July 29, 2016—Our Investment Committee (IC) decided this week to close the underweight to emerging markets (EM) equities we had initially adopted in 2013. Our clients have benefited from this underweight, as EM equities had generally underperformed broad international and global stock market indices.
July 26, 2016—As a follow-up to Friday’s blog post, Oil and the Dollar and the Chicken and the Egg, we wanted to provide an update regarding the underlying supply/demand fundamentals within the oil market that shape our bullish view on the prospects for the commodity.Despite the recent decline in oil prices, we think the groundwork has been laid for a multi-year recovery.
July 22, 2016—Even the most casual observer could look at a chart of the U.S. Dollar (USD) and oil prices and quickly recognize that they appear to move in opposite directions fairly consistently. That inverse relationship is widely recognized yet little understood. Additionally, the strong relationship is a relatively recent phenomenon, becoming strong only after the year 2000.