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 - 2020 Q1

The cacophony of impact, fallout, responses, and scale of the COVID-19 coronavirus on a human level and on the economy is shocking.  The speed of change, on a sometimes hourly basis, is impossible to...


Quarterly Market Commentary - 2019 Q4

·       From an aggregated lens, the U.S. and the world have recovered from the Global Financial Crisis (GFC). The global labor economy is at its best in a generation; private wealth or net...


Quarterly Market Commentary – 2019 Q3

2% GDP - World growth is slowing, and there are signs that the U.S. is also slowing.  It is not clear though if this slowing is the economy’s natural return to the New Normal from a...


Quarterly Market Commentary - 2019 Q2

The ECB and the FOMC are both poised take action during their next meeting.  The possible commencement of a new rate cutting cycle is giving a boost to the world equity market after a volatile...


Quarterly Market Commentary - 2019 Q1

·       The stock market is back after a serious drop in the fourth quarter of 2018.  The tightening financial conditions and the threat of more interest rate hikes along with BREXIT, trade...