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View From The Edge – May 2021


May 14, 2021
By DeFred Folts III, Managing Partner, Chief Investment Strategist, and Eric Biegeleisen, CFA, Managing Director, Research Portfolio Manager
Equities:
U.S. Equities: Major U.S. equity market indices continue to reach all-time highs as well as record levels of overvaluation by our measure. However, even at elevated valuations, monetary and fiscal stimulus remains supportive. In addition, high-yield credit spreads continue to tighten even further. Our research model is indicating that a potential regime shift in the global capital markets could be underway. This is supported by an increasing focus on fiscal (government) spending and an increase in readings of inflation in many areas of the economy. Should such a regime shift continue there could be an additional rotation out of U.S. large-cap, high growth equities that have outperformed over the last several years and towards more cyclical U.S. value companies that are more closely tied to the growth of t ....

Eric Biegeleisen , Research Portfolio , Edge Solutions Designed To Smooth The Ride , Exchange Traded Funds Etfs , Defred Folts , Managing Partner , Chief Investment Strategist , Managing Director , Market Equities , Exchange Traded Funds , View From , Term Fixed Income , ஆராய்ச்சி போர்ட்‌ஃபோலீயோ , நிர்வகித்தல் கூட்டாளர் , தலைமை முதலீடு மூலோபாயவாதி , நிர்வகித்தல் இயக்குனர் , சந்தை பங்குகள் , பரிமாற்றம் வர்த்தகம் செய்யப்பட்டது நிதி , பார்வை இருந்து , கால சரி செய்யப்பட்டது வருமானம் ,

View From The Edge – April 2021


April 14, 2021
By DeFred Folts III, Managing Partner, Chief Investment Strategist, and Eric Biegeleisen, CFA, Managing Director, Research Portfolio Manager
Equities:
U.S. Equities: Major U.S. equity market indices continue to reach all-time highs as well as record levels of overvaluation by our measure. However, even at elevated valuations, monetary and fiscal stimulus remains supportive. In addition, high-yield credit spreads remain narrow. A steepening global yield curve is also a positive development signaling higher growth prospects. U.S. equities also continue to benefit, at least in the short-term, from positive price momentum and favorable investor behavior which could be described as market euphoria. The extreme level of overvaluation of the U.S. equity markets continues to highlight their potential downside risk. ....

Eric Biegeleisen , Research Portfolio , Edge Solutions Designed To Smooth The Ride , Exchange Traded Funds Etfs , Defred Folts , Managing Partner , Chief Investment Strategist , Managing Director , Market Equities , Exchange Traded Funds , View From , Term Fixed Income , ஆராய்ச்சி போர்ட்‌ஃபோலீயோ , நிர்வகித்தல் கூட்டாளர் , தலைமை முதலீடு மூலோபாயவாதி , நிர்வகித்தல் இயக்குனர் , சந்தை பங்குகள் , பரிமாற்றம் வர்த்தகம் செய்யப்பட்டது நிதி , பார்வை இருந்து , கால சரி செய்யப்பட்டது வருமானம் ,