Quarterly Market Commentary - 2022 Q2
The financial markets have not stabilized since last quarter. Upside surprise for inflation, continuation of Russia invasion of Ukraine, slow recovery of the supply chain, and global central bank...
Quarterly Market Commentary - 2022 Q1
On March 11, 2020, the World Health Organization, officially declared a global pandemic. Two years hence, we are moving from a pandemic to an endemic. Endemic means that the infection has reached a...
Quarterly Market Commentary – 2021 Q4
Last quarter, we anticipated the birth of a new variant that requires yet to be developed vaccines to protect against. Unfortunately, the new mutated variant, Omicron, has proven to be...
Quarterly Market Commentary - 2021 Q3
The COVID-19 Delta variant has slowed the economic recovery, but we are glad to see the rates of infection, hospitalization and death have waned. Unless there is another wave or a new unknown strain...
Quarterly Market Commentary - 2021 Q2
Executive Summary Resurgence of Covid cases and the anti-vaxers could dampen economic activities and thus diminish demand driven inflation pressure. The U.S. economy has likely passed...
Quarterly Market Commentary - 2021 Q1
Executive Summary The three known COVID-19 variants are contributing to a third or fourth wave of infection, hospitalization, and death around the world. All three strains have arrived in the U.S....
Quarterly Market Commentary - 2020 Q4
The recent experiences from 9/11, 2008 and 2020 should clearly remind us all that the future is unknowable. Regardless of how smart, thoughtful and experienced one may be, predicting the future is...
Quarterly Market Commentary - 2020 Q3
We had a V-shaped bounce after a sudden and steep fall, but the V-shaped bounce has not yet returned the U.S. or global economy back to pre-COVID-19 “normal” economic activities. We are also...
Quarterly Market Commentary - 2020 Q2
The Un-Normal Many refer to the current conditions as the “new” normal. I think of this as the “un”-normal. There is nothing normal about what is transpiring. We have a novel...
Quarterly Market Commentary - 2022 Q3
Road to a Sustained, Above Trend Inflation The initial reaction to Covid-19 was to take every precaution to stop its spread. This resulted in the shutdown of Wuhan, where the virus was first...