The Federal Reserve’s focus is shifting from inflation to the labor market as continued economic strength comes into question. Recent revisions have shown that job growth over the past year was not as…
Volmageddon isn’t what it used to be. Perhaps increased interest in the index has made the VIX an example of Goodhart’s Law—when a measure becomes a target, it ceases to be a good measure. Equities…
On Sunday night the Bank of Japan (BOJ) unexpectedly raised interest rates, adding fuel to the fire in already skittish equity markets. Investors were on edge after the prior week’s payroll report…
After a decade of tech dominance, we’re seeing a major rotation in the market. Large-cap growth stocks, led by giants like Microsoft, have recently been overshadowed as money flows into small-cap value stocks. Over just two weeks following the…
After a remarkable stretch of outperformance, the magnificent seven are finally taking a break. Recent selling pressure has been concentrated in the largest stocks, dragging the broad indices lower…
July 30, 2024 |
As the public becomes more informed about artificial intelligence and machine learning, here are our five core principles of responsible use of Artificial Intelligence as it specifically relates to making investment decisions.
Over the last decade, the largest tech companies have consistently and significantly outperformed the rest of the market. Last week, seemingly catalyzed by the July 8th CPI report, we saw a complete unwind of the trade…
By many measures market indices sit at extremes. Concentration and the outperformance of growth stocks are both at historic highs—reminiscent of the tech bubble. While the valuations of the largest companies have expand…
A surprise decline in the Consumer Price Index (CPI) set off a massive rotation in the equity markets. Only time will tell whether this is a change in trend or a repositioning. The economy clearly isn’t…
Performance of the technology sector vs the broad market is reaching extremes, as investors continue to pile into the momentum trade. Recent price action has been bizarre, with the S&P 500 price…
The Federal Open Markets Committee (FOMC) left the Federal Funds Rate unchanged in June. The committee also updated their economic projections, which appear stale after a spate of weaker than expected…
U.S. Nonfarm Payrolls smashed expectations again but there are signs below the surface that the labor market is coming back into balance. A balanced labor market with less employee turnover may allow…
Have Inflation concerns returned? We’ve long been prepared to move on from the over analysis of monthly inflation data, confident the majority of inflation would prove transitory, leaving investors to focus on economic growth…
Recent economic data has surprised to the downside, strengthening the case for rate cuts from the Federal Reserve. So far, markets are looking through the near-term weakness as companies’ profit…
Earnings season is well underway, and thus far, the data has exceeded expectations. This may be partially explained by an unexpected surge in consumer spending in March, following a weak start to the…
Slowing wage growth and sticky inflation could become a problem for U.S. consumers. Those at the lower end of the income spectrum are already struggling. As interest rates creep back towards the highs…
Interest rates are moving higher as continued economic strength has tempered the market’s expectations for rate cuts from the Federal Reserve. With less than a week to go until the first advance release…
The Decathlon strategies had an excellent quarter with all asset allocation models beating their asset mixture benchmarks (on a net and gross basis). This was achieved despite below neutral equity exposure for most of the quarter. Once again…
The U.S. economy continues to stand out relative to its developed world peers, despite sending many mixed messages. Consumers are still spending but, in addition to higher credit card debt, they are…
The Consumer Price Index (CPI) for February rose in-line with expectations, but the headline number remains higher than the Federal Reserve’s target and there remain some concerning readings under the…
It may be too early to claim victory on inflation. Higher than anticipated inflation in shelter pushed up core inflation more than expected, but that wasn’t the only concerning category in the report…
It may be too early to claim victory on inflation. Higher than anticipated inflation in shelter pushed up core inflation more than expected, but that wasn’t the only concerning category in the report…
The U.S. economy continues to defy expectations. January’s non-farm payrolls report smashed expectations and December’s report was revised higher. Productivity growth in the fourth quarter was higher…
For much of 2023, investors were leery of holding traditional risk assets given the attractive prospects of riskless cash yielding over 5%, and the poor trailing performance of nearly all cash-flowing assets. While the recent decline in rates…
Consumers are perking up as we begin the new year. Sentiment is beginning to turn on the future economic outlook, and consumers are feeling positive about their financial health. Economic momentum…
We expect the best opportunities of 2024 to be outside of the largest U.S. companies. This could bode well for active management as it would mean more securities that outperform passive indices rather than less. We are well positioned…
As we usher in the New Year, it’s an opportune time to reflect on the dynamics of the global economy and the financial markets. In this post, we’ll take a step back to explore seven charts that we’re…
December 18, 2023 |
As you continue to have more and more conversations in your daily life (work and otherwise) about Artificial Intelligence, you may need help leveling up your basic understanding of foundational AI concepts. Check out these infographics…
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December 12, 2023 |
You’ll walk away with a deeper understanding of how AI is being applied to asset management, applying it to investing is more complicated than other applications, what to look for in an AI Asset Manager, and how we apply AI to the investment process.
