Last week, the 10-year Treasury yield fell below the 3-month yield for the first time since 2007.
Month: March 2019
Following the stock market’s recent move higher, coupled with a slightly weaker economic and corporate profit outlook, the risk-reward trade-off in stocks has become less attractive.
WEC Description: February’s job growth was disappointing, but it followed the biggest two-month gain since 2016.
Large caps may be better positioned than small caps, given where we are in the business cycle.
U.S. economic data were sound in February, even as confidence fell amid uncertainty from global trade and political headwinds.
Following such a strong rally since the December 24 lows, a pullback is reasonable to expect.
Our Beige Book Barometer has dropped to its lowest level since the 2011 European debt crisis.
Let your clients know about the 10-year bull market and its potential for lasting even longer with this client letter.
Slow (but steady) growth and accommodative policy have made this expansion especially durable.