KEY TAKEAWAYS The United States has raised tariffs to 25% on $200 billion of Chinese goods. Even in the worst-case scenario, we don’t expect a significant impact on the U.S. economy. Raising tariffs could put upward pressure on consumer inflation. Click here to...
KEY TAKEAWAYS We consider first quarter earning season a success based on the upside surprise and resilience of estimates for the rest of this year. It appears an earnings recession has been averted and better earnings days lie ahead, though trade uncertainty is a...
COMPASS CHANGES Lowered long-term muni view from Neutral/Positive to Neutral INVESTMENT TAKEAWAYS With the S&P 500 Index near our year-end fair value target of 3,000, coupled with the slightly softer economic and profit growth outlook, we believe a market weight...
KEY TAKEAWAYS First quarter productivity rose at the fastest year-over-year pace since 2010. Higher productivity could help support output growth as the expansion ages. Increased productivity also helps promote economically healthy wage growth. Click here to download...
KEY TAKEAWAYS Escalating U.S.-China trade tensions caused stocks to sell off more than 2% last week. Globally exposed sectors paced last week’s declines, namely materials, industrials, and technology. The maximum peak-to-trough decline of less than 3% so far this year...
ECONOMY GREEN SHOOTS IN APRIL ECONOMIC DATA Green shoots appeared in U.S. economic data as the economy entered the second quarter. Leading indicators signaled low odds of a recession in the coming year. The Conference Board’s Leading Economic Index (LEI) rose 3.1%...
