• Stocks reach all-time highs on improving expectations

    Stocks are making new all-time highs due to earnings coming in better-than-expected, lower economic policy uncertainty on reduced trade tensions, strong labor market data, and improving global manufacturing indicators.

  • A day for reflection

    Driven by increased hope that at least the initial phase of a trade agreement was on the near-term horizon, the equity market last week posted a string of new highs for the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite.

  • Are state and local governments prepared for economic downturn?

    The initial read on US GDP growth for the recently ended 3rd quarter was a 1.9% growth pace, only the third quarter with sub-2% growth rate since the end of 2015.

  • Economic Data, Limits of Monetization, and Equities Enter Profitable Period

    Investment Perspectives provides insight into the markets from three of Janney's elite strategists.

  • Long-term capital market assumptions - A low return world

    This paper establishes our rationale for low returns for most major asset classes in the coming years.

  • Stocks make new highs on a healthy jobs report and improving manufacturing

    Stocks reached all-time highs last week, driven higher by better-than-expected earnings news and positive economic data.

  • New highs at last

    Although it was not the only driving force for stocks last week, the expected 25-basis-point cut in the Fed fund target range coincided with the S&P 500 topping technical resistance at 3025 on its way to setting multiple new highs.

  • The seas of corporate bonds and triple c's

    While the majority of fixed income asset classes offer lower average yields this year than last year, the US triple C corporates space remains an outlier.

  • Bank & Thrift Newsletter November 4, 2019

    1. Daily Fix, 2. Bank, Thrift & MHC Summary Valuation, 3. Recent Bank M&A Transactions, 4. Relevant Janney Capital Markets Professionals

  • Mission accomplished?

    The Federal Reserve Open Market Committee today reduced their target for overnight interest rates by a third 25bps to a range of 1.50% to 1.75%, completing the Greenspan-esque “three insurance cuts” cycle.

  • Finally

    After more than three months and multiple attempts, the S&P 500 Monday morning finally set a new intraday all-time high on word that technical consultations on a trade agreement text are "basically completed," which suggested phase-one of a trade agreement might be signed at the Asia-Pacific Economic Cooperation (APEC) summit in Chile next month.

  • Reduced geopolitical tensions and positive earnings bode well for the market

    The S&P 500 stock index is at an all-time high and is being supported by reduced geopolitical tensions and good earnings news.

  • Climate change and potential impact on state and local government credit analysis

    Climate considerations can have an impact on the credit quality of municipal bond issuers, analyst Alan Schankel explains.

  • Bank & Thrift Newsletter October 21, 2019

    1. Daily Fix, 2. Bank, Thrift & MHC Summary Valuation, 3. Recent Bank M&A Transactions, 4. Relevant Janney Capital Markets Professionals

  • Can you bank on it?

    Optimism about trade negotiations with China faded somewhat last week, but a draft of a deal with the European Union offered hope that after more than three years, the Brexit saga might end.

  • A positive start to earnings season bode well for the market

    Stocks are close to all-time highs and are being supported by positive earnings news and reduced geopolitical risks.

  • Preferreds and interest rate uncertainty

    Just over a year ago, the bond market began to sell off on various fears that caused heightened perceived credit risk.

  • A trade war truce bodes well for global economy but significant work remains

    Stocks reacted favorably to the results from the latest Chinese trade talks.

  • Pennsylvania school district intercept program

    Like many states, Pennsylvania has programs that add a layer of bondholder security for local school district bond issuers.

  • Let’s make a deal - maybe

    Driven by increased hopes for a trade truce with China, headlines suggesting a Brexit deal might be coming and a positive report on consumer sentiment, all the major indices here and in Europe ended notably higher on Friday.

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