Jun 1, 2010 | Market Commentary
The potential effect of deteriorating fundamentals in Europe on the already fragile U.S. economy leads us to push our target for an interest rate hike by the Federal Reserve well into the first quarter of 2011 at the earliest.
May 1, 2010 | Market Commentary
We maintain an underweight view in the financial sector and see severe challenges to the industry going forward.
Apr 1, 2010 | Market Commentary
In an extension of last month’s market commentary, we reemphasize the need for investors to monitor potential credit risks closely both in their portfolios and banking relationships.
Mar 1, 2010 | Market Commentary
We do not anticipate the Fed raising rates until Q4 2010 at the earliest, and see high probability that action will not be taken until early 2011.
Feb 1, 2010 | Market Commentary
The debate will intensify into 2010 over whether Governor Hoenig’s vote is a sign of changing sentiment at the Fed to focus more on inflationary pressures, or a misdiagnosis of the true state of the economic recovery.
Jan 1, 2010 | Market Commentary
We welcome the effects of intervention to stabilize the financial system, but we remain concerned about the lingering effects of excessive stimulus spending and the markets’ reactions as this spending begins to be withdrawn in 2010.
