Quarterly Commentary (2013)
First Quarter Commentary: "U.S. Jumpstarts Markets in First Quarter " - Q1 13
U.S. stocks are off to a great start following the news of a Fiscal Cliff deal, a slowly improving economy, and a determined Fed. Other global markets such as Germany, France and the U.K. are positive, but they lag behind the United States. Emerging markets disappointed as the BRIC countries, most notably China, have exhibited negative performance so far this year. While the first quarter brought celebration for stock investors, Emerson’s investment team points out that the market has now advanced for four and a half months without a meaningful pause, and we believe a pullback is overdue.
Quarterly Commentary 2012
Fourth Quarter Commentary: "Resilient Markets of 2012 Face New Challenges in 2013" - Q4 12
2012 was an outstanding year for global stocks and bonds. In the U.S., markets reacted positively to moderate growth in GDP, stable corporate profits, and improved balance sheets of consumers and businesses. International stocks rebounded from 2011 weakness and ended the year on a high note. The European central bank kept monetary policy easy and focused on stabilizing the banking system, while China appeared to engineer a soft landing, setting the stage for consumer-driven growth. Emerson’s investment team thinks markets can make headway in the upcoming year, but returns will be hard-fought because of headwinds to corporate profits and lingering macroeconomic issues. Click here to read more.
2012 Wealth Management Advice Series - Q4 12: Planning Your Financial Future - By Kathleen M. Sablone, J.D. Wealth Strategist; Themes Underlying a Stock Renaissance - By Paul A. Tryon, CFA, Director of Investments
Third Quarter Commentary: "Monetary Policy Sparks Markets" - Q3 12
Global stock markets advanced in the quarter mainly due to new monetary policy initiatives from the Federal Reserve and the European Central Bank. The fresh commitments from the world’s largest central banks sent markets to new highs for the year. However, economic growth remains challenged. The view of Emerson’s investment team is that markets are unlikely to maintain their current momentum without improvements in key areas of the economy, especially as corporate profit growth begins to slow. We have a cautious near term outlook. In the face of possible risks, our portfolios are strategically diversified across global markets with emphasis on dependable income. Click here to read more.
2012 Wealth Management Advice Series - Q3 12: Is Your Estate Plan Complete - By Kathleen Sablone, J.D., Director of Planning
Second Quarter Commentary: "And Now It’s Europe… Again" - Q2 12
Global equity markets retreated in the quarter reflecting slower progress toward a European debt solution, an uneven recovery in the U.S. and slower growth in Asia. Despite the correction, most asset classes remain in positive territory for the year. Our investment team maintains a constructive near-term outlook based primarily on strong corporate profits; however the future is always clouded by looming risks – including a large contraction of the U.S. federal budget known as the “fiscal cliff” which will begin in 2013 unless lawmakers take action. Click here to read more.
2012 Wealth Management Advice Series - Q2 12: Safeguard Your Electronic Information - By K.C. King, CFA, CIC, Managing Director
First Quarter Commentary: "2012: Markets Surge, Economy Expands" - Q1 12
2012 is off to a fine start. With strong economic news in the U.S. and a milder than expected recession in Europe, investors have embraced stocks for the first three months of the year. This year’s strength caps a remarkable 36 month recovery from the market bottom in early 2009. Currently our investment team has a positive near-term outlook for most asset classes; however, the future is always clouded by looming risks – including the uncertain outlook for taxes at year end. Click here to read more.
2012 Wealth Management Advice Series - Q1 12: Do You Know What Your Taxes Will Be in 2013? - By Kathleen Sablone, J.D., Wealth Strategist