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Cryptocurrency Portfolio

May 2021 Economic Update – “A Look Ahead”

//  by Tower Bridge Advisors

Market Outlook, Tower Bridge Advisors, Jim Vogt, Philadelphia Wealth & Asset Management, Economic Update, Inflation and Corporate Earnings Investment Markets, Cryptocurrency Portfolio

Interest rates, inflation and corporate earnings are key indicators of the health of the economy and the trajectory of the investment markets. In this video, Co-Chief Investment Officer Jim Vogt discusses the current state of the economy and the outlook for the months ahead.  

May 2021 Economic Update – “A Look Ahead”Read More

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  • June 16, 2021 – Everyone will be watching the conclusion of today’s FOMC meeting to see whether the Fed hints at any change in policy. What will likely be said is that the Fed will acknowledge inflationary pressures and spend time this summer to determine how much inflation is enduring. The market reaction will depend how that is said. Investors want the Fed to acknowledge some concern, but not too much. It’s a tricky path to navigate.
  • June 14, 2021 – The benign bond market, despite strong inflation numbers, signals that near-term pressures are transitory. But as the recovery progresses, other pressures, like higher wages and rents, may not be so transitory. The economic news over the past 5 months has been very bullish as the pandemic fades. The rest of the year will exhibit some growth deceleration. The path of the stock market will be dictated by the trends in inflation and interest rates.
  • June 11, 2021 – Robust inflation data, rising prices across the board, labor/commodity shortages and pent-up demand are all real inflationary worries. However, the 10-year Treasury is now down 30bps in just 2 months. Is the market wrong?
  • June 9, 2021 – Normally the bond market sends better messages than the stock market. With bond yields falling once again, the message is either that economic growth is going to decelerate faster than might be expected or central banks will continue to intervene for much longer than consensus expectations. 2% 10-year bond yields suddenly look far away.
  • June 7, 2021 – Stocks made solid gains on Friday led by the tech sector after a solid but slightly less than expected employment report.
  • June 04, 2021 – Markets took a breather this week in preparation for a critical update on employment due out this morning. Biden’s infrastructure plan is hitting some speed bumps. A change in his tax plan to pay for it brought more questions than answers. Something will get done eventually.
  • June 2, 2021 – All eyes will focus on Friday’s employment report. Too much growth will reignite inflation fears. Too low a number will suggest to some that the recovery is threatened. Demographics suggest full employment may return faster than previously expected. While the Fed says inflationary pressures are transient, a shortage of workers can only be fixed by accelerating wages. That would hardly be viewed as a transient situation.
  • May 28, 2021 – The last trading day of the month ends with similar questions from when it started. How strong is inflation today and how long will it last? Many commodities have declined substantially during the month but the service side is seeing another mismatch of supply and demand.
  • May 26, 2021 – Pandemics and technology accelerate change. Old companies fight to adapt, but bureaucracies, the need to defend the old profitable fortress, and age are not on their side. The current economic surge will extend some of their lives, but many will no longer flourish.
  • May 2021 Economic Update – “A Look Ahead”

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Conshohocken, PA 19428
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