Compound的动态

Steve Dean, CFA? is back with his monthly State of the Market commentary, covering market events from April 2024 and why they matter. https://lnkd.in/enZAZAcd After a strong start to the year, stubbornly high inflation and weaker than expected GDP growth reports sent stock and bond returns tumbling in April. Investors appear to have adjusted expectations for the Fed’s first rate cut to later in the year, perhaps even beyond the June meeting, with growing concern that the economy will start to show weakness before rate cuts arrive. Fed Chair Powell continues to point to relatively strong current economic activity and tight labor markets to justify the holding pattern on short-term interest rates. Still, with the equity market gains of the last year pushing stock valuations to relative highs, the fear is that economic and corporate earnings growth will not come in strong enough to justify the lofty stock prices. The month at a glance: → US equity indices fell for the first month since last fall. → Fixed income returns were weak as longer term interest rates rose. → Estimated GDP growth for Q1 rose just 1.6%, weaker than expected, but primarily due to inventory shrinkage rather than any slowing in consumer spending. → Wage growth remains relatively high, boosting consumption, but challenging the moderation in inflation. You can read Steve's entire State of the Market update here: https://lnkd.in/enZAZAcd

?? April Market Update Insights ?? After a strong start to the year, stubbornly high inflation and weaker-than-expected GDP growth reports sent stock and bond returns tumbling in April. Investors are adjusting their expectations for the Federal Reserve’s first rate cut, with concerns that the economy may weaken before rate cuts arrive. Here is Stephen Dean, CFA at Compound latest thoughts on the State of the Markets.

Are you worried about the elections' impact on the markets? From a historical perspective, investors shouldn't be. To borrow from Benjamin Graham, “In the short run, markets are a voting machine, in the long term a weighing machine.” Check out Stephen Dean, CFA's latest State of the Market commentary. #cognitivebiases #vote #fundamentals #benjamingraham #exceptionaladvisor

Stephen Dean, CFA is back with his monthly State of the Market commentary, covering recent market events and why they matter. Solid economic reports throughout the month with little change in inflation caused investors to recalibrate expectations of the speed and magnitude of the Fed's rate cutting path. Futures markets are now pricing in both fewer rate cuts and a higher ending rate for this cycle than in September. [1]?This shift dragged down both stock and bond returns and added volatility during the month. While equity markets have historically paid little attention to which party occupies the White House, additional market volatility came from investors positioning themselves for the outcome of what is projected to be an extremely close presidential election. October at a glance: → US real GDP rose 2.8% in Q3, down slightly from 3% in Q2. [2] → The Core PCE price index was up 2.7% in September from a year ago. [3] → The unemployment rate remained at 4.1% despite weak job gains on strike and hurricane impacts. [4] → Stocks ended the month on a weak note as Q3 earnings were mixed for some bellwether tech companies. → Equity market volatility increased on heightened focus on earnings and the election. → Interest rates have moved up since the Fed rate cut in September. You can read Steve's full commentary about October 2024 here: https://lnkd.in/eWMbGnsz

Stephen Dean, CFA is back with another market update. Here's what you should know: After a start to the new year that looked like a continuation of 2023, markets delivered mixed results by month-end. Fed Chairman Powell disappointed investors by suggesting that interest rate cuts would not likely occur at the March meeting as markets had increasingly expected. Underlying the Fed’s January posture was continued economic strength and slowing in the pace of declines in inflation. ?? Equity markets posted gains in all but the small cap segment. International stocks led the way in January after lagging during most of last year. ?? The major US large cap indices eked out small gains after a sharp drop on the last day of the month on “higher for longer” interest rate fears. ?? The Fed left policy rates unchanged at their January meeting, but longer term rates generally rose during the month. ?? The “soft landing” (or “no landing”) scenario for the economy continued to play out with strong GDP growth (+3.3% in Q4), tight labor markets (216K jobs added in December) and consumer spending (up 0.6% in December and 5.6% for the year). ?? Inflation ticked up a bit in December from November (Personal Consumption Expenditures index +0.2% after averaging no change in the prior two months), increasing concern that gains on inflation may have moderated. The path of markets in the near-term will depend on the balance of economic growth and inflation and the resulting changes in interest rate policy. Investors are expecting continued moderation in inflation that would allow the Fed to ease off on the tight monetary policy but without any substantial slowing in the economy. It’s a delicate balance, but not out of the question. Read the rest of Steve's commentary here: https://lnkd.in/gP82jUV3

As U.S. rate cuts near, history shows stocks and bonds often perform well after the Fed starts easing cycles, with equities showing greater variability. Given mixed economic signals, the focus should be on quality in portfolio positioning. The post Fed rate cuts on the horizon appeared first on RBC Wealth Management.

As U.S. rate cuts near, history shows stocks and bonds often perform well after the Fed starts easing cycles, with equities showing greater variability. Given mixed economic signals, the focus should be on quality in portfolio positioning. The post Fed rate cuts on the horizon appeared first on RBC Wealth Management.

As U.S. rate cuts near, history shows stocks and bonds often perform well after the Fed starts easing cycles, with equities showing greater variability. Given mixed economic signals, the focus should be on quality in portfolio positioning. The post Fed rate cuts on the horizon appeared first on RBC Wealth Management.

As U.S. rate cuts near, history shows stocks and bonds often perform well after the Fed starts easing cycles, with equities showing greater variability. Given mixed economic signals, the focus should be on quality in portfolio positioning. The post Fed rate cuts on the horizon appeared first on RBC Wealth Management.

As U.S. rate cuts near, history shows stocks and bonds often perform well after the Fed starts easing cycles, with equities showing greater variability. Given mixed economic signals, the focus should be on quality in portfolio positioning. The post Fed rate cuts on the horizon appeared first on RBC Wealth Management.