Stableford Market Commentary March 2023

Market Charts and bags of money

Banking woes pushed the 24/7 inflation watch to the back pages for the first time in a year. Financial stability fear is the first real push-back to the relentless Fed rates hikes, and it is having real impact. Early in March it seemed the Fed was on its way to re-accelerating to a 50 basis point increase. But the bank deposit crisis caused the Fed to slow in order to maintain financial stability. The March Market Commentary will help explain what is going on.

Stableford Market Commentary February 2023

Image of financial markets

After beginning the year on a strong note equity and bond prices fell during February as strong economic data quashed hopes of a rapid Fed pivot. Ten-year U.S. Treasury yields leapt 42 basis points to 3.92% in February following a strong January payroll report of 517,000 additions, far above the highest economist estimate. The February Market Commentary will help explain what is going on.

Stableford Market Commentary November 2022

Financial Advisers looking at market reports

The CPI report date 10- Year U.S. shows treasury yields fell an astounding 27 basis points as investors concluded that we’ve seen peak rates. In total, 10-Year U.S. treasury yields plunged a whopping 45 basis points to close out at 3.6% for the month. Meanwhile, equities jumped 5.4% for the month on the belief that lower rates would support higher valuations. The November Market Commentary will help explain what is going on.

Stableford Market Commentary: October 2022

image of currency and graph showing rise and fall with chart showing overall growth

After a brutal September, the S&P 500 bounced 8% during October. With the heightened fears of the Liz Truss UK debacle in September, news could not get any worse—and it didn’t. When market sentiment and fear reach extreme levels, a constant stream of bad news is required to push indexes down further. In the absence of further unwelcome news, markets bounced. The October Market Commentary will try to help explain what is going on.

Stableford Market Commentary: September 2022

Image of coins stacked in progression least to most, graphs, charts for investing strategy

Interest rates reached levels last seen in 2010 following U.K. prime minister Liz Truss’ surprise deficit-widening budget (and associated borrowing requirements) forced bond sales by U.K. Pensions in order to meet margin calls. U.S. Treasury rates, already moving higher in September, were pushed to even higher levels as panic set in at U.K. pensions in search of liquid assets to unload quickly. The September Market Commentary will try to help explain what is going on.

Stableford Market Commentary: August 2022

August 2022 Market Commentary Investment strategy over time

Groupthink is incredibly powerful. If enough people believe something, will it come true? In the case of equity markets, yes—but only temporarily. Equity investors are slowly learning that the Fed must fulfill its inflation mandate for the first time in a generation. The Fed no longer has your back (as long as inflation persists)as it was previously. The August Market Commentary will try to help explain what is going on.

Stableford Market Commentary: July 2022

Where will the market go next

The Fed remained hawkish during the July meeting, but traders were having none of it, despite continued multi-decade highs in inflation. Yields on the US Treasury 10 Year fell 36 basis points during July as investors begin to price in an economic slowdown. Recall that the 10 Year was nearly 3.5% a month and a half ago. Bond managers have switched from inflation fear to recession fear. The July Market Commentary will try to help explain what is going on.

Stableford