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Russia Smiles . . . Or Maybe Bares Its Teeth
Observations on the Capital Markets – Week Ended May 9, 2014 On Thursday, Putin suggested the separatists postpone their vote (a suggestion they appear to have ignored). He also said Russia had pulled...
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Economy Still in the Goldilocks Zone
Observations on the Capital Markets – Week Ended May 30, 2014 The U.S. economy shrank in the first quarter, but every indication is that weather, rather than a cyclical downturn, was the driver. While...
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Russia Update: Despite Conflict, Opportunities Remain
Despite an uptick in volatility and spreads, Russia remains an important market for investors. For fixed income, the recent widening of spreads that followed the country’s intervention in Ukraine may...
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Markets are Unfazed as War Risks Escalate
The Capital Markets Were Very Calm Last Week, Considering The Rising War Risks Equities: After three strong weeks, the S&P 500 ended the week down 0.7%. Higher oil prices boosted the index’s...
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An Accommodative Fed and a Strengthening Economy Outweighed Geopolitical Fears
Observations on the Capital Markets – Week Ended June 20, 2014 Iraq news didn’t spark a flight to safety and it’s not clear yet whose side we’re on (or should be on). Fed policy seems to be on...
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Market Noise: Lowering the Volume for Summer
Observations on the Capital Markets – Week Ended June 27, 2014 Summer, summer, summertime – time to sit back and unwind. The Fresh Prince and DJ Jazzy Jeff might have been talking about the quiet tone...
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Puerto Rico Bonds Part II: Understanding the Volatility
Follow-up to February’s article Puerto Rico: A Delicate Balancing Act. In June of 2014 the Commonwealth of Puerto Rico’s legislature passed the Puerto Public Corporations Debt Enforcement and Recovery...
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Labor Market Looking More “Healed” Than “Healing”
Observations on the Capital Markets – Week Ended July 18, 2014 Federal Reserve Chairwoman Janet Yellen’s Congressional testimony this week, in my view, was not pointing to bubbles. In her testimony,...
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Geopolitics Trumped Economics in Last Week’s Capital Markets
Observations on the Capital Markets – Week Ended August 8, 2014 Ukraine developments, more than economic news, seemed to drive the day-to-day pattern of market returns. Russia first massed troops on...
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Summer Ends Quietly…with a Market-Moving Speech
Last week in the capital markets: A Quiet Last Week of August. Economic news again suggested the U.S. economy is fine, while Asia and Europe are facing headwinds. Mario Draghi’s dovish-sounding...
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