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Q3 2021 In Review
These three months were eventful; the U.S. stock market experienced periods of price movements ranging from +5% to -5%, while longer-term interest rates fluctuated more than in recent history. Financial markets absorbed new economic data and moved swiftly to adjust to new expectations.
COLA Adjustment 2022
The cost-of-living adjustment for social security benefits for 2022 is 5.9%, the largest increase since 1982 when it rose to 7.4%.
October is Cyber Security Awareness Month
October is Cyber Security Awareness Month. In this week's Market Perspective, Jason and Suzy discuss common financial cyber-crimes and straightforward steps to fortify your online accounts.
Signal Change. The 10-Year Treasury.
Interest rates and bond prices often have an inverse relationship. For example, when interest rates rise, bond prices can fall. When the Fed recently signaled it might reduce bond-buying, financial markets began repositioning asset prices.
Uncertainty is the Default Position
Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit. In other news, the Chinese real estate developer Evergrande faces a liquidity crisis.
Seven Months of Gains, And then.
"Should I stay or should I go now?" Would the 80s punk band The Clash have gotten it right? Seven consecutive months of gains in the S&P 500 is uncommon. So we parse the data back to the 1920s and discuss precedent.
Job Openings vs Level of Unemployment
U.S. job openings now exceed the number of unemployed workers. While some disruptions brought on by the pandemic will get resolved in the short term, longer-term trends like shifting demographics and a skills gap may be more persistent.