The fourth quarter of 2019 brought the decade to a close in a manner consistent with U.S. investors’ experience during the past ten years. Calming trade tensions propelled the S&P 500 index to a 9.07% total return and 22 new all-time closing highs. Trade tension between the U.S. and China has been one of the largest macroeconomic risk factors hanging over the global economy for the better part of the past two years. Therefore, it’s no surprise that ...

Earnings season kicks off this week and analysts' expected EPS growth in the MSCI USA index is currently at 10%+ through 2021. Strong growth from tech firms is also helping boost the Nasdaq Composite Index, which just saw its market value climb to over half of that of the S&P 500. Over in the bond market, 10-year U.S. Treasury (UST) yields look to be revisiting patterns from 2012 and 2016; could they be poised to rise after hovering near historic lows for much of the last year? Finally, it's ...

What are your hopes and expectations for 2020? Corporate earnings markets are certainly feeling optimistic, as demonstrated by the historic highs of the forward P/E ratio, but earnings season will have to deliver if we hope to keep the good times rolling. Meanwhile, the bond market looks to already be experiencing some hardship, with the Barclays U.S. Corporate Bond (BBCB) Index yield-to-duration ratio kicking off 2020 by sinking to a record low. How do your clients feel about taking on greater ...

U.S. companies have repatriated more than $1 trillion from foreign subsidiaries to their U.S. parents since 2017—more specifically, since the passing of the Tax Cuts and Jobs Act (TCJA). Unemployment has since seen record lows and consumer spending remains strong, despite ongoing weakness in manufacturing and trade. But companies quickly