Market Comment Q1 2015

MarketComment. The year 2014 turned out surprisingly well for most investors. In the US, major stock market indices rose 8% to 12% in the year. Because the dollar appreciated nearly 15% on a trade-weighted basis, European and Japanese investors in the US made out even better, with returns of 25% or higher in their local...

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Market Comment Q3 2014

MarketComment. After a slight pause in April, the U.S. stock market resumed its upward march in the second quarter. Indeed, major stock markets throughout the world, with the exception of Japan, have posted solid advances so far this year. In general, the gains can be attributed to continued economic recovery, higher corporate earnings and accommodative...

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Market Comment Q2 2014

MarketComment. Following last year’s stellar gains, stock markets so far this year are subdued. In the U.S., the S&P 500 stock market average is up 1%, having overcome a 5% correction in January. Economic activity is widely expected to strengthen this year, and corporate earnings are expected to advance by 8-10%. Business and consumer confidence,...

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Market Comment Q1 2014

MarketComment. In 2013, U.S. stocks surprised to the upside, posting the best one-year gain since 1997. Given the multiple headwinds of a sluggish economic recovery, fiscal consolidation, budget theatrics, high under-employment and rising interest rates, it seems fortuitous that the year could turn out so well for equities. Though earnings of companies in the S&P...

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