Posted on February 27, 2013 by Joe Kringdon
Oh boy, are we a mercurial bunch!
Back in the summer I went on record that, amid the malaise, I was bullish on the market. As it turns out, equity market indices, by and large, printed positive returns for 2012. The S&P 500 Index was up 16% or so for the year. As of January 31, we have continued the positive upward momentum.
I don’t write these lines to gloat or to tap out a victory dance. As someone once told me, they don’t hand out trophies at half-time. Or perhaps more to the point, it’s harmful to exit a moving vehicle before coming to a complete stop. I share this because, while investors are warming to the opportunities in equities, the crowd noise from observers and the media pundits suggests that they believe the game is nearly over, and the journey will come to an abrupt end. Wow – the ‘haters’ are out in force!
Filed under: Equity Market Insights, Joe Kringdon | Leave a Comment »
Posted on February 11, 2013 by Marco Pirondini
We’ve seen a lot of GDP data recently that, at first look, may seem a bit concerning. But if we take a moment for analysis, much of the news is actually good for the economy and the markets. (more…)
Filed under: Equity Market Insights, Europe, Marco Pirondini | Leave a Comment »
Posted on February 8, 2013 by Mike Temple
We have seen something interesting unfold over the last month in the markets – signs of what we believe are the beginning of a Treasury breakout. Yields are starting to push through levels that have been fairly stable and steady over the last year. Our observation would be that we are starting to see a more secular move out of U.S. Treasuries and other high quality fixed income assets. (more…)
Filed under: Fixed Income Market Insights, Macroeconomics, Mike Temple | Leave a Comment »