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Most families we work with don’t need more accounts; they need the right ones, used in the right way. You may have noticed recent headlines about Trump Accounts, a new federal savings program launching on July 5, 2026, designed to help children build long‑term financial security. Whenever something new like this appears, clients naturally wonder […]
After dropping borrowing rates to zero during the pandemic, the Federal Reserve has dramatically changed course in a bid to fight inflation. As we’ve written about before, higher rates have two key effects: a psychological one – weighing on risk appetite – and a mathematical one, as higher rates reduce the value of future cash […]
In last quarter’s newsletter, equity analyst Dan Mintz considered equity investment in an inflationary environment. Today, we will discuss how the fixed income landscape is changing and share our resultant investment strategy. <br> INFLATION, RECESSION, AND YIELD CURVE SIGNALS With prices for everyday purchases like food and gas remaining high, inflation continues to be […]
There were very few places to hide during the year’s first half as both equity and fixed income markets suffered heavy losses. With companies and consumers facing the highest inflation since the early 1980s, the U.S. Federal Reserve recently, and perhaps belatedly, raised interest rates aggressively to combat inflation. Rapidly rising interest rates swiftly brought […]
As a key tenet of our mission at Clifford Swan is to preserve and grow our clients’ wealth, inflation protection is always on our minds. Recently, however, the topic has made national headlines, with the Consumer Price Index (CPI) for the year ended March 2022 rising 8.5% versus the previous year—the highest jump since 1981. […]
The winds of change blew strong this past quarter, with new trends emerging and others shifting. Specifically, global risks have increased, a move towards globalization is shifting to reshoring, and long-term disinflationary trends, as well as the age of quantitative easing, appear to be paused.Just as the latest COVID-19 surge began to fade in early […]
The economic and financial market backdrops are changing, and the news headlines have been quite disconcerting. After averaging gains of 20% for the previous three years, the stock market is experiencing a correction, with the S&P 500 Index down about 10% year-to-date. Some corrective market action was to be expected and a healthy tonic for […]
U.S. monetary policy is more active than ever, with the Federal Reserve exerting considerable influence on the global financial and economic environment. We believe that the current landscape may warrant asset allocation shifts in investment portfolios. <br> Background – The Rising Influence of the Federal Reserve: The Federal Reserve was established by Congress in 1913 […]
A new year has arrived, along with renewed hope and determination for a better future. Our thoughts are with those grappling with the physical, social, and emotional effects of the current surge in Covid-19 cases.Looking back on the past year from an economic and investment perspective, 2021 provided robust economic growth and strong gains in […]
As we approach year-end, it’s natural to reflect on the investment year that was and, more importantly, consider where to find investment opportunities going forward. Given domestic stocks have performed exceptionally in 2021, investors are increasingly interested in the outlook for equity returns globally. Stocks have come a long way since the depths of the […]
The U.S. economy continues its recovery from early 2020. However, economic indicators point to a slowing rate of growth. Estimates for annual GDP growth for 2021 have come down from 6-8% to around 5.5%. Currently, intense negotiations for additional fiscal stimulus are occurring in our country’s capital and we expect that a substantial stimulus package […]
Two features define the current economic and financial market backdrop. The first and most obvious is the significant increase in government involvement in both areas. Second, and as a direct result of the first, the world is awash in liquidity. By liquidity we mean that cheap money is available to almost anyone who seeks it, […]
Here comes the sun. Across the country, Americans are enjoying summer and the relaxation of Covid restrictions. The optimistic mood extends to very positive economic trends. With widespread vaccination and low case counts, the economy is rebounding strongly and on track for annual GDP growth of 6-8%, the best rate experienced in many years. Pent-up U.S. […]
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