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Top Decoration

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Perspectives from
Goelzer's team of experts

Bottom Decoration

October 9, 2024: Will the Small Fish Catch Up to the Big Whales?

2024 is set to mark the fourth consecutive year of small-cap stock returns lagging large-cap stock returns. But optimism has surfaced on the horizon. Analyst forecasts point to parity in

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October 2, 2024: How Restrictive Are Interest Rates?

Long awaited stimulative actions from the Chinese government captivated investor attention last week. Whether these actions deliver their intended jolt to China’s economy remains to be seen. Indisputable, however, was

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September 25, 2024: Another Atypical Rate-Cut Cycle

Periods in which the Federal Reserve lowers interest rates have typically been positive for equities. Moreover, defensive stocks, such as those found in the consumer-staples sector, have tended to outperform

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Where Have All the Public Companies Gone?

美国上市公司数量呈下降趋势,这是金融界经常讨论的话题.S. stock markets. Peaking back in the mid-1990s at

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September 18, 2024: The Descent Is the Hardest Part

This week the Federal Reserve will almost certainly join other major central banks in easing monetary policy. It has been a long time coming. The Federal Funds target rate reached

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September 11, 2024: An Unpleasant, Yet Ordinary, Week in the Stock Market

For investors in U.S. stocks, last week’s 4.2% decline, as measured by the S&P 500 Index, was unpleasant but certainly not unique. In fact, declines of that size occur regularly

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August 28, 2024: Rate Cuts Are Coming… But How Many?

Last Friday in Jackson Hole, 美联储主席鲍威尔明确表示,下个月将下调目标利率. This move will come after

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August 21, 2024: A Bad Dream, or More to Come?

The market’s recent days of volatility might feel today like the distant past. Last week, the S&P posted its strongest weekly performance since last November, pushing the index higher and

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August 14, 2024: Return to Normal: Negative Stock-Bond Correlations

We have seen a notable shift in stock-bond correlations this year as inflation declines. Historically, high inflation leads to positive correlations, meaning stocks and bonds move in the same direction,

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August 8, 2024: Volatility Awakens from Its Slumbers

This Monday’s trading day offered two historic market moves. The 12%, single-day drop in Japan’s Nikkei stock-market index was the largest decline in that index since 1987. Domestically, the so-called

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July 31, 2024: A Welcome Rally in Beleaguered Stocks

A rotation out of the crowded AI trade has benefited beleaguered small cap and value stocks. A historically narrow market, led by a handful of large tech companies, left many

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July 24, 2024: Stay Focused on Earnings

Last week’s economic releases delivered a mixed picture. On the one hand, 一份好于预期的零售销售报告表明,消费者支出继续扩张,但增速低于去年,

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July 17, 2024: The Economy Cools & Earnings Estimates Warm Up

The flurry of earnings reports is about to begin, 有正规的大网赌网站吗者本季面临的主要问题是,疲弱的宏观经济数据与乐观的数据之间的差距将如何调和, bottom-up

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Investment Implications of This Year’s Election

We are frequently asked about the upcoming U.S. election and how the results of that election might affect the economy and markets. What follows is a concise summary of certain

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July 10, 2024: Why Interest Rate Cuts Are Becoming More Likely

The Fourth of July holiday may have shortened last week’s trading schedule, 但假期并不能阻止有正规的大网赌网站吗者越来越关注降息的可能性

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June 26, 2024: How Nvidia Became “The Most Important Stock in the World”

Since the beginning of May, Nvidia’s stock has appreciated 42%. Such a two-month move in a stock is not in itself unusual. However, this level of stock appreciation is unusual

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June 19, 2024: Positive News on the Inflation Front

A few months ago, an unorthodox economic theory began to gather attention. Rather than constraining economic activity, could higher interest rates instead be stimulating it? The question seemed timely. Despite

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June 12, 2024: Understanding Inflation Measures

When interpreting this week’s CPI report, it is important to note that inflation measures are not created equal.   The Consumer Price Index (CPI) is based on a fixed basket

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June 5, 2024: The Fed Model: A Questionable Timing Tool

For much of the past 15 years, 低债券收益率帮助推高了股价,因为有正规的大网赌网站吗者在试图实现回报目标的过程中发现,除了股票几乎没有其他选择.

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May 22, 2024: Opportunities in Artificial Intelligence

With Memorial Day weekend and a quiet week of economic news ahead, the market is laser-focused on this week’s earnings report from NDIVIA, considered by many to be the bellwether

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May 15, 2024: Why Are Consumers Pessimistic?

密歇根大学上周发布的消费者信心报告重申,消费者对经济的看法越来越消极. These negative sentiments persist despite jobs growing at an average

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May 8, 2024: A Strong Start to the Year in Corporate Earnings

High interest rates, global conflict, problems in commercial real estate—despite these ongoing concerns, the U.S. corporate juggernaut carries forward. Through Monday, over 85% of companies in the S&P 500 Index

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May 1, 2024: Why Budget Deficits Matter

This week, investors will digest a litany of economic data, including updates on the U.S. job market and on manufacturing and service activity. These releases come amid a busy week

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Narrow Stock Market, Again

Last year, we published two quarterly Insights papers noting the narrow performance of the U.S. stock market, and for good reason. Over half of the S&P 500 Index’s 24.2% price

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MarketWatch, January 19, 2024

I want my son to inherit my $1.2 million house. Should I leave it to my second husband in my will? He promised to pass it on.   Director of

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Our Annual Look into the Future

For all but a few prognosticators, 2023 was a humbling one. As we mentioned in last quarter’s Insights, most economists entered 2023 predicting a recession. And stock market forecasters were

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Where’s My Recession?

In the mid-2000s, author Daniel H. Wilson published “Where’s My Jetpack?,” a book for frustrated futurists in search of techno wonders promised long ago. Somewhat like Wilson, investors have spent

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MarketWatch, August 14, 2023

Dear Tax Guy: I inherited a lake house, but want to give my share to my sister. How can we do this — and avoid paying taxes?   Director of

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Artificial Intelligence: Analysis from an Investment Perspective

During the first half of 2023, the S&P 500 Index returned 16.8% with nearly three-fourths of that performance coming from just ten companies.1 The dominating theme driving these lopsided returns

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The Narrow Stock Market: And the Trends That Got Us Here

Much has been written about the U.S. stock market’s narrow performance this year—and for good reason. At its most extreme, five months into the year, all of the S&P 500

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The Path to Normal

I am often asked, “When will things return to normal?” Despite their daily routines returning to normal, investors continue to feel the aftershocks of the Covid-19 pandemic in the economy

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Thoughts on the Fallout from Silicon Valley Bank

In recent days, state banking authorities and the FDIC have closed three banks: Silvergate, Signature Bank, and Silicon Valley Bank (SVB). Both Silvergate and Signature Bank held a niche in

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Improved Expectations

Investors have been through a volatile multi-year stretch. The combination of a worldwide pandemic and erratic monetary policy led to 20% or greater declines for U.S. stock prices in three

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MarketWatch, December 27, 2022

Dear Tax Guy: I bought a portable oxygen concentrator for a friend with terminal cancer. Could it be a charitable donation?   Senior Wealth Advisor Michelle Jann reviews some of

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MarketWatch, December 21, 2022

观点:慈善捐款的RMD计算:这是最省税的捐赠方式。高级财富顾问米歇尔·詹恩为《网赌正规平台网址》的读者回顾了合格慈善分配(qcd)的好处.

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TD Ameritrade Network, December 16, 2022

The Best Way to Construct a Portfolio in Today’s Market   Director of Portfolio Management Gavin Stephens, CFA, joined “Morning Trade Live” host Oliver Renick to talk about fixed income,

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When Good News Is Bad News

As this difficult year for investors moves ahead, a peculiar logic is taking hold over the markets: what is good is bad, and what is bad is good. In other

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The Bond Buyer, July 28, 2022

Munis follow UST rally post-weak GDP; fund inflows return   Director of Portfolio Management Gavin Stephens, CFA, tells The Bond Buyer that most of the damage to bonds is finished

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MarketWatch, July 26, 2022

在当前的滞胀状态下,如果有正规的大网赌网站吗者忽视“非同小可”的滞胀风险,市场将面临以下威胁, Director of Portfolio Management Gavin Stephens provided commentary to MarketWatch about how

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The Rising Value of Money

In our April 2021 edition of Insights, I wrote that inflation would become the new worry for investors. With the consumer price index above 8% the past three months, that

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The Wall Street Journal, June 22, 2022

美联储有正规的大网赌网站吗组合管理主管斯蒂芬斯(Gavin Stephens)对《网赌正规平台网址》(The Wall Street Journal)谈到了最近的市场走势和衰退指标.   To read

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Life’s Third Act Podcast, June 21, 2022

A discussion on markets and Goelzer’s expansion into St. Louis   Don Hutchinson and Brett Stehl discuss the economy and inflation, market strategies and Goelzer’s expansion into St. Louis with

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FIN-News, June 9, 2022

Investment Advisor Adds Institutional Consultant   FIN-News, which provides insights on the institutional asset management space, reported on our hiring of Brett Stehl as an institutional consultant as we grow

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CNN Business, May 16, 2022

股市可能会进一步下跌,有正规的大网赌网站吗组合管理总监加文·斯蒂芬斯(Gavin Stephens)在谈到美联储是否会坚持加息时被引述, despite the stock market

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Is a Fed Put in Play?

Will declining stock prices cause the Federal Reserve to alter its course?     May 2022   During the last hiking cycle—a slow, deliberate cycle that began in December 2015—investors

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The Bond Buyer, April 27, 2022

有正规的大网赌网站吗组合管理总监加文·斯蒂芬斯(Gavin Stephens)谈到了市政债券的时间敏感机会.   To read this article, please click

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On the Probability of Recession

April 2022   Prior to each of the past six U.S. economic recessions, the yield on 2-year U.S. Treasury notes has risen above the yield on 10-year U.S. Treasury bonds—a

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Reuters, April 22, 2022

Analysis: Some investors tiptoe back into Treasuries, 在美联储持鹰派立场的情况下,有正规的大网赌网站吗组合管理总监加文·斯蒂芬斯讨论了戈尔泽的债券策略.   To read

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The Bond Buyer, April 18, 2022

Munis hit on long end, 引用财政部有正规的大网赌网站吗组合管理主管加文·斯蒂芬斯对近期经济衰退可能性的评论.   To read this

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Sorting Through the Headwinds

April 2022   The new year has delivered a sharp jump in volatility across stock, bond, and commodities markets. Chart 1, for example, shows that daily price volatility for the

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War in Ukraine: Implications for the Economy and Markets

March 2022   Following Vladimir Putin’s decision to invade Ukraine, 我们就这场战争对全球经济和金融市场的潜在溢出效应回答了许多问题.

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MarketWatch, March 25, 2022

股市有正规的大网赌网站吗者应该关注收益率曲线的这一部分,从中寻找“预示未来麻烦的最佳领先指标”,有正规的大网赌网站吗组合管理总监斯蒂芬斯(Gavin Stephens)对威尔特穆斯(Joy Wiltermuth)说

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The Bond Buyer, March 24, 2022

Munis hit hard on short end, 有正规的大网赌网站吗组合管理总监加文·斯蒂芬斯对3米/10年期收益率曲线的评论被引用.   To read this article,

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Barron’s, March 23, 2022

The ‘Yield Curve’ Is Close to Inverting. 有正规的大网赌网站吗组合管理总监加文•斯蒂芬斯(Gavin Stephens)被引述解释有正规的大网赌网站吗者可能关注的原因

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Our Annual Look to the Future

January 2022 “Tomorrow belongs to those who can hear it coming.” —DAVID BOWIE   We have made it our practice to begin each year with an update of our 10-year

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ESG Investing: What, Why, and Considerations for Successful Implementation

November 2021   Growing interest surrounding ESG investing, which stands for Environmental, Social, and Governance, 要求网赌正规平台网址有正规的大网赌网站吗者意识到成功实施ESG的挑战和考虑因素

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Where Have the Vigilantes Gone?

October 2021 “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want

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When Volatility Matters

July 2021 Investing involves risks. One type of risk we all try to avoid is the permanent loss of money. But a more common risk faced by investors is temporary

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Inflation: The New Worry

April 2021 Investing is a never-ending struggle between worry and optimism. The past 14 months illustrated that better than any period in recent memory. Beginning with panicked selling set off

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Abnormal Economy, Abnormal Markets

October 2020 While still below January’s pre-pandemic level, the U.S. economy has made great progress since the lifting of lockdowns and restrictions. Yet today’s economy is far from normal and,

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The Recovery Begins

July 2020 We’ll start with good news: the recession that began in February has already ended. That is not to say that the economy is back to where it was

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Insights