April 2020 Overview

Macro Overview The U.S. and global markets were encouraged with the announcement of reopening plans by various states and the probability of reigniting economic activity. Individual states started to ease restrictions and allow certain businesses to reopen for the first time since a state of emergency was declared on March 14th. Analysts and economists agree […]

Economic & Market Commentary April 2020

Choose an adjective, the past six weeks have been unrelenting, anxiety-provoking and downright scary. The spread of the coronavirus, combined with disarray in the energy markets, abruptly brought the decade-long bull market to an end on March 12th, when the S&P 500 index fell 20% below its February 19th all-time high. But that was only […]

Inflation Silent Acceleration

January’s Consumer Price Index (“CPI”) indicated inflation rising to 2.5%. Analyzing economic data for the last decade has shown a historically low rate of inflation, compared to any other period in U.S. history. In 2020, we are seeing signs of more robust data that could show a higher rate of inflation going forward. Inflation expectations […]

Review of the Markets and Economy – March 2020

Macro Overview Fear has been permeating capital markets worldwide as the impact of the (COVID-19) coronavirus continues to evolve. Global economic forecasts have been revised downward by the International Monetary Fund (IMF) and the World Bank as factory closures, quarantines, and travel bans continue to hinder numerous industries. The Federal Reserve helped alleviate markets with […]

Top Guns Manager of the Decade Awarded to Tradition Asset Management by Informa Financial Intelligence

      Tradition Asset Management today announced that it has been awarded a PSN Top Guns distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers. Tradition Asset Management was honored with a Top Guns Manager of the Decade rating for its Dividend Value strategy. “It’s great for […]

February 2020 Review of Market and the Economy

Macro Overview Amid uncertainty surrounding the spread of the coronavirus throughout China and internationally, global equity and bond markets reacted to supply chain disruptions and factory closures. China’s vast manufacturing sector, which is an essential component of supply chains for many U.S. companies, has become vulnerable to plant closures and employee quarantines throughout the country. […]

After the 10-Year Bull Market, Are Stocks Overvalued? After the 35-Year Bull Market in Bonds, Are Bonds Overvalued?

While no one can ever predict the future, valuations do matter and are in our opinion, very important in determining future results. The graph below shows that bonds are overpriced compared to stocks. The historical comparison of the Standard & Poor’s (S&P) 500 price-to-earnings (P/E) ratio to the 10-year Treasury bond P/E ratio for the […]

January 2020 Economic & Market Commentary

What a difference a year makes! Unlike last year, there was no lump of coal in investors’ stockings in 2019. Instead most got a pot of gold. It was a difficult year to lose money, as virtually all asset classes ended the year with a profit – a total reversal from 2018 when the Grinch […]

2020 Vision: A View of the Economy and the Markets

A view of the U.S. economy is highly speculative with all the known unknowns: Trade Wars, Impeachment, Brexit, and the U.S. Presidential Election to name a few. Nonetheless, we look for modest growth of 2% in 2020 as measured by Gross Domestic Product (GDP). Heightened concerns of a recession that peaked in the summer have […]

December 2019 Review of Markets and Economy

Macro Overview Markets have been undermined for weeks by the uncertainty of a phase-one trade deal outlined by U.S. and Chinese trade delegates. Optimism for a probable U.S.-China trade deal stemmed from the progression toward a phase-one deal that might include a rollback of certain tariffs by both the U.S. and China. Global equity markets […]