Investment Management

Market Updates

06.08.2020 – 8 Weeks Later: No Depression

June 8, 2020

By Chris Perras. Buoyed by strong weekend money flows into index funds and ETFs, a surprise ECB bond buying program announcement, hedge fund and risk parity mid-week fear of missing out (FOMO), and finally a strong Friday jobs report, (much to the continued dismay on financial TV shows),  the S&P 500 reached its highest level since Feb…

06.01.2020 – Market Update

June 1, 2020

by Chris Perras. The U.S. market rose last week 3% to cut its losses for the year to -5%.  For the month, the S&P500 jumped 4.5%. Moreover, global equities had an even better week, Global equities had a solid week led by the Japan/Nikkei (+7.3%) and France/CAC (+5.6%). I have to remind clients, investors, and…

05.26.2020 – Market Update

May 26, 2020

By Chris Perras, CIO. The U.S. market rose last week on positive trial results for a COVID-19 vaccine and continued economic reopening measures.  As we have mentioned almost weekly since March 23rd, markets are forward-looking, so continue to expect a delay in economic activity relative to the markets. Buoyed by additional positive weekend vaccine news,…

“Time in” beats “timing”

May 18, 2020

Weekly Market Update, 2020-05-18. Time in wins again. Much to the dismay of the financial news channels, equity markets are up over 3% on weekend. This was spurred by comments of Chairmen Powell, strong oil prices and positive vaccine news from Moderna. This proves again that it’s really hard to time investments in and out…

Moving up

May 11, 2020

Weekly Market Update, 2020-05-11. Moving up, much to the dismay of the financial news channels. Yes, equity markets continued their upward move higher last week. Investors generally ignored hourly reports on “historically bad economic data” and some negative U.S. and China trade chatter. The rule remains: “Don’t fight the Fed.” The S&P 500 rose 3.5%,…

05.04.2020 – Market Update

May 4, 2020

By Chris Perras, CIO. Equity markets were mixed last week with the S&P 500 falling .2% on the back of a Thursday and Friday selloff caused by President Trump returning to the blame China playbook for the virus and our current economic situation. The Federal Reserve took a pause and left policy unchanged at its…

04.27.2020 – Weekly Market Update

April 27, 2020

By Chris Perras, CIO. The Dow Jones Industrial Average DJIA, +1.10% closed 260 points higher on Friday, ending the week 1.9% down.  The Japan Nikkei (-3.2%) and German DAX (-2.7%) were the laggards.  Sector wise materials rocketing 11.1% (boosted by gold), tech (+4.5%), and energy (+2%) rounded out the top three. Financials (-4.2%), utilities (-3.3%)…

Doomsday is not here

April 20, 2020

Weekly Market Update, 2020-04-20. Despite bad economic data and constant financial news network doomsday talk, the S&P 500 rallied 3% last week.  It closed the week at 2875.  Basically, where it based from January 2018 through Sept 2019.  In doing so, it stretched its one-month gain to 14% and pared its year-to-date loss to 11%.…

Sentiment Shifting

April 13, 2020

Weekly Market Update, 2020-04-13. The S&P 500 is basically flat this morning at 2775. Markets were closed Friday for the Easter weekend. Through Thursday’s close, changed sentiment rallied the S&P 500 about 25% from a low reached on March 23. The broader market average has also retraced half of its initial drop from its record…

Thaw up and coming

April 6, 2020

Weekly Market Update, 2020-04-06. S&P 500 futures are up nearly 4% pre-opening this morning. This thaw would erase last week’s 2.1% decrease and chip away at the YTD loss of 23%. The 10-year Treasury rate is up 7 bps to 0.67%, retracing a good portion of last week’s decline. Virus declining Risk sentiment is positive…