Home Is Where the Heart Is
By Jeanette Garretty, Chief Economist January 14, 2025 – Economists, lenders and policy analysts are given to talking about the US housing market in notably clinical terms. A blizzard of monthly data on, for example, “housing starts,” “building permits,” and “new home sales” (from the US Census Bureau), “existing home sales” (from the National […]
Economic Commentary – January 13, 2025
It should be a doozy of a week. Financial markets are continuing to digest the extremely strong US nonfarm employment numbers from Friday while contemplating the release of a full load of inflation data. Strong economic growth going into the first quarter seems well established, although, in truth, the announcement of 256,000 jobs created in […]
Investment Commentary – January 13, 2025
Executive Summary Last week, US stocks and bonds were down. The MSCI EAFE (non US developed) and MSCI emerging markets indices outperformed the S&P 500. The best performing sectors in the S&P 500 were energy, health care, and materials. Across U.S. style & market cap indices, large-cap value did the best, and the value factor […]
Wealth Planning Commentary – January 13, 2025
Navigating P&C Insurance Challenges After the LA Wildfires Our thoughts are with everyone affected by the devastating wildfires in Los Angeles. This catastrophic event has caused immense destruction, and it is important to address both immediate recovery steps and the broader implications for insurance and financial planning. The wildfires have destroyed over 25,000 structures, with […]
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Quarterly Letter: A Strong Year Gives Way to an Uncertain Future
By Avi Deutsch January 10, 2025 – Few began 2024 feeling optimistic about the US economy. The year that began shortly after fighting in the Middle East erupted, joining the Ukraine War as a source of geopolitical uncertainty; the year after the Fed rate hit its highest level since 2000; the year that promised a […]
Economic Commentary – January 6, 2025
Happy New Year. More so than most times, this “New” seems very new. Over the last 25 years, there have been only five two-year periods in which the US Congress and the White House have been controlled by the same political party; the current two-year period (2025-2027) is the first since 2017-2019. Of course, “controlled” […]
Investment Commentary – January 6, 2025
Executive Summary Following a five-day selloff, Wall Street ended its longest equities losing streak since April. The Nasdaq 100 rebounded sharply on Friday, gaining 1.7%, while the S&P 500 rose 1.3%. These gains partially offset the week’s selloff, which had been fueled by a December downturn extending into the first trading day of the new […]
Wealth Planning Commentary – January 6, 2025
Corporate Transparency Act Update On December 26, a federal appellate court ruled to halt the beneficial ownership reporting requirements until the court hears and rules on the case challenging the Corporate Transparency Act (CTA). Currently, most business owners are not required to report their beneficial owners to the FinCEN database. Stay tuned for further updates. […]
Solid Economic Growth and Rate Cuts Power Stocks in 2024
By John Lau January 2, 2025 – The S&P 500 extended 2024 gains as the election results raised expectations for tax cuts and other pro-growth policies in 2025, while the economy remained on solid footing and the Fed continued to cut interest rates. The S&P 500 logged a modestly positive return for the fourth quarter […]
December 2024 Recap
Economy December 2024 saw the U.S. economy wrap up a solid year that defied the skeptics who had been calling for a recession since 2023. Key economic indicators reflected a steadily expanding, disinflationary economy with some pockets of weakness. The Bureau of Economic Analysis reported a real GDP growth rate of 2.8% for Q3 2024, […]
Market Note: Grateful, But Not Complacent
December 20, 2024 – The term American Exceptionalism should not be used lightly. Like every country, the US is complex, and there are good things and less good things about it. Still, it’s hard to view the US economy in 2024 as anything short of outstanding, especially compared to almost everyone else. Whatever challenges lay ahead, and […]