Avalon produces a variety of investment commentaries.
Our perspectives and quarterly commentary are issued throughout the year and cover a range of investment-related topics.
Fourth Quarter, 2015
2015 was a difficult year for equities. Global equity markets were down 1.88% in US dollars. A few markets like Japan (+9.92%) and the US NASDAQ (+7.1%) performed reasonably well. Emerging markets did poorly, down 14.87% with the notable exception of China.
Second Quarter, 2015
U.S. equities were little changed in the second quarter, with the S&P 500 Index and the Russell 2000 returning 0.3% and 0.4%, respectively. For the first half, the S&P 500 returned only 1.2%. Even with its recent meager performance, this index returned 120% for the five years ending June 30. Within the S&P, only 5 of the 10 sectors posted positive returns in the quarter.
First Quarter, 2015
Despite being down in both January (-3%) and March (-1.5%), the S&P 500 was slightly positive for the quarter as a result of a nearly 6% total return during February. After significant underperformance last year, small cap stocks did better than their large cap counterparts, with the Russell 2000 up 4.3%.
Second Quarter, 2014
US Equities continued to advance in the second quarter, with the S&P 500 returning 5.2% for the quarter and 7.1% for the first half. Energy was by far the best performing sector in the quarter, returning over 12%. Utilities and Technology stocks also performed well, while Financials and Consumer Discretionary stocks
Low-Balling Inflation Puts the Fed at Risk
September 28, 2017
TPP Is Dead. What Now?
January 25, 2017
The Possibilities of Trump's U.S.
December 9, 2016
Reversal Rates Are the Next Big Challenge for Central Banks
November 23, 2016
The Good Ole Days Aren't Coming Back
October 13, 2016
The Federal Reserve's Anti-Volcker Inflation Revolt
August 24, 2016
Why the Fed Needs to Raise its Inflation Target
August 18, 2016
Is the Rest of the World Ditching America to Trade with China?
August 3, 2016
Has the Federal Reserve Become Congress's Golden Goose?
July 20, 2016
The Fed Must Avoid the 'Credibility Trap'
June 21, 2016
Why the Fed Needs to Make a Policy Error
May 18, 2016
The Fed Faces Its 'Anti-Volcker Moment'
May 9, 2016
The Fed's Critical Global Mandate
April 29, 2016
Why the Federal Reserve Is All Talk
April 26, 2016
Is the Global Middle Class Really Here to Stay?
April 12, 2016
Quarterly and Monthly Notes
Third Quarterly, 2017
Second Quarterly, 2017
First Quarter, 2017
Fourth Quarter, 2016
Third Quarter, 2016
Second Quarter, 2016
News | Press
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