Media – Blog
April 10, 2024
Hotter than expected inflation readings continued in March as headline CPI increased 3.5% year-over-year, 0.3% higher than the yearly increase seen in February, and 0.1% above expectations. Core inflation increased 3.8% year-over-year, in-line with last month's reading, but also 0.1% above expectations. Energy and shelter prices contributed over 60% of
Read more
April 2, 2024
Q1 2024 Performance: Risk Assets Outperform The first quarter of 2024 saw everything from stocks, gold and even Bitcoin rise to record highs as it becomes increasingly likely that the Fed will be able to achieve a soft landing for the U.S. economy. Treasury yields were mixed during the first
Read more
March 22, 2024
Stable Guidance Amid Inflation’s Bumpy Road Yesterday, the Federal Reserve left the Fed Funds Target Range unchanged at 5.25% – 5.50%. The Committee’s statement was largely unchanged from January, noting solid economic expansion, strong job gains, and low unemployment. The Fed published their updated Summary of Economic (SEP), which did
Read more
March 19, 2024
Powell: "Not Far" From Rate Cuts In Fed Chair Powell’s semiannual testimony before Congress, he suggested the FOMC is getting closer to cutting rates by saying “We’re waiting to become more confident that inflation is moving sustainably at 2%,”…..“When we do get that confidence — and we’re not far from
Read more
March 1, 2024
Another Record Month for the Corporate Bond Market The investment-grade corporate bond market hit a record for new issuance for a second straight month in February. Blue-chip companies sold a February record of $195+ billion of bonds last month, topping the previous February 2023 record of $150.9 billion. Approximately $50
Read more
February 16, 2024
Economic Data Supports Feds Delayed Rate Cuts Data released this month supports the patient tone regarding rate cuts that both Fed Chair Powell and other Fed members have been conveying so far this quarter. Stronger inflation and labor market data has led to a recent surge in rates, with the
Read more
February 14, 2024
Commentary - Full Year 2023 The venture debt markets got off to a historically tepid start in 2023 and continued its slow pace through Q2. According to Pitchbook, despite this slow start, the market rebounded significantly in the second half of 2023. Ultimately, total funding ended up at a four-year
Read more
January 19, 2024
Labor Market Steady with Signs of Slowing The December employment report was mixed: although non-farm payrolls came in higher than expectations at 216,000, there were 845,000 people who left the labor force, the largest drop in the labor force participation rate since January 2021. For 2023, there were a total
Read more
January 4, 2024
2023 Recap Despite the majority of market participants forecasting a recession in 2023, GDP rose over 2% in both the first and second quarters and jumped 4.9% in the third quarter, while both equity and fixed income markets had positive returns in 2023. The resilient consumer, cooling inflation, and the
Read more
December 4, 2023
November - The Everything Rally It was truly a November to remember as equities, Treasuries, investment grade & high yield corporate bonds, and commodities all posted solid gains. The primary drivers were a dovish pivot from Fed members and expectations of a soft landing for the U.S. economy, which translated into
Read more