Research & Insights
Our investment decisions flow from incisive perspectives.
Category: Market Commentary
April 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
April began with an air of collective uncertainty settling over the markets. However, that uncertainty had an oddly sedating effect as news which in the past would have elicited a reaction by investors (e.g. a US missile… Read Full Post
March 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
Markets began the year mostly range-bound as investors absorbed the dramatic gains of the prior months and turned their attention to the impending reality of a new US administration. News was dominated with more talk than action… Read Full Post
February 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
The market enthusiasm which pushed the Dow above the 20,000 level late last month continued unabated as investors seemed to focus more on potential upsides to policy rather than uncertainty and downside risks. While talk of deregulation… Read Full Post
January 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
Markets began the year mostly range-bound as investors absorbed the dramatic gains of the prior months and turned their attention to the impending reality of a new US administration. News was dominated with more talk than action… Read Full Post
December 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
As uncertainty built around the outcome of the US presidential election, investors appeared reluctant to take significant positions and the market drifted steadily downwards. Consumer spending showed some softening, and general economic data continued to be modest.… Read Full Post
November 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
After an especially divisive US presidential campaign, November 8 finally arrived and forecasters were once again proven wanting as Donald Trump shocked the establishment with his win. The initial market reaction was strongly negative as S&P futures… Read Full Post
October 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
As uncertainty built around the outcome of the US presidential election, investors appeared reluctant to take significant positions and the market drifted steadily downwards. Consumer spending showed some softening, and general economic data continued to be modest.… Read Full Post
September 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
While the last few days of June saw a large dose of Brexit-induced volatility, the market recovery was well on its way by the start of July as many of the consequences investors feared failed to materialize.… Read Full Post
August 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
August was a period of relative calm as competing macro considerations left investors wondering how to position portfolios. Volatility and trading volumes were unusually low, and there appeared to be few catalysts to drive either bullish or… Read Full Post
July 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
While the last few days of June saw a large dose of Brexit-induced volatility, the market recovery was well on its way by the start of July as many of the consequences investors feared failed to materialize.… Read Full Post
April 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
April began with an air of collective uncertainty settling over the markets. However, that uncertainty had an oddly sedating effect as news which in the past would have elicited a reaction by investors (e.g. a US missile… Read Full Post
March 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
Markets began the year mostly range-bound as investors absorbed the dramatic gains of the prior months and turned their attention to the impending reality of a new US administration. News was dominated with more talk than action… Read Full Post
February 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
The market enthusiasm which pushed the Dow above the 20,000 level late last month continued unabated as investors seemed to focus more on potential upsides to policy rather than uncertainty and downside risks. While talk of deregulation… Read Full Post
January 2017
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
Markets began the year mostly range-bound as investors absorbed the dramatic gains of the prior months and turned their attention to the impending reality of a new US administration. News was dominated with more talk than action… Read Full Post
December 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
As uncertainty built around the outcome of the US presidential election, investors appeared reluctant to take significant positions and the market drifted steadily downwards. Consumer spending showed some softening, and general economic data continued to be modest.… Read Full Post
November 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
After an especially divisive US presidential campaign, November 8 finally arrived and forecasters were once again proven wanting as Donald Trump shocked the establishment with his win. The initial market reaction was strongly negative as S&P futures… Read Full Post
October 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
As uncertainty built around the outcome of the US presidential election, investors appeared reluctant to take significant positions and the market drifted steadily downwards. Consumer spending showed some softening, and general economic data continued to be modest.… Read Full Post
September 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
While the last few days of June saw a large dose of Brexit-induced volatility, the market recovery was well on its way by the start of July as many of the consequences investors feared failed to materialize.… Read Full Post
August 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
August was a period of relative calm as competing macro considerations left investors wondering how to position portfolios. Volatility and trading volumes were unusually low, and there appeared to be few catalysts to drive either bullish or… Read Full Post
July 2016
Kai W. Hong, CFA
Managing Director & Chief Investment Strategist
While the last few days of June saw a large dose of Brexit-induced volatility, the market recovery was well on its way by the start of July as many of the consequences investors feared failed to materialize.… Read Full Post
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