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  • Tighter Bank Lending Standards Could Mean Higher Risks for High Yield Companies February 8, 2023
    Wednesday, February 8, 2023 The Federal Reserve (Fed) released its quarterly “Senior Loan Officer Opinion Survey on Bank Lending Practices” report this week and it continues to show banks are tightening lending standards on commercial and industrial (C&I) loans. C&I … Continue reading →
    Lawrence Gillum, CFA, Fixed Income Strategist
  • A Short and Shallow Recession: How It Could Play Out February 7, 2023
    Tuesday, February 7, 2023 Recession Lengths Vary Widely Recessions occur when the economy has reached a peak in economic activity and it is heading toward the subsequent trough. The economy is back in expansion mode after the trough. Although it … Continue reading →
    Jeffrey J. Roach, PhD, Chief Economist
  • Weekly Market Performance – Markets Finish Mostly Higher Amid FOMC Meeting and Big Tech Disappointments February 3, 2023
    Friday, February 3, 2023 Index Performance View enlarged chart U.S. and International Equities                                                        … Continue reading →
    David Matzko
  • Golden Cross—Not Just Another Flash in the Pan February 3, 2023
    Friday, February 3, 2023 The sharp rally in U.S. equity markets has created many skeptics, given the size and scope of the advance. As of February 2, the S&P 500 is up 8.9% year to date, marking its best start … Continue reading →
    Adam Turnquist, CMT, VP Chief Technical Strategist
  • What You Should Know About the Latest Fed Action February 2, 2023
    Thursday, February 2, 2023 What a Difference a Year Makes A year ago today, the federal funds rate was close to zero, consumer price inflation reached 7.9%, and yet the 10-year Treasury yield was 1.79%. What a difference a year … Continue reading →
    Jeffrey J. Roach, PhD, Chief Economist
  • Markets Off to a Strong Start in 2023, but Can It Continue? February 2, 2023
    Thursday, February 2, 2023 The first month of 2023 is now behind us and it felt very different than 2022. In 2022, the S&P 500 and the Bloomberg U.S. Aggregate Bond Index (“Agg”) both fell and there was much talk … Continue reading →
    Barry Gilbert, PhD, CFA, Asset Allocation Strategist
  • Weekly Market Performance – Markets Finish Higher Despite Lighter-than-Expected Earnings January 27, 2023
    Friday, January 27, 2023 View enlarged chart U.S. and International Equities Markets Mostly Higher The major market averages finished higher, reversing last week’s losses.  Equities have done well despite fourth quarter earnings coming in lighter-than-expected.  In addition, stocks have shrugged … Continue reading →
    David Matzko
  • Are Yields Pointing to a Change in Monetary Policy? January 27, 2023
    Friday, January 27, 2023 The spotlight will shift from earnings to the Federal Reserve (Fed) next week as they wrap up their 2-day monetary policy meeting on Wednesday, February 1. Market expectations are set for an increase of 25 basis … Continue reading →
    Adam Turnquist, CMT, VP Chief Technical Strategist
  • Solid End to 2022, but Risks to U.S. Economy Rising January 26, 2023
    Thursday, January 26, 2023 Solid Quarter to End 2022 but Tougher Sledding in Q1 The U.S. economy grew at a 2.9% annualized rate in the fourth quarter, slightly better than economists’ forecasts and driven by inventories, trade, and government spending. … Continue reading →
    Jeffrey Buchbinder, CFA, Chief Equity Strategist
  • Can a Technical Headwind Turn Into a Tailwind? We Think So. January 25, 2023
    Wednesday, January 25, 2023 To say that last year was a bad year for fixed income investors would be a huge understatement. With the Federal Reserve (Fed) embarking on the most aggressive rate hiking campaign since the 1980s, most fixed-rate … Continue reading →
    Lawrence Gillum, CFA, Fixed Income Strategist
  • Can Gold Continue to Shine? January 24, 2023
    Tuesday, January 24, 2023 Gold has climbed to a nine-month high after breaking out from a bottom formation last fall. The yellow metal is now up nearly 20% off the September lows, including over a 5% year-to-date gain as of … Continue reading →
    Adam Turnquist, CMT, VP Chief Technical Strategist
  • Weekly Market Performance – Markets Decline Amid Light Earnings and Economic Landscape January 20, 2023
    Friday, January 20, 2023 Index Performance View enlarged chart U.S. and International Equities                                                        … Continue reading →
    David Matzko
  • S&P 500—Going for it on Fourth Down Again? January 20, 2023
    Friday, January 20, 2023 The S&P 500 kicked off 2023 with a solid start, moving the year-to-date return chains to over 4% last week before giving up some yardage over the previous few sessions (the index is still up 1.6% … Continue reading →
    Adam Turnquist, CMT, VP Chief Technical Strategist
  • Earning Down, Stocks Up? Not as Uncommon as You Think January 19, 2023
    Thursday, January 19, 2023 Investors often talk about how earnings drive stock prices. But that begs the question how so many strategists and pundits expect earnings to fall in 2023 and stocks to rise? That’s our view in LPL Research. … Continue reading →
    Jeffrey Buchbinder, CFA, Chief Equity Strategist
  • Retail Sales Downshift in December January 18, 2023
    Wednesday, January 18, 2023 Trajectory Is Weakening  The U.S. economy weakened in December. Overall spending in December fell over 1% month over month after a downwardly revised 1% decline in November. Lower sales on autos and at gas stations contributed … Continue reading →
    Jeffrey J. Roach, PhD, Chief Economist