Market Commentaries
PMC Weekly Review - May 18, 2012
In spite of the hype leading up to Facebook’s initial public offering today, stock prices this week suffered one of their worst declines in some time. The positive atmosphere surrounding the Facebook IPO, which was priced at $38 per share, and began trading today at about $42, did little to help the overall market, as the S&P 500 suffered its largest weekly decline since November. At the epicenter... »»
PMC Weekly Review - May 11, 2012
There has been much discussion in the financial press recently about the looming “fiscal cliff” that is due to impact the U.S. economy at the beginning of 2013. In short, the fiscal cliff describes the combination of expiring Bush tax cuts, new tax increases that are part of Obamacare, and automatic spending reductions that were negotiated as part of the debt-ceiling impasse from last August. There is a wide range of projections... »»
PMC Weekly Review - May 4, 2012
The drumbeat of softening economic data continued this week, and it finally caught up with stock prices. The equity markets have been surprisingly resilient in recent weeks as evidence built that the economy is slowing, but this week’s results were too much for stock prices to overcome. Today’s worse-than-expected employment gains teamed up with lackluster factory orders and non-manufacturing services data from earlier in the week to provide the latest indication of... »»
S&P's Downgrade of the U.S. Long-Term Rating: Potential Implications -
August 7, 2011
We would expect that once the dust settles after the immediate reaction to the downgrade news, the market's focus will quickly return to assessing the outlook for economic growth.
In such an environment, investors should consider rebalancing portfolios back to their target strategic allocations; favoring high-grade corporate bonds over Treasurys; consider incorporating an allocation to a "dynamic" fixed income solution; overweight large cap equities relative to small caps; favor growth over value; and maintain a bias toward domestic equities relative to international developed markets stocks. »»
Market Environment
Economic and Market Overview – Fourth Quarter 2011
The fourth quarter of 2011 was one in which economic data showed that the domestic economy has proved surprisingly resilient. However, the global economy continued to move in fits and starts as the ongoing euro-zone debt crisis at certain times seemed to be on the verge of resolution and at other times at the point of complete meltdown. Economic data released during the quarter pointed to a thawing in the employment situation, signs of a potential bottoming in certain segments of the housing market, and generally improving economic activity. »»
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