27 Jul 2021

2nd Quarter Charts 2021

Overseas Economic Data is Surprisingly Strong The U.S. economy has been very strong this year, but it looks like U.S. GDP peaked in the second quarter and will decelerate going into 2022. However, global GDP growth is likely to strengthen in the second half of the year, driven by accelerating growth outside the United States. […]

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14 Jul 2021

2nd Quarter Newsletter 2021

Market Recap Equities around the globe continued to surge in the second quarter. The U.S. and developed international markets led the way, with the U.S. stock market gaining 8.5% and developed international stocks rising 5.7%. Emerging-market stocks trailed in terms of progress on the COVID-19 front and in turn rose by a more modest 4.9%. […]

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14 Jul 2021

Quarter 2, 2021 | Outlook for the US Economy by Dr. Ray Perryman

By M. Ray Perryman, PhD, CEO and President Overview  Overview – June saw a strong acceleration in the pace of recovery in the job market. Total nonfarm payroll employment in the US rose by 850,000 according to the US Bureau of Labor Statistics, and more than 1.7 million jobs have been gained in the last […]

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01 Apr 2021

Quarter 1, 2021 | Outlook for the US Economy by Dr. Ray Perryman

By M. Ray Perryman, PhD, CEO and President Overview –In March, the US economy added 916,000 jobs, led by gains in leisure and hospitality, education, and construction. The unemployment rate fell to 6.0% and the number of unemployed persons dropped to 9.7 million. Overall, the economy is in a much better place than the lows […]

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31 Mar 2021

1st Quarter Newsletter 2021

Market Recap Global stocks continued to power upward this quarter from their pandemic bear market low on March 23, 2020. The U.S. stock market gained 6.3% and international stocks gained 4.5%. The U.S. stock market is now up an astonishing 80.6%, since the bottom and its best one-year trailing return since the 1930s. Clearly, it […]

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01 Jan 2021

Quarter 4, 2020 | Outlook for the US Economy by Dr. Ray Perryman

By M. Ray Perryman, PhD, CEO and President of The Perryman Group Overview – With COVID-19 vaccination programs ongoing and effective treatments better understood, a new normal should be possible at some point in 2021. There are myriad challenges, but the path is beginning to emerge. Employment – One key issue for 2021 is the […]

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31 Dec 2020

4th Quarter Newsletter 2020

Investment Commentary – In our first quarter 2020 letter back in April, which feels like an eternity ago, we recognized that we were living through an incredible period of history. The pandemic weighed heavily on us then, as it does today. But this quarter, we look back at what we’ve endured and lay out our […]

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01 Oct 2020

3rd Quarter Charts 2020

Asset Class Returns The S&P 500 is Highly Concentrated at the Top The outperformance of FANMAG stocks means concentration within the index has soared to record highs. The top 10 stocks in the S&P 500 make up a record 28% of the total market cap of the index. The top names in the index have […]

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30 Sep 2020

3rd Quarter Newsletter 2020

Investment Commentary – Despite some choppiness in September, equity investors were treated to solid gains during the third quarter. The broader stock market rose 8.9% in the quarter and has recovered most of its losses for the year. Developed international stocks gained 6.0% this quarter and emerging-market stocks returned 10.2%. Both groups still trail U.S. […]

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30 Jun 2020

2nd Quarter Newsletter 2020

Investment Commentary – For most of the second quarter, financial markets seemed to defy grim economic news, the continued spread of COVID-19, and worldwide protests against racial inequality. Global equities performed strongly for the quarter and rewarded investors who remained invested. From the March 23 low, the U.S. equity market soared 40%, recording its best […]

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