February 2025 Recap
Economy In February 2025, the U.S. economy exhibited steady non-inflationary growth despite rising political uncertainty and back-to-back weak consumer sentiment readings that pointed to much higher inflation expectations. Furthermore, the labor market showed signs of cooling, as job growth slowed to 143,000 in January, down from 307,000 in December and 261,000 in November. Despite the […]
Monthly Digest – August 2023 Edition
In this month’s newsletter, Chief Investment Officer, Stuart Katz, discusses the fallout of the Fitch Rating Agency downgrade of the US. We also are including our 2023 Mid Year Outlook in case you missed it. Chief Economist, Jeanette Garretty, hosted CIO, Stuart Katz, and Head of Wealth Planning, Mallon FitzPatrick, to discuss the first half […]
Marching Towards a New World Order
By Avi Deutsch November 11, 2023 – I recently returned from spending several weeks with my family in Israel. The mood there, which after the murderous Oct 7th attacks could only be described as existential despair, has morphed into one of righteous anger. Israelis know how to come together in difficult times, and civil organizations […]
Robertson Stephens Launches Family Office for Select Clients
Experienced investment professional Bruce Stewart will build out offering as Head of Family Office SAN FRANCISCO, Feb. 24, 2025—Robertson Stephens today announced that it has hired Bruce Stewart to launch a family office that will serve select ultra-high-net-worth clients who have outgrown a multi-family office platform but are not ready to transition to a pure […]
Robertson Stephens Appoints Esta Stecher as Board Advisor
Financial Advisory Firm Leverages Stecher’s Banking, Legal, and Investment Knowledge to Strengthen Board and Drive Growth as an Advisor SAN FRANCISCO, Feb. 12, 2025 – Robertson Stephens Wealth Management, LLC (“Robertson Stephens”), today announced the appointment of Esta Stecher as Board Advisor on its Board of Directors. With more than 30 years of experience in […]
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 […]