Date: July 2016

4 posts in July 2016


The Answer to the Question on Investors’ Minds: Stay the Course

For much of the year, beginning in January when the stock market had its worst start of a new year in history, we’ve been asked periodically why our portfolios haven’t been materially more defensive. The question has arisen at other times during the year, such as in aftermath of the UK’s “Brexit” vote, an event…

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U.S. Manufacturing Update

The report on Durable Goods today: New orders for Durable goods decreased 4% in June making this the biggest drop since August 2014. The core measure of new orders for non-defense capital goods excluding aircrafts is up 0.2% in June but still down -3.7% YoY. While the overall new orders decline of 4% looks bad,…

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July Quick Read on the US Economy

The economic news improved somewhat from my last update.  The labor market looks more solid than it did a month ago and there are some signs the manufacturing sector may have found it footing.  I believe the Brexit vote will likely have only a modest direct impact on the US, but will make all observers…

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June/Q2 Recap: Beyond Market-Rattling Events, the Data Prevail

If you were to look only at where the market closed out June, with the S&P (SPX) at just under 2100 (2098.87 SPX) and compare that to month-end for May (2096.96), you’d see that little had changed. Quarter-to-quarter, the rise from the Q1 close of roughly 2060 to the Q2-end is nearly a 2% gain….

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