Month: February 2013

February
25

Provided by: Jon McGraw

Stock Markets Dip, Education & First Friday!

Like Canadian geese migrating in anticipation of winter, stock markets moved south last week in anticipation of monetary tightening. No surprise there! Minutes from the January Federal Reserve Open Market Committee meeting were released mid-week. After reviewing them, many analysts decided that quantitative easing may begin to taper off before the end of the year….

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February
25

Provided by: Jon McGraw

Economic Notes – February 25, 2013

(0) The CPI inflation number for January was flat, which was a bit less than the slight increase of +0.1% expected.  However, the core inflation number—which excludes more volatile food and energy prices—gained +0.3% as opposed to an expected +0.2%.  The difference was mainly due to an energy price decline in the headline figure, as…

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February
11

Provided by: Jon McGraw

Stocks up, Gold down – Plan your own Funeral

Like a climber determined to reach a peak, stock markets continue to move higher. Signs of strength in U.S. and international trade data improved the outlook for economic growth at home and abroad. The U.S. trade deficit narrowed in December, a sign that the economy did better than expected during the fourth quarter of last…

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February
11

Provided by: Jon McGraw

Economic Notes – February 11, 2013

It was a relatively light week from an economic standpoint. (+) Non-manufacturing ISM for January was right at par with consensus, at a reading of 55.2 versus an expected 55.0. The look-ahead components of new orders and current business activity were weaker than in December, but remained in growth mode. The employment piece rose a…

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February
11

Provided by: Jon McGraw

Q & A: When does “High Yield” get expensive?

One question we’ve heard a few times expressed by both the media and investors is: when does high yield get expensive? We typically measure bond valuations in terms of yields compared to inflation and ‘spreads’ of one asset class to another. Generally, high yield bonds have a different experience than more conventional investment-grade bonds. While…

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February
04

Provided by: Jon McGraw

The future’s so bright, I gotta wear shades!

For the last several weeks investors have appeared to agree with the sentiment expressed in the 1980s song by Timbuk3. A high degree of investor optimism has helped push markets higher. The trend continued last week as the National Association of Active Investment Managers’ weekly survey found that professional investors are as bullish as they…

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February
04

Provided by: Jon McGraw

Economic Notes – February 4, 2013

With employment, ISM and GDP all in the news, last week was one of the higher-profile reporting weeks in some time. (0) To set the tone, the Federal Open Market Committee met mid-week and no changes in policy were announced (see last Wednesday’s special note) and the theme remained accommodative, as expected. The statement addressed the continued…

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