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Confirmation of the Deterioration in Consumer Confidence September 25, 2019

By Steven Vannelli, CFA in Economy

In our mid-quarter update, we highlighted the plunge in the University of Michigan’s consumer confidence indicator, suggesting that “good feelings” among consumers were starting to fade. Often surveys offer a leading glimpse into economic activity. A more confident consumer is more likely to make those…

Spotlight Mowi: Spawning a Knowledge Revolution in the Ocean September 16, 2019

By Knowledge Leaders Team in Knowledge Leaders

In our work studying Knowledge Leaders, there’s a common thread: highly innovative companies often exist at the intersection of global trends that demand intensive R&D efforts to solve complex problems the world has never faced before. Coincidence? We don’t think so. The global population is…

Is the Bond Rally Over or is This a Correction in a Downtrend in Treasury Yields? September 13, 2019

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

With interest rates on the 10-year US treasury bond having moved nearly 50bps higher over the last 10 days it is certainly worth asking the question if we’ve seen the low in interest rates or whether this is more of a correction in an ongoing…

A Deep Dive into Consumer Confidence September 04, 2019

By Steven Vannelli, CFA in Economy

In this mid-quarter special report, we do a deep dive into the University of Michigan survey and discern what it may mean for the vigor of the consumer moving forward, prospects for a recession and consequences for asset allocation. Download the slides here: A Deep…

The Calculus for Fed Inaction is Getting Tougher by the Day August 22, 2019

By Bryce Coward, CFA in Markets, Portfolio Management

Over the last few days investors have been given a good amount of information to digest from incoming economic data, Federal Reserve meeting minutes, and Fed speakers opining about monetary policy at the annual Jackson Hole conference. Even still, everyone is waiting on THE speech…

With Friends Like These it’s No Wonder Bonds Continue to Rally August 15, 2019

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

How in the heck can the 30 year Treasury bond yield be trading at just 1.97%, an all-time low, when just 10 months ago it was up at 3.46% and “breaking out” to the upside? We were supposed to have a bond-pocalypse, after all, with…

BAA Spreads say the Drop in Yields and the Chinese Yuan is Very Different From 2015-2016 August 08, 2019

By Bryce Coward, CFA in Uncategorized

Arguably the two most significant macroeconomic events taking place in markets currently are the drop in US Treasury yields to near historic lows and the breakdown of Chinese yuan below the “line in the sand” 7.0 level. Oddly enough, a similar thing happened back in…

German Banks: Cutting Off Nose to Spite Face August 07, 2019

By Steven Vannelli, CFA in Economy

Today Germany’s second largest bank, Commerzbank, reported a fourth straight quarter of falling revenue and projected lower profit for the year, suggesting clients have been impacted by trade tensions. Chief Executive Officer Martin Zielke describes the situation: “Despite all the successes we have made, challenges…

3 Reasons Why More Tariffs are Bullish for Government Bonds August 01, 2019

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

Today’s news of 10% tariffs on a the remaining $300bn of imports from China took markets by storm with US stocks moving from a 1% gain to almost a 1% loss on the day. Meanwhile, gold closed at a 6-year high of $1445. But the…

The Debt Ceiling Impasse Has Meant Mini QE Since May – Will Mean QT When Resolved July 18, 2019

By Bryce Coward, CFA in Economy, Markets

When the US government gets near its statutory debt limit, congress must lift the debt limit in order for the Treasury to continue to issue debt to pay for government expenses. Simple enough. However, even after the debt limit is reached, the Treasury can use…

Disclosures

The information presented here is for informational purposes only, and is not to be construed as an offer to sell, or the solicitation of an offer to buy, securities. Some investments are not suitable for all investors, and there can be no assurance that any investment strategy will be successful. Hyperlinks may be included in this message that provide direct access to other internet resources, including web sites. While we believe these links are to reliable sources, Knowledge Leaders Capital has no control over the accuracy or content of information contained on these sites. Although we make every effort to ensure such links are accurate, up to date and relevant, we have no control over pages maintained by external providers. The views expressed by these external providers on their own web pages or on external sites they link to are not necessarily those of Knowledge Leaders Capital.

The information listed on this blog is for example purposes only and should not be construed as the investment Advisor’s opinion or investment outlook. As of the most recent quarter end, the named companies may have been held by the investment Advisor. For full information including additional policies and full disclosures on the Advisor, please visit our website KnowledgeLeadersCapital.com.

An investor cannot invest directly in an index. Any reference to Index performance does not represent the performance of any investment product offered by Knowledge Leaders Capital, LLC. The performance of client account may vary from the Index performance. Index returns shown are not reflective of actual investor performance nor do they reflect fees and expenses applicable to investing. The Index data is the property of Knowledge Leaders Capital, LLC, which has contracted with SolactiveAG to calculate and maintain the indexes.

The launch date of the Knowledge Leaders Knowledge Leaders Developed World Index (Bloomberg ticker KNLGX is 7/1/14 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders Emerging Markets Index (Bloomberg ticker KNLGEX) is 9/2/14 and the base date of the index calculation is 4/1/2005. The launch date of the Knowledge Leaders International Index (Bloomberg ticker KNLGINX) is 8/15/16 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders United States Index (Bloomberg ticker KNLGUSX) is 8/15/16 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders Developed World ADR Index (Bloomberg ticker KNLGAX) is 9/13/16 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders International ADR Index (Bloomberg ticker KNLGINAX) is 8/30/16 and the base date of the index calculation is 3/31/2000.

The returns of the Index prior to the launch date are based on applying the rules in effect as of the launch date retroactively to historical periods to and including the base date. Results are not based on an Index that was maintained in real time. The pre-inception performance results of the Index are hypothetical returns which have been compiled by Knowledge Leaders Capital. The performance results are based upon a hypothetical model. Hypothetical performance results may have inherent limitations, some of which are described below. No representation is being made that any account did or was likely to achieve profits or losses similar to those shown. One of the limitations of hypothetical performance results is that they are prepared with the benefit of hindsight. There are numerous other factors related to the markets in general or to the implementation of any specific trading strategy which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. These returns should not be considered as indicative of the skills of the investment adviser.To obtain additional index methodology and constituent components, please visit KnowledgeLeadersCapital.com.

Companies are selected for “Spotlights” based on high levels of innovation activities in their industries and illustrate innovation being employed across all sectors and geographies. Spotlight selection is separate from stock selection by the investment team. Spotlights are not necessarily representative of investment opportunities and can be selected regardless of investment performance.

Blog

Confirmation of the Deterioration in Consumer Confidence September 25, 2019

Spotlight Mowi: Spawning a Knowledge Revolution in the Ocean September 16, 2019

Is the Bond Rally Over or is This a Correction in a Downtrend in Treasury Yields? September 13, 2019

A Deep Dive into Consumer Confidence September 04, 2019

The Calculus for Fed Inaction is Getting Tougher by the Day August 22, 2019

With Friends Like These it’s No Wonder Bonds Continue to Rally August 15, 2019

BAA Spreads say the Drop in Yields and the Chinese Yuan is Very Different From 2015-2016 August 08, 2019

German Banks: Cutting Off Nose to Spite Face August 07, 2019

3 Reasons Why More Tariffs are Bullish for Government Bonds August 01, 2019

The Debt Ceiling Impasse Has Meant Mini QE Since May – Will Mean QT When Resolved July 18, 2019

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