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Market Commentary

2020-09-18
Week In Review 9/18/2020

Snowflake debuted in the largest software IPO in history. The cloud data warehousing firm has the backing of Salesforce and Berkshire Hathaway. The shares more than doubled on their first day to end with a market capitalization of $70 billion...

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2020-09-11
Week In Review 9/11/2020

Six of the biggest technology stocks lost more than $1 trillion in a three-day selloff. Apple, Microsoft, Amazon, Alphabet, Facebook, and Tesla lost more than $1 trillion from their peaks this week. NASDAQ dropped 10% in three days for the fastest correction in history...

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2020-09-03
Technology Drives Equity Indices Higher Again

Driven by technology stocks, global equity markets extended the rally in August with the S&P 500 +7.2%, NASDAQ +9.7%, EAFE +4.9% and Emerging Markets +2.1%...

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2020-08-27
Week In Review 8/28/2020

The Federal Reserve unanimously approved a new target inflation strategy. Chairman Jerome Powell noted the Fed will seek to achieve average inflation of 2% over time and aim for above 2% if inflation is persistently below target...

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2020-08-21
Week In Review 8/21/2020

US retail sales in July were up 1.2% from June to $529 billion. This brings overall sales back to pre-pandemic levels where February 2020 was $527 billion...

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2020-08-14
Week In Review 8/14/2020

Joe Biden picked Kamala Harris, the California senator, as his Vice-Presidential running mate. Harris has been a front runner for the ticket, and markets appeared to have a muted reaction to the final decision...

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2020-08-01
The Market Recovery Continues with Earnings Better Than Feared

Global equity markets continued to rally in July with the S&P 500 +5.6%, NASDAQ +6.0%, EAFE +2.0%, and Emerging Markets +8.2%. Fixed income performance was also in positive territory with the Bloomberg Barclays US Aggregate up 1.5% and US High Yield rising 4.7%...

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2020-07-30
Week In Review 7/31/2020

With over 26% of companies having reported earnings, 81% of S&P 500 companies have reported a positive earnings-per-share (EPS) surprise, with 71% reporting a positive revenue surprise. Earnings have been 11.4% above estimates (above the five-year average), and sales are 3% above estimates (also above the 5-year average)...

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2020-07-24
Week In Review 7/24/2020

Investors saw better than expected early results from earnings season. According to FactSet, over 20% of the S&P 500 have reported earnings, and more than 76% have exceeded consensus earnings expectations, better than the 72% five-year average...

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2020-07-17
Quarterly Commentary Q2 2020

The second quarter of 2020 witnessed a V-shaped recovery for equity markets, while the Main Street economy demonstrated incremental signs of recovery from a deep trough. The country saw an accelerated amount of coronavirus cases in the sun belt states, as local economies attempted to balance business reopening’s with the citizens’ health...

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2020-07-10
Week In Review 7/10/2020

Coronavirus daily new cases have accelerated across the United States, led by Florida, Texas, and California. Hospitalizations and new deaths have increased but not at nearly the same pace as cases. Testing is up 3-4x’s since April, and probable cases (in addition to confirmed cases) are being included in the total count...

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2020-07-01
The Disconnect Between Wall Street and Main Street Widens

Global equity markets have rallied in June with the S&P 500 +1.8%, NASDAQ +6.0%, EAFE +2.1% and Emerging Markets +6.0%. Fixed income performance was also in positive territory with the Bloomberg Barclays US Aggregate up 0.6% and Global High Yield up 2.2%...

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2020-06-25
Week In Review 6/26/2020

US coronavirus daily new cases have inflected to the upside driven by states where economies have reopened. Texas, Florida, California and Arizona are all seeing increasing cases...

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2020-06-19
Week In Review 6/19/2020

Retail sales surprised to the upside this week, up 17.7% month over month. Economists expected a much lower number after a weak March and April...

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2020-06-12
Week In Review 6/12/2020

Federal Reserve Chairman, Jerome Powell, signaled this week that the Fed would keep interest rates low for as long as is needed to aid the economy...

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2020-06-10
The Disconnect Between the Stock Market and the Economy

The current market movement represents one of the strongest dichotomies that we’ve seen in recent history between economic indicators and investor sentiment. Despite record levels of unemployment where first-time claims topped 40 million over a ten-week period...

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2020-06-05
Week In Review 6/5/2020

U.S. stocks continued the weeks upward ascent, after Friday’s non-farm payroll reported a surprise increase in jobs creation of 2.5 million, where the unemployment rate fell to 13.3% from 14.7%...

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2020-05-29
Week In Review 5/29/2020

South Korea reported 79 new cases on Thursday, double the amount of new infections from the prior day. This represents the highest number of increased cases since April 5, when 81 was recorded...

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2020-05-22
Week In Review 5/22/2020

Walmart, the country’s largest retailer, said sales from stores and digital channels rose 10% in the latest quarter...

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2020-05-15
Week In Review 5/15/2020

Public pension plans returned a median of -13% in the first quarter of the year, according to Wilshire survey results released earlier in the week. This represents the worst quarterly returns for respondents over the past four decades...

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2020-05-08
Week In Review 5/8/2020

As numerous countries consider re-opening industrial production, several are looking towards Germany for guidance on how to do so. Many factories in Germany remained opened as local authorities offered that option during the pandemic...

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2020-05-07
The "New Normal"

The current pandemic has inflicted a terrible toll, but it has also engendered an outpouring of positive responses. We are fortunate to have few prior precedents of such magnitude...

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2020-05-01
Week In Review 5/1/2020

Gilead issued a news release indicating the results from the NIAID trial on its experimental drug, Remdesivir, helped patients recover more quickly than with placebo treatments...

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2020-04-24
Week In Review 4/24/2020

At the start of the week, the U.S. benchmark price for crude dropped below zero for the first time in history. The future contracts for May delivery of West Texas Intermediate tumbled to minus $37.63 a barrel...

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2020-04-17
Week In Review 4/17/2020

Markets have shifted up and down throughout the course of the week, closing on Thursday evening near where it began at the week’s outset...

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2020-04-10
Seeking Signs of Recovery

The global pandemic has engendered an unprecedented decline in markets, with the shift from record employment and economic growth to bear market levels in fewer than three weeks...

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2020-04-03
Week In Review 4/3/2020

According to the non-farms payroll, employers shed roughly 700,000 jobs in March, pushing the unemployment rate to 4.4% from 3.5%...

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2020-03-27
Week In Review 3/27/2020

The markets climbed for three consecutive days this week after a record monetary and fiscal policy was announced...

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2020-03-20
Week In Review 3/20/2020

Despite a highly volatile week within the markets, the silver lining is that equities closed the week higher than the week’s low...

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2020-03-13
Week In Review 3/13/2020

The greatest challenge that market participants face is engendering change when the trend is up... which is quickly superseded by the difficulty in holding steady when the trend is down...

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2020-03-01
Uncertainty and COVID-19

The stream of COVID-19 headlines continues with little end in sight. The ability of health officials and policy makers to model its spread and associated implications has been complicated by...

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2020-02-01
Big Debt Trends

A near-record bull market has prompted worry among investors about how and when this economic cycle may end. One of history’s most prolific investors in the space of macroeconomic forecasting, Ray Dalio, is a disciplined student of the markets...

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2020-01-01
2019 Year in Review

While it seems that almost all asset classes put smiles on investor faces, the path there was neither simple nor straightforward. In hindsight, the collaboration from global monetary policy makers (albeit not entirely in harmony), infused liquidity into economies during a period where geopolitical uncertainty seemed to rule most days...

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2019-12-01
Private Equity Opportunity

The search for alternative investment opportunities has become increasingly mainstream through the past decade. Once seen as the domain of institutional investors, alternatives that employ private capital has become a more common conversation in retail households. The interest is a natural outcome of investors seeking greater opportunities for returns that provide diversification to buffer against downturns. Thus, the unicorn search begins..

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2019-11-01
The Continued Rise Of ESG

Throughout the investment management industry, an increasingly important topic centers upon ESG, an acronym for Environmental, Social, and Governance impact of corporate policy. Managers of public and private organizations consider the effect of decisions upon broad stakeholders, above and beyond shareholders...

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2019-10-01
Looking Past The Headlines

The breadth of risk factors that we currently read in the headlines is daunting. However, when taken as a whole, several baseline indicators of market health point towards relative stability for the time being...

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2019-09-01
The Market Climbs Its Wall Of Worry

As investors return from their summer travels and re-assess their portfolios, they will find the equity valuation levels at odds with the discord in Washington and abroad. This is due to two powerful tailwinds at the back of the equity markets, the recent return of fed easing, and continued US consumer spending...

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Planning Commentary

2020-09-08
Long-Term Care: Planning for the Unimaginable

Long-term care (LTC) is an issue that touches almost every family at some point. And families may often find themselves ill-prepared for many of the realities and uncertainties that providing care for a loved one can bring...

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2020-08-11
Structuring and Funding a Business Buy-Sell Agreement

As a partner or co-owner (private shareholder) of a business, a substantial portion of your family’s net worth is undoubtedly tied to the value and success of your business. Most successful business owners, at some point, need to consider setting up a buy-sell agreement...

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2020-07-09
Rollover Decision Required by August 31, 2020!

On June 23rd, the IRS released Notice 2020-51, “Guidance on Waiver of 2020 Required Minimum Distributions” in which they permit anyone who took a distribution that, but for the CARES Act would have been a Required Minimum distribution (RMD), to rollover that amount until August 31, 2020...

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2020-04-02
Coronavirus Emergency Loans - Small Business Guide and Checklist

Here are the questions you may be asking about the 2020 CARES Act - and what you need to know...

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2020-04-01
The 2020 CARES Act

On the afternoon of Friday, March 27, 2020 President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a more than $2 trillion package which is aimed at providing financial relief for the economic downturn caused by the Coronavirus pandemic...

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2020-03-23
Financial Planning During The Market Downturn

When we published our commentary about the SECURE Act a couple months ago, we cautioned people against rushing to Roth conversions, since there was a risk of a severe market correction after incurring income tax on the converted amounts. Turns out, we were probably right...

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2020-02-20
SECURE Act (Part 3 of 3)

In the final part of our three part planning series, we review changes that impact employers who seek to provide valuable retirement benefits for employees...

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2020-02-12
SECURE Act (Part 2 of 3)

In part two of our three part planning series, we provide an overview of the benefits that individuals will receive as a result of the SECURE Act...

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2020-01-30
SECURE Act (Part 1 of 3)

The $1.4 trillion spending package enacted on December 20, 2019, included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which had overwhelmingly passed the House of Representatives in the spring of 2019, but then subsequently stalled in the Senate. The SECURE Act comes just 2 years after the 2017 Tax Cuts ad Jobs Act – and results in a paradigm shift for those individuals whose retirement accounts make up a significant part of their estate planning...

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2019-11-26
2019 Year End Tax Planning

As we approach the end of the year, the window of opportunity for many tax-saving moves begins to close. So, it's important to evaluate your tax situation now, while there's still time to affect your bottom line for the 2019 tax year.

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2019-09-18
Funding Charitable Objectives with Retirement Accounts

Clients with sizable retirement assets often look to those funds to help them accomplish their recurring or one-time charitable objectives.

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News and Announcements

2020-04-15
Pallas Capital Advisors And Wheels Up Announce Partnership In Collaboration With MEALS UP Initiative

Pallas Capital Advisors And Wheels Up Announce Partnership In Collaboration With MEALS UP Initiative

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2020-01-29
Pallas Capital Advisors Welcomes New Senior Vice President, Christopher Ayer, and Announces Launch of Portsmouth, NH Office

Pallas Capital Advisors Welcomes New Senior Vice President, Christopher Ayer, and Announces Launch of Portsmouth, NH Office

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