Research & News
Bi-Weekly Geopolitical Report – Introducing the U.S. Space Force (January 29, 2024)
by Daniel Ortwerth, CFA | PDF On December 20, 2019, something extremely rare happened in the United States Armed Forces: An entirely new branch of service was born. For context, the Army, Navy, and Marine Corps were born by acts of the Continental Congress in 1775. The Coast Guard came into being by act of… Read More »
Asset Allocation Quarterly (First Quarter 2024)
by the Asset Allocation Committee | PDF The likelihood of a recession occurring during our forecast period has declined. Domestic economic growth should be robust over the forecast period, although momentum has slowed. Elevated geopolitical tensions and ambiguity related to the U.S. elections are likely to create volatility in the markets. Inflation volatility is likely… Read More »
Keller Quarterly (January 2024)
Letter to Investors | PDF About 125 years ago, a reporter spied J.P. Morgan on the streets of New York and ran over to get a prediction and a quote. “What will the stock market do?” the reporter asked the great banker and investor. “It will fluctuate,” was Morgan’s droll reply. The reporter dutifully reported… Read More »
Asset Allocation Bi-Weekly – How Does Powell Define Restrictive Monetary Policy? (January 22, 2024)
by the Asset Allocation Committee | PDF Traditionally, the term “restrictive monetary policy” has been associated with a fed funds interest rate that is high enough to slow economic activity, but recent remarks from Federal Reserve Chair Powell suggest there may be a broader interpretation. Despite casting doubts on rate cuts just two weeks prior,… Read More »
Bi-Weekly Geopolitical Report – What If Russia Wins in Ukraine? (January 16, 2024)
by Patrick Fearon-Hernandez, CFA | PDF For the last two years, we’ve written a great deal about the evolving China-led geopolitical bloc and Beijing’s allies within it, including top partner Russia and other like-minded nations such as North Korea, Iran, Cuba, and Venezuela. We believe the geopolitical challenge to the United States and its allies… Read More »