31 Dec 2010

Posted at 15:03h in The Friday Brief by
In conversations with clients, friends, and relatives this past week there seemed to be an almost universal ‘good riddance to 2010.’ But there also seemed to be hope that the now one will bring improvement. We join the hope that faith, optimism, and resilience will prevail.

17 Dec 2010

Posted at 15:06h in The Friday Brief by
Inflation continues to be subdued at the consumer level, but one wonders for how long as prices continue to rise for producers of goods and services. Other economic indicators released during the week were mostly positive, some strongly so. The US equity markets are largely unchanged on the week while Treasures gave up .56%. However, there were two strong buying days for Treasuries indicating the two-month slide may be reaching a climax.

10 Dec 2010

Posted at 15:08h in The Friday Brief by
The biggest news this week was that of the deal reached between President Obama and Congressional Republicans on extending the Bush tax cuts. On the news, the S&P surged two thirds of a percent then settled back as investors considered both the potential for higher deficits, at least in the short run, and the difficulty of getting it through Congress as liberal Democrats railed against the measure throughout the day. Obama defended his deal saying he was able to preserve tax breaks for the middle-class and extend unemployment benefits that were set to expire. 

03 Dec 2010

Posted at 15:10h in The Friday Brief by
The US stock market as measured by the MSCI US Broad Market Index is up 2.4% for the week. The S&P is up the same and the Dow is up 2.3%. Various economic reports released this week proved considerably stronger than expected, boosting the outlook for stocks. Wednesday was a particularly good day, when it was reported that private employers added more jobs in November than previous months and the Fed’s Beige Book report of regional economies concluded that “the economy continued to improve, on balance” from early October to mid-November. Today’s jump in the unemployment rate so far, has not stemmed the advance.