Stableford Capital Insights

Things are going well, no doubt. But is all as well as it seems? Once again equities are very narrow, with a handful of large capitalization stocks leading the charge. Read the January Market Commentary for a detailed overview of the situation.

Federal spending was substantial in 2023, particularly late in the year. Job growth has largely centered around government and healthcare, not cyclical sectors that might indicate a path to future growth. Read the December Market Commentary for a detailed overview of the situation.

Tighter financial conditions are impacting both stocks and the real world where higher interest rates are impacting auto loans, credit cards and overall business conditions. Read the October Market Commentary for a detailed overview of the situation.

After one- and one-half years of raising rates, the fed is finally getting the slowing economy it wants. But is it too much? Read the September Market Commentary for a detailed overview of the situation.

Despite a hot economy, two months of strong numbers and the potential for re-acceleration in inflation Fed Chair Jay Powell chose to ignore the unruly data points during the March Fed meeting presser. All this jawboning kept rates subdued during March. Ten-year U.S. Treasury yields fell 5 basis points.

The economy is performing better than expected by most measures. Equities reflect this. However, they are starting to feel a bit stretched on valuation, driven by the promise of “AI”. Read the February Market Commentary for a detailed overview of the situation.

The significant November rebound in equities stands in stark contrast to the disappointing earnings season and 5% rates that drove October lows. Read the November Market Commentary for a detailed overview of the situation.