The Latest Market Commentary From Our Strategists

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Daily Blog

Friday, May 19, 2017
U.S. manufacturing and industrial production reached all time highs before pulling back amid the global slowdown.

The markets bounce back from this week’s selloff is an affirmation of strong underlying fundamentals and a solid economic backdrop. The consumer and manufacturing are two big drivers of the U.S. economy. Consumer spending has been steadily moving up (although maybe not as fast as some would like). The consumer is the game changer accounting for 70% of the U.S. economy and has undoubtedly been doing most of the heavy lifting since the recession but in the past year manufacturing has started to up its contribution. The 1% rise in industrial production in April was the third straight month of increases and the best jump in three years. This bodes well for second quarter GDP growth. However, bond yields are reserving judgement and the 10 year UST yield remains below 2.3%. Please follow industrial production on page 10 of the Global Perspectives™ book.

Weekly Commentary & Statistics

Monday, May 22, 2017

U.S. equities demonstrated resilience bouncing back at the end of another period flooded with political headlines. Oil rallied as investors await the upcoming Organization of Petroleum Exporting Countries (OPEC) meeting.

Monthly Commentary & Outlook

April 2017
  • The start of the Trump presidency has been marked by good economic data and high confidence, while media coverage has reflected lingering uncertainty
  • Rock solid fundamentals — the strongest quarterly earnings outlook in five years — has provided a sustainable foundation
  • Despite stumbles, the administration’s pro-business posture, exemplified by a focus on deregulation and tax reform, has been reassuring to markets
  • Foreign markets have been robust, as broad global diversification hit its stride

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