Buy the Threes, Sell the Fours

Despite an economy late in its cycle, the U.S. has considerable momentum, and the rate of expansion is likely to accelerate as we move through 2018. We expect to see 3% GDP growth, 3% wage inflation, and 10-year Treasury yields above 3% - a great combination for both Main Street and equity investors on Wall Street

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Mar 16, 2018

The Late Innings of the Business Cycle?

As is typically the case in the late innings of a business cycle, leverage is elevated and rising. The Federal Reserve (Fed) has moved into action...

Mar 15, 2018

MLP Market Update

Today, the Federal Energy and Regulatory Commission (FERC) announced that it will disallow income tax allowance cost recovery in MLP pipeline rates. FERC is requiring every...

Mar 15, 2018

Shortening Duration and Dialing Down Credit Risk in High Yield

Generating income is a key objective for many investors, and one that is...

Mar 14, 2018

Tariffs and Trade Trigger Volatility

The announcement of a 25% tariff on imported steel, and 10% on aluminum, caused fears of a trade war, triggering volatility. Tariffs will benefit domestic producers of...

Mar 9, 2018

Booming Job Growth in February, But Surprisingly Slow Wage Growth

The U.S. economy added 313,000 jobs in February, well above economist...

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