Commentaries

Timely market commentaries from leading investment firms

Market Focus Moves from the Fed to Financial Crisis
by Brad McMillan of Commonwealth Financial Network, 3/23/23

Yesterday, the Fed completed its regular meeting and announced that it would increase interest rates by 25 bps, or a quarter percentage point.

What are JGBs Trying to Tell Us?
by Tom Nemechek of Knowledge Leaders Capital, 3/23/23

Yields on 10-Year Japanese Government Bonds have fallen by about a third over the past two weeks, as shown in the chart below.

Don’t Bank On It
by Sonal Desai of Franklin Templeton Investments, 3/23/23

Financial markets seem to have returned to trying to time a dovish Federal Reserve turn, but Franklin Templeton Fixed Income CIO Sonal Desai says with a tight labor market and inflation running at 5%-6%—don’t bank on it.

March Fed Rate Hike: Sometimes the Moments That Challenge Us the Most Define Us
by Paul Eitelman of Russell Investments, 3/23/23

In a closely watched decision, the Fed lifted its benchmark lending rate by 25 basis points to a range of 4.75% to 5% at the conclusion of its March policy meeting.

Some Thoughts on Banks
by Dan Suzuki of Richard Bernstein Advisors, 3/23/23

Read our latest insight where Dan Suzuki explains what investors need to know about the Silicon Valley Bank collapse.

Research Reports
by Brian Wesbury, Robert Stein of First Trust Advisors, 3/23/23

The Fed raised short-term rates by another 25 basis points (bp) today and made no changes to the expected peak for short-term rates later this year.

Taming Biases in High-Dividend Equity Strategies
by Cherie Tian, Eugene Smit, Christopher Mason of AllianceBernstein, 3/22/23

Income-seeking investors are accustomed to casting wide nets after years of low yields.

Alternative Investments Outlook Post-SVB
by Stephen Dover of Franklin Templeton Investments, 3/22/23

Silicon Valley Bank was a “vital cog” in the private market ecosystem, which leads to many questions—and opportunities—across the alternative investments landscape.

The Growth Slowdown Is Not Over Yet
by Chris Yates of Acheron Insights, 3/22/23

Both the leading indicators of growth and liquidity continue to suggest growth will slow as 2023 progresses.

Fed’s Balance Sheet Balloons
by Brian Clark of Knowledge Leaders Capital, 3/22/23

To shore up Silicon Valley Bank and the other failed banks, the Federal Reserve extended an open-ended line of credit via its Bank Term Funding Program (BTFP) and discount window borrowings.

Stocks Climb Ahead of Fed Meeting
by Team of Charles Schwab, 3/22/23

U.S. stocks climbed for a second straight day Tuesday, with the tech-focused Nasdaq Composite ending near a five-week high, as jitters over bank instability eased.

Funding Unprofitable Growth
by William Smead of Smead Capital Management, 3/21/23

We have been reminding everyone that we believe we are unwinding a financial euphoria episode that Charlie Munger called the biggest of his career, “because of the totality of it.”

Banking, Inflation, and the Fed: Where Do We Go From Here?
by Stephen Dover of Franklin Templeton, 3/21/23

Banking turmoil continues to rattle the global markets and investor confidence.

Incremental Progress Emerging in the Banking Sector Fallout
by Larry Adam of Raymond James, 3/21/23

CIO Larry Adam outlines the positive events that are outweighing negative developments and looks at dynamics to focus on in the week ahead.

Edge of the Edge
by John Hussman of Hussman Funds, 3/21/23

The simplest thing that can be said about current financial market and banking conditions is this: the unwinding of this Fed-induced, yield-seeking speculative bubble is proceeding as one would expect, and it’s not over by a longshot.
View More