What is the Culprit(s) for Recent Equity Weakness? August 19, 2021

By Steven Vannelli, CFA in Markets

Just when everyone thought we had COVID-19 whipped, the delta variant came along and US cases inflected higher. The 7-day moving average was about 13,000 in early July and has jumped about 10-fold to 132,000 as of yesterday. The first place this can be seen…

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Breakdown July 23, 2021

By Steven Vannelli, CFA in Economy, Knowledge Leaders, Markets

We believe the technology sector is broadly breaking down. ​​​​​That’s the bad news. The good news is that the correlation between pure growth stocks and pure value stocks has plunged. This means that growth only explains about 5% of the movement in value stocks right…

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Is the Re-Opening/Value Trade Over? July 07, 2021

By Steven Vannelli, CFA in Markets, Portfolio Management

Interest rates have been falling in recent months leading some to speculate that the “re-opening” trade has run its course. This in turn begs the question as to whether the “value” trade is over. On both accounts, we see signals that still point to an…

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