Asset Allocation Reports
Asset Allocation Bi-Weekly – Let’s Talk About Tariffs! (November 11, 2024)
by the Asset Allocation Committee | PDF In recent years, tariffs have made a surprising comeback. Once widely condemned as a relic of the protectionist past, tariffs reemerged in 2016 as a policy tool against China and are now being considered for implementation on goods from all other countries. Populists tend to believe that these… Read More »
Asset Allocation Bi-Weekly – The Inflation Adjustment for Social Security Benefits in 2025 (October 28, 2024)
by the Asset Allocation Committee | PDF Even for dedicated, successful investors who have built up a substantial nest egg, Social Security retirement and disability investments can be an important part of their financial security. For many Americans, Social Security benefits may be the only significant source of income in advanced age. On average, Social… Read More »
Asset Allocation Quarterly (Fourth Quarter 2024)
by the Asset Allocation Committee | PDF Our three-year forecast includes balanced economic growth, albeit at a slower pace than recent experience, and inflation settling above the Fed’s target rate. The Fed is expected to continue easing at a measured pace over the next year. We initiated a position in long-duration, zero-coupon Treasurys as a… Read More »
Asset Allocation Bi-Weekly – The Yield Curve Un-Inverts (October 14, 2024)
by the Asset Allocation Committee | PDF Although the financial press has failed to discuss it at length, the United States bond market has just exited a long period in which the yield curve (the range of bond yields across maturities) was inverted (longer-term yields were lower than shorter-term yields). One popular summary measure of… Read More »
Asset Allocation Bi-Weekly – Presidential Cycles and Stock Performance (September 30, 2024)
by the Asset Allocation Committee | PDF As the November elections approach, there has been significant debate over which presidential candidate — former President Donald Trump or Vice President Kamala Harris — would be better for US equity markets. Both candidates have made bold promises about their plans to boost national prosperity. Trump has vowed… Read More »