The message the Federal Reserve conveyed from Jackson Hole was the economy is picking up momentum and an increase in interest rates is likely in the cards in the near future. This still puzzles us as to what they are focused on, except the fact that rates should have never been kept so low for…
Read BlogThis Friday, Federal Reserve Chairwoman Janet Yellen makes her speech regarding her views on monetary policy, at the annual economic symposium in Jackson Hole. Every year central bankers around the globe meet in Jackson Hole to discuss global economic issues. Please click the link below to continue reading: Market in a Minute 2016-8-23
Read BlogThe PVG Loss Averse Equity Income Strategy is having a very strong year, as of August 16th the strategy is up 9.4% net of fees. This is beating both the stock and bond market. The fund is very conservatively positioned currently with about 10% net market exposure. Please click the link below to continue reading:…
Read BlogOne of the things we were watching from last week to confirm the strong Employment Report (we discussed our doubts about the methodology of calculation last week) was the Retail Sales Report. We were surprised as to how bad Retail Sales were, 0.0% and ex auto -0.3%. Please click the link below to continue reading:…
Read BlogTINA, which stands for, “There is no alternative” has been a popular theme over the last few months as bonds have continued to rally and yields have become more and more depressed. Multiple sovereign debt structures are now yielding negative rates. Please click the link below to continue reading: PVG – Dynamic Core Monthly Update…
Read BlogThe market reacted very positively to the Employment report last Friday. The market liked the 255,000 new jobs, however the report appears to be inflated. There is an adjustment made by the Department of Labor called the Birth-Death ratio, which is the net number of jobs provided from newly started businesses (births) and closings (deaths)…
Read BlogThe GDP report last week was much weaker than expected. The year to date growth was .8% in the first quarter and 1.2% in the second quarter, for an average of 1.0%. The Employment report is on Friday, and we would not expect a great report as the economy is too slow to drive much…
Read BlogWe are in the mist of earnings season and political season. The fireworks are definitely on the political side. Thus far the earnings have not been too exciting, modestly better that expected. There are no signs of a pickup. Please click the link below to continue reading: Market in a Minute 2016-7-26
Read BlogThe PVG Loss Averse Equity Income strategy had a very strong second quarter, up 3.6% net of fees, besting both the stock and bond market, and up 5.2% thru the end of the second quarter. The current yield on the portfolio is 4.9%. Although the yield has dropped a little as stock prices have gone…
Read BlogThis week is the first full week of 2nd quarter earnings reports, thus far what we have seen are the banks having better than expected earnings, yet still lower on a year over year basis. We believe banks are an interesting area to invest, at least as a hedge against rising interest rates. Please click…
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