Productivity is a key ingredient in keeping this aging economic cycle afloat, and a nice bounce in 2019’s fourth quarter productivity may be a step in the right direction. Ideally, we’d like to see the global economy stabilize and capital expenditures (capex) pick up...
Data reported in January and early February reflected continued, moderate growth in the U.S. economy. U.S. manufacturing data improved from weak levels, defense drove durable goods order growth, and underlying data on the U.S. consumer and job growth was solid. The...
Stocks in developed markets outside the United States have underperformed those in the United States almost without interruption for the last decade. While the long-lasting U.S. stock market dominance has us understandably cautious, we are warming up to international...
After a three-and-a-half-month, largely uninterrupted rally in stocks, the period of calm ended last week as the coronavirus outbreak led to a bout of volatility. Though it is difficult to predict when the virus will be contained and how many more lives might be lost,...
U.S. stocks have staged an impressive rally over the past few months. While we like seeing stocks rise, we’re starting to see signs of overbought conditions and stretched sentiment in market indicators we watch. We still believe in long-term fundamentals, but we think...
