Author Archives: Sam Wardwell

About Sam Wardwell

Sam Wardwell, CFA, is Senior Vice President and Investment Strategist at Pioneer Investments. He joined Pioneer in 2003.

Strong Jobs Report Joins Improving U.S. Employment Trends

According to the “establishment” survey, payroll employment rose 257k in January; November and December were revised higher by +147k (257k+147k=406k). The normal annual review resulted in 2014 being revised higher by 245k. (Note: the 147k Nov-Dec revision is part of the … Continue reading

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Central Bank Surprises: Is the FOMC Sounding an Alarm?

The Swiss were first, followed by the Indians, Canadians, Danes (3 times!), Japanese, and Russians (again last week) – central banks are changing policies without telegraphing their intentions in advance. In a period of rising central bank activism and high … Continue reading

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Markets Dance to the Tune of the ECB

The European Central Bank (ECB) followed through on ECB president Mario Draghi’s pledge that it would re-expand its balance sheet by formally launching a quantitative easing (QE) bond-buying program which included sovereign bonds. In essence, it’s €60 billion/month from March … Continue reading

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How Did Switzerland and India Surprise Currency Markets?

Both the Swiss and Indian banks surprised the markets last week by moving between meetings – upsetting the de facto status quo of recent years where policy moves were only announced at formal meetings. The Swiss National Bank (SNB) dropped … Continue reading

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Equities Off to a Soft Start – Oil Story Continues to Unfold

Auto sales were strong in December, dominated by truck and SUV sales, as manufacturing continued to be solid. Unemployment ticked further downward to 5.6% but as a byproduct of lower employment participation. After reaching record levels in December, stocks began … Continue reading

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