Asset Allocation Reports
Asset Allocation Bi-Weekly – Believe It or Not, Fiscal Policy Is Tightening (March 7, 2022)
by the Asset Allocation Committee | PDF The U.S. economy and government economic policies have many moving parts, but investors often latch onto just one or two indicators or policy initiatives to gauge where asset prices are heading. These days, their focus has been on consumer price inflation and the Federal Reserve’s plan to hike… Read More »
Asset Allocation Bi-Weekly – #69 “The U.S. Trade Deficit and Global Prices” (Posted 2/22/22)
Listen »Asset Allocation Bi-Weekly – The U.S. Trade Deficit and Global Prices (February 22 2022)
by the Asset Allocation Committee | PDF When Democrats passed the CARES Act in January 2021, it was viewed initially as a political achievement. Polling from Politico/Morning Consult showed 75% of registered voters supported the bill three months after its passing. Meanwhile, Democrats began touting President Biden as the next Franklin D. Roosevelt. The legislation… Read More »
Asset Allocation Bi-Weekly – Gold: An Update of Current Conditions (February 7, 2022)
by the Asset Allocation Committee | PDF Gold moved steadily higher from the late summer of 2018 into August 2020. Prices then declined toward $1,700 and have since traced out a trading range between $1,700 and $1,900. In this report, we will update our views on the metal. (Source: Barchart.com) We have been holding gold… Read More »
Asset Allocation Bi-Weekly – Real Income versus the Wealth Effect; What is Driving Consumption? (January 24, 2022)
by the Asset Allocation Committee | PDF One of the debates within economics is whether consumption is driven by income or wealth. The outcome of this debate is important for policymakers; if the goal of policy is lifting or constraining growth, knowing which factor is more important to consumption is critical. For example, if the… Read More »
Asset Allocation Quarterly (First Quarter 2022)
by the Asset Allocation Committee | PDF We anticipate that economic growth will continue, but at a more modest pace than last year, and the potential for a recession within our three-year forecast period remains low. The Fed’s prior intransigence on inflation has yielded to a more hawkish stance leading to expectations for the curtailment… Read More »