Looser Financial Conditions Should Support Economic Growth and Stocks in the Second Half

Proxy metrics for financial conditions from the US dollar, to interest rates to corporate bond spreads have been loosening since June and suggest continued moderate economic growth in the second half of 2017 and a firm equity market. In this post we’ll briefly highlight how these measures of financial conditions point to a firmer manufacturing […]

Are Investors Switching From Active to Passive or From Passive to Cheaper Passive?

Pic1

It’s been awhile since we’ve weighed in on the active/passive debate so we thought we’d toss our hat in the ring yet again and try to explain the asset migration that is taking the fund management industry by storm. The “wisdom” behind switching from active to passive investment products goes something like this: Passive products […]

Three Reasons to Expect a Stronger Euro in the Months to Come, and What it Means for Your Portfolio

With the euro up another 50bps today against the USD, we thought it timely to review some fundamental factors that should act to support the longer-term trend higher in the euro. No doubt, this week’s substantial move was partially instigated by what were viewed as hawkish remarks by the ECB. Yet, there are at least […]