Weekly Cash Commentary
Weekly Bond Commentary
The juggernaut U.S. economy is pointed in the right direction with engines pumping.
It continues to be the issue consensus is worried about.
Because conditions and history suggest it has further to run.
What if Biden gets most all of what he wants? Is the market ready?
Will production boosts by OPEC and company pay off?
As 2022 comes into focus, room for upside remains but stock picking will be key.
Rate strategies lead the way for bonds in challenging first quarter.
There's only so much innovation can do as accelerating growth drives up demand.
March blowout a sign of better things to come.
Taxes are one of them. Increases to fund infrastructure could prove disruptive.
Liquidity investors have lots to consider, but nothing as pressing as it might seem.
A highly successful NFL coach sets an investing example, too.
Weekly Cash Commentary.
Unchecked inflation could put the squeeze on the economy.
A rather boring few weeks in the market might be leading to a boom.
A strengthening economy should smooth rising-rate headwinds.
Rising yields mean different things for different sectors of the market.
The $1.9 trillion stimulus bill is too large and not targeted well.
2022 outlook extremely positive despite temporary indigestion from rising yields.
It sure seems as if our world is moving toward MMT.
And broader markets are not sounding alarms.
The FOMC observed the economy is improving, but left it at that.
The strong rebound in GDP could power the S&P to 4,500 by year-end.
Yields are rising for the right reasons.
A recovering U.S. and ‘modestly’ growing China are good for the EM and everyone.
A steady Fed leaves worries about inflation and yields to the market.
Leisure & hospitality led the comeback.
Minimum wage is too low, but strategy to raise it should be bipartisan.
Short on days, February was long on anxiety for some.
Now it's the Senate's turn to shape the Covid relief bill.
There may be tiny bubbles but this is not the year 2000.
Powell reaffirms commitment to easy money policies to support still-young recovery.
They don't see inflation tripping up the economy anytime soon.
They played an outsized role in 2020 holiday retail spending.
And that's just another reason the setup for stocks remains strong.
SEC focuses on how companies deal with arguably their greatest assets—their people.
There’s a healthy spread of deals across the globe.
And because it's consensus, it may not be that big a worry.
History suggests a rotation from ‘growth’ may be at hand.
The Reddit rebellion forces an adjustment to the January Barometer.
The weakness gives President Biden more clout for new stimulus.
As perception catches up with reality, add another catalyst to the fire.
Federated Hermes adds to stock-bond model equity overweight.
Accelerated digitization was just the beginning.
The transition to SOFR is picking up steam.
Housing, corporate spending and inventory restocking led the way.
Frothy pockets popping up but it's too early to cut back equity overweight.
Excess euphoria? Politics? Inflation? Always good to ponder.
German elections, recovery and, finally, an end to Brexit saga.
How Covid is spawning changes and accelerating trends in the sector.
Is it too early to talk about midterm elections?
Headwinds persist, but we forecast healthy 5.3% GDP growth in 2021.
Will rising inflation and bond yields spoil the party?
A year of “unprecedenteds” sets stage for an unexpectedly strong move higher in stocks.
Three things to watch in 2021.
We’re positioned for “risk on” but worry most everyone else is too.
Yet the 'January Barometer' suggests 2021 could be positive for equities.
Covid-19 surge and delay in stimulus led to first decline in jobs in eight months.
Market melt-ups can last a long time.
With the slimmest of margins, Democrats will have to compromise.
The new year revives old optimism.
Congress' delay in reaching a new fiscal stimulus deal has hurt consumer spending.
It's not just Santa that has the market in a holiday mood.
Federated Hermes adds equity exposure, sets 4,500 and 5,000 targets for S&P 500 in 2021 and 2022.
Perhaps due to fiscal stimulus talks, the FOMC meeting was quiet.
It's a 'heads I win, tails I win' setup for 2021.
What might the markets do as we all hunker down?
We continue to think the S&P will reach 3,800 this year and 4,200 in 2021.
2021 risks are far more to the upside than downside.
As Wall Street searches for worries, stocks keep climbing.
Lawmakers deserve coal in their stockings for not passing a new stimulus bill.
The Federal Reserve’s tussle with the White House was something to behold.
Manufacturing, consumers help drive Dow, other indexes to new highs.
The market is offering a lot of options.
3 varieties of value stocks offer opportunities.
Plenty of reasons to be optimistic.
With more fiscal stimulus, the market can too.
2020's sure been volatile. 2021 could be better.
We're going to be hearing about Georgia ad nauseam in coming weeks.
Market’s attention shifts to the Senate.
Vaccination hopes add to factors favoring stocks.
The promise of more normalized relations. Combined with Covid optimism, it’s positive.
Election outcome 1 of 5 reasons risk assets are on a tear.
Key Federated Hermes investment professionals weigh in on election's implications.
The labor market continues its positive momentum.
There's a non-zero risk we're celebrating the crash of the Blue Wave prematurely.
A razor-thin margin outcome is enough to make the market dance.
More favorable risk environment prompts an increase in our equity overweight.
Presidential result could take days but Senate holds Red and divided government assured.
Lack of presidential outcome leads to market uncertainty.
Try to stay focused on long view, which is good in almost any outcome.
After the election, cash managers have much to consider.
Might a silent majority favoring Trump pull another election surprise?
Despite Q3's blowout GDP figure, the U.S. likely will need a few more quarters to break even.
Spiking Covid cases, no extra stimulus and a possible contested election.
A fiscal policy win regardless of outcome has markets looking past Nov. 3.
2021 is setting up nicely for stocks regardless of who wins.
The race could tighten but whatever happens, the market should be fine.
We expect third-quarter GDP growth to be the strongest in U.S. history.
A strong end to Back-to-School sales bodes well for the holiday shopping season.
Dollar weakness could make for opportunities overseas.
Pullback could be in offing against promising long-term outlook.
The accelerating and global use of new technologies are keeping prices in check.
A contested election is consensus, with little worry about who ultimately wins.
Why are stocks rising in the face of a potential Blue Wave?
A disputed election headlines potential risks heading into year-end.
Many developing economies are home to global technology leaders.
It may not matter all that much to the market.
Jobs report better than headline number, and Trump's illness might prompt fiscal aid.
A simple guide to a very complicated set of possibilities.
The money market industry is too focused on the trees.
Why these vehicles are rivaling IPOs as an option to go public.
Virus and election risks weigh on investors.
A presidential debate primer.
Investing with portfolio management teams that include women can be good for your portfolio.
2020 elections have significant ESG implications.
Quirky back-to-school shopping contributed.
The Fed sharpens its new policy framework with strong forward guidance.
With polls tightening and debates around the corner, it's getting very interesting.
It starts with the Fed.
Why we think the rotation out of tech could have legs over the next 6 months.
Can't say I agree with my fellow Pittsburgher. But markets may be re-evaluating leadership.
A rebound led by the labor market, housing, autos, manufacturing and consumers.
I don't share my neighbor's worry. But this week reminds it's never a 1-way market.
Led by the household survey, the labor market continues to heal.
They provide short-term funding that oils the economy's gears.
Maybe near-term consolidation. But longer-term, this secular bull has a ways to run.
If the Fed's strategy to spur inflation works better than expected, hikes might come sooner.
Weekly cash commentary
Ultra-easy Fed and record stimulus represent a double dose of support for stocks.
Policy change to let labor market run hot as long as prices don’t.
Securitized credit sectors appear to be holding up well so far.
Weekly bond commentary
Is it a bubble?
Dems took the first swing; now the GOP gets its chance.
Emerging innovators, and not the behemoths, may point way to long-term growth.
Celebrating a democracy milestone—100 years of women’s voting rights
An all-in Fed covers a lot of potential worries and issues.
Create a safe, legal immigration framework for foreign workers.
Stock-bond model keeps 2% equity overweight but shifts from growth bias.
Some aspects of life and the economy are getting back to normal quicker than others.
Liquidity is abundant but fundamentals remain iffy.
Our humanness can trip us up when it comes to investing.
Election Day may be nearing but the market doesn't seem all that invested.
Effective integration of environmental, social and governance factors requires a customized approach.
Any proposal for a Phase 4 stimulus package must balance when and how to bring Americans back to work safely.
Even as coronavirus impacts our lives, we can't ignore the long-term consequences of climate change.
June prime example of how liquidity asset flows benefit investors and the economy.
In times of crisis, human capital and stewardship matter even more.