January Recap: Stocks Rally as Market Leadership Shifts in Early 2025
Monthly Market Summary Stocks Trade Higher as Market Leadership Rotates After 2024’s Gains Stocks traded higher to start 2025, but there was a change in market leadership as the rally broadened. Large Cap Value, which underperformed over the past 12 months, outperformed Large Cap Growth by over +2.5% in January. Likewise, the Dow Jones Index […]
January 2025 Recap
Economy In January, the U.S. economy continued its impressive run of solid growth and declining inflation. Fourth quarter 2024 GDP growth came in at 2.3% despite a significant drag of 0.9% from liquidating business inventories. The U.S. consumer was particularly strong, with consumption rising at a 4.2% pace. As for the potential for government spending […]
Market Note: A Continuation of Policy by Other Means
February 7, 2025 – In the complex power dynamics between nation-states, governments employ a spectrum of foreign policy tools to influence the behavior of other nations. These range from soft power instruments like international aid, cultural exchange programs, and economic collaborations, to more muscular measures such as diplomatic treaties and conditional financial assistance. At the […]
Powell’s ‘Biggest Tell’ on Where Rates are Going
January 31, 2025 – Jeanette Garretty says the Fed was “very confident” after their decision to pause rate cuts this week. She says Powell’s “biggest tell” is his repeated mention that Fed policy is still restrictive and thinks they will cut again when they can. She discusses the potential economic impacts of the proposed tariffs. […]
FOMC Commentary – January 29, 2025
By Jeanette Garretty, Chief Economist The Federal Open Market Committee (FOMC) announced today it would leave the target Feds Funds interest rate unchanged at 4.25%-4.5%. Although financial markets expressed some mild disappointment that rates were being held steady, the announcement was widely anticipated. Much has been written about today’s FOMC Interest Rate Decision, marking the […]
Five Near Term Market Themes to Watch
By Stuart Katz, Chief Investment Officer January 27, 2025 – Last week’s inauguration activities in Washington mark Donald Trump’s return to the White House. As the second Trump administration starts, the market is looking ahead to what changes may take place in the coming years. Today, we briefly examine five key themes investors are monitoring […]
FOMC Commentary – July 31, 2024
By Chief Economist, Jeanette Garretty The statement released at the end of the FOMC meeting today was predictable and, quite frankly, a bit boring. The Fed Funds target rate (aka, “the policy target”) was left unchanged at 5.25-5.5%, and the usual “data-driven” waiting-and-seeing language was included. The one notable aspect of the statement was the clear […]
Robertson Stephens Opens 3rd Office in Colorado
Ratio Wealth Group joins Robertson Stephens, opens new office in Denver. SAN FRANCISCO, July 30, 2024—Robertson Stephens Wealth Management, LLC (“Robertson Stephens”) announced its fourth acquisition of 2024 and strategically expanded its presence in Colorado with the addition of Ratio Wealth Group, an SEC-registered investment advisor managing over $530 million in advisory assets. Derek Scarth and […]
Market Note: Not Your Average July
July 26, 2024 – Summer is normally a quiet time of year as families head for vacation and headlines and markets take a back seat. But not this year. As we bake under the suddenly ubiquitous heat domes and global temperatures set records only to immediately break them, the news cycle has been moving so […]
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Quarterly Letter: The Value Meal Wars
July 10, 2024 – A truism of US economics is that one should never underestimate the US consumer and their ability to propel the economy forward through spending. But what happens when consumers start running out of money? Fast-food chains are finding out. After years of raising prices and increasing profits, consumers appear to have […]
Robertson Stephens Opens 1st Office in Oregon, Hits $6 Billion in Client Assets
Rain Capital joins Robertson Stephens, opens new office in Portland, OR SAN FRANCISCO, July 9, 2024—Robertson Stephens Wealth Management, LLC (“Robertson Stephens”) has strategically expanded its presence in the Pacific Northwest by partnering with Rain Capital, an SEC-registered investment advisor managing over $360 million in advisory assets. David Reichle and Ellen Kim, co-founders of Rain Capital, […]