TIMELY MARKET UPDATES
BCM 2Q21 Market Commentary: A Game of Tug of War—Demand-Driven Economics May Lead to a New Economic Regime
In the first quarter we reflected on the amazing dichotomy between Q1 2020 and Q1 2021, and yet, despite the rapid changes we have seen in the past 18 months, we might dare refer to Q2 2021 as…
Rising Rent, S&P 500 Well Above Long Term Trend, and Delta Variant Momentum
The median rent has climbed in the first half of 2021, putting a strain on lower-income households as the federal eviction moratorium is set to expire. Now with concerns about the nation’s rental…
Record One-Month Climb in Consumer Credit, U.S. Labor Shortage Continues, and Does Slower Growth Lie Ahead?
Consumer credit set a record in May for the largest one-month increase, though the major decline in debt last year— spurred largely by stimulus payments—means it remains well-below its pre-Covid…
Approaching Normalization, JP Morgan Looks Ahead at Equity Returns, and Energy Extends the Commodities Rally
The U.S. economy continues its pursuit of “normal” as both the manufacturing and services PMIs ease off their post-pandemic surges into more typical growth territory. Could this signal an easing in…
Wage Growth, Soaring Liquid Assets, and Employment Trends in States that Ended Additional Benefits Early
10 more states put an end to the $300 pandemic-era unemployment enhancement at the end of June, and it’s having an effect on both job search activity and continuous claim volume. As overall…
The Household Wealth Boom, New Market Highs, and Evolutions in the Yield Curve
Aided by stimulus payments, QE, and last year’s booming stock market, household wealth has ballooned in the U.S., accelerating an already notable trend and pocketing households an additional $13.5…
Manufacturing PMI Hits New Record, Americans Resign in Droves, and a Look at Monetary Policy Across the Globe
Inflation continues to climb in the U.S. as the Market Manufacturing PMI hits a new record on the back of revitalized demand, persistent and extreme supply chain bottlenecks, and soaring producer…
Climbing Prices, Generational Shifts, and Some Perspective on Fixed Income
Producer price increases have paused to catch their breath in Richmond, and though existing home sales are slowing, housing price gains are continuing to soar—all while remaining under the radar…
VIDEO: Investment Committee “Minutes in a Minute” – June 2021
Our new video series, “Minutes in a Minute” launched this month to provide an insider’s look at our weekly Investment Committee meetings. What are the main talking points amongst our PMs? What themes…
Yield Curves Flatten, Household Equity Allocations Soar Higher, and Potential Trend Reversals
The newly hawkish tone from the Fed sent yield curves flatting last week as they continue working to keep rates low… and the effect wasn’t limited to the U.S. Will additional insight be offered when…