Investment Management

By Chris Perras, CIO. This morning, U.S. equity futures are flattish after opening trading last night limit down  (-5%), as concerns over escalating COVID-19 cases (NYC’s become a global hot spot) and their negative economic consequences weighed heavy on U.S. and global investor sentiment. The short-term failure of Congress to agree on and to pass…

By Chris Perras, CIO. Last week US equity markets experienced historic intraweek volatility again. Volatility in the S&P 500 has not been this high since the U.S. credit rating downgrade in 2011, which was a market low. Last week, domestic news surrounding the COVID-19 virus overshadowed better news in China and Korea on that front. …

By Chris Perras, CIO Last week US equity markets experienced significant intraweek volatility but ended the week slightly higher overall.  Realized volatility of the S&P 500 has not been as high as it has over the past 10 days since the U.S. credit rating downgrade in 2011. Last week, domestic news surrounding the COVID-19 virus…

By Chris Perras, CIO. Last week US equity markets experienced volatility last seen early February 2018. After holding up throughout mid-February this year, equity investors sold stocks with aggression. The S&P 500 fell 11.5%, while the Dow was down 12.4%.  In percentage terms, the decline wasn’t in the Top-30, but it was still an aggressive…

By Chris Perras, CIO Equity markets fell late last week with the S&P 500 down 1.3% as gold jumped, energy bounced, and a solid earnings report from Deere on Friday caused a bounce in value oriented cyclical stocks.  Bond yields fell last week with the 30yr Treasury reach new all-time low yield. Bernie Sanders’ is…

By Chris Perras, CIO. Equity markets rallied again last week and the S&P 500 ended at 3380 on the back of Friday’s “payday” savings flows.  10-year Treasury yields are down about 20 bps since mid-January.  Oil is off almost $10 year to date. In the middle of last week, the Federal Reserve stuck to its…

By Chris Perras, CIO. Equity markets rallied early last week to new all-time highs on the back of good earnings and stronger economic data. The S&P 500 was led by Technology and a few healthcare names.  Markets pulled back on Friday on ongoing coronavirus outbreak concerns.  Peak to trough the S&P 500 dropped almost exactly…

By Chris Perras, CIO. Equity markets pulled back sharply late last week, as the ongoing coronavirus outbreak weighed on sentiment and began to drop global growth forecasts just after the China trade agreement had raised them.  The S&P 500 fell 2.1%, with energy and materials the worst groups.  Peak to trough the S&P 500, closing…