US equity markets rallied just enough to round out 2024 with all four quarters posting positive returns. The S&P 500® Index finished the fourth quarter up 2.41%, bringing the year’s total return to 25.02%.
Senior Investment Strategist Tracey Manzi notes that the Federal Reserve's ongoing easing cycle should benefit short to intermediate maturities.
Earnings season is in full swing. The bulk of the bottom-line boost is slated to come from financials, communication services, and tech.
Investors, many of whom were worried about stock valuations before the election, have much to consider heading into 2025. There seems reason for some exuberance—but a rational exuberance, based upon a plausible foundation of corporate and economic health.
As we welcome a new year and its many possibilities, it’s important to reflect on where the markets and investor psychology sit on the pendulum of greed and despair.
From the start of December to their recent peaks, 10-year yields have gained 68 basis points in the U.K., 60 basis points in the U.S., 55 basis points in Germany and 48 basis points in Canada.
European equity markets may look vulnerable to fallout from new US policies. But some companies offer investors reasons to cheer.
State and federal agencies are providing immediate assistance and financial aid for essentials for wildfire victims in California. Our Bill Cass shares some financial strategies to secure emergency funds and plan finances.
Some soft data metrics have started to rebound sharply and catch back up to relatively resilient hard data, but it's too soon to say whether the gap is definitively closing.
All of the attention when it comes to future Fed monetary policy decisions has been laser-focused on rate cuts. We would have to concur, and rightfully so. However, that doesn’t mean investors should take their eyes off the ball and not consider the Fed’s balance sheet.
Today’s video on the Utility Sector is another in the continuing series of videos where we are looking for value in each of the 11 major sectors as reported by Standard & Poor’s. This particular video is going to be on Utility Stocks.
VettaFi examines midstream EBITDA growth guidance for 2025 and future years.
Big US banks marked the beginning of the Q4 earnings season when they released results last week, and overall they were positive. Because of their position opening up the earnings season they tend to set the tone for things to come.
Markets vigorously adjusted expectations for a new regulatory, economic, and geopolitical landscape driven by U.S. politics.
As economists and financial market forecasters, we are constantly amazed at how so many people analyze, forecast, research, and discuss important topics without ever addressing the elephant(s) in the room.
In last week’s discussion with Thoughtful Money, I noted that we are becoming more “tactically bearish” as we progress into 2025. While we have remained primarily bullish in equity positioning over the last two years, several risks are now worth considering.
It is sometimes perceived that the Fed’s action changes all interest rates across the yield curve, but that needs to be put in perspective.
Value stocks hit some investors’ radar screens with a performance uptick in the second half of 2024. Yet many portfolios may be unwittingly underweighted in this popular equity style.
Rebuilding is the first of many challenges from natural disasters.
This past week brought promising news for the markets and the broader economy. Inflation data came in at or below expectations, while economic indicators, including housing starts and retail sales, demonstrated surprising resilience.
The pairing of active management and fixed income could be as important as any time in recent memory.
At the start of every year, we publish our popular Periodic Table of Commodity Returns, an interactive infographic of the gains and losses across the commodities market.
Outlooks for higher education and healthcare are the weakest while transportation and essential utilities are the strongest. Resiliency to withstand an economic downturn is strong for all sectors.
GMO has posted a new 7-Year Asset Class Forecast.
Last week in my 2025 forecast letter, I predicted A Partly Cloudy Year, generally mild but with occasional storms. Today we’ll talk about the second half of that sentence. What could go wrong and lead to a worse-than-expected year? In short, what are the main risks to my forecast?
Everybody has an opinion about quantum computing lately. Last week Nvidia CEO Jensen Huang suggested we were 15–30 years away from “useful” quantum computing
Today’s video on the Real Estate Sector (REITs) is another in the continuing series of videos where we are looking for value in each of the 11 major sectors as reported by Standard & Poor’s.
We understand that the monetary policy playbook since the Bernanke Fed and the Great Financial Crisis has changed considerably.
The wildfires may affect some municipal bond issuers in the devastated areas, but the impact to other California bonds or to the broader muni market is likely limited.
In 2025, two titans of technology stand at the forefront of innovation: quantum computing and robotics. Each offers a vision of a future transformed, where the impossible becomes achievable and industries are redefined.
A look at how the renewable energy opportunity may and may not change.
There are a few things it makes sense to get a start on when a new year begins. One is tax-loss harvesting.
As we close the chapter on Biden’s presidency, we take a moment to reflect on his legacy.
Strong U.S. economic data has spurred a strong rise in Treasury yields but a tepid response in the stock market. Uncertainty likely will continue in coming months.
At CES 2025, Jensen Huang, CEO of NVIDIA, offered a compelling vision of AI’s future—one that combines bold technological advances with practical applications.
New policies could disrupt markets, but high starting yields and strong demand for income should provide ballast.
With all eyes focused on the White House, investors must decide what the incoming President’s policies will mean for markets and how to position accordingly. Ahead of the inauguration, we asked our portfolio managers what they think should be front of mind.
U.S. Treasury yields have increased notably since September, particularly at the long end of the curve, with the 10-year yield up over 100 basis points from its recent lows. We unpack the drivers behind this big move in rates and our outlook for bonds going forward.
Something unusual came down the chimney late last year. During the holidays and the preceding weeks, there were a slew of splits among US ETFs – the most in the past four years, according to Wall Street Horizon’s data.
As we step into 2025, it’s time to revisit our expectations for the markets and provide an updated perspective for investors.
The Social Security Fairness Act is expected to enhance benefits for many starting in 2024. Our Bill Cass explains the significance of the new law.
Reflecting ongoing uncertainty around inflation and the trajectory of monetary policy, yield volatility posed challenges in 2024. Yet it also highlighted the importance of tax-efficient strategies like loss harvesting in fixed income portfolios.
The Northern Trust Economics team shares an outlook for U.S. growth, inflation, employment and interest rates.
While stocks can move higher, the bond market will continue to matter. Higher rates suggest that equity leadership may continue to reside in companies that are relatively rate insensitive.
Natural disasters test—but don’t break—municipalities’ resilience.
Despite challenges, the U.S. market saw strong returns in 2024 with a "soft landing" for the economy, leading to key questions and emerging themes for investors in 2025.
For this edition of Bull vs. Bear, the VettaFi writers debate the case for using sector ETFs to make bets on the new market regime.
Friday’s rip-roaring jobs report has pushed the betting markets to price in a single rate cut for the entire year of 2025.
Amid an unsettled global economic outlook and elevated equity valuations, bond markets present attractive yields and important diversification benefits.
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
