This morning’s GDP report noted contraction for the second quarter in a row. We can debate inventory builds and trade imbalances and the math underlying the calculation of real GDP, but the official number says negative real GDP growth for a 2nd quarter in a row and the textbook defines... read more →
Jul
19
It is hard to believe it has already been more than a year since Congress Wealth Management (“Congress”) acquired Pinnacle Advisor Solutions. We have been working diligently over the past year to ensure a seamless transition and integration of our team into Congress and to improve our offering to advisors.... read more →
Jul
15
There’s no sugarcoating it – it’s been a very rough week for all of the peak inflationists who’ve been arguing that the worst is behind us. First the Consumer Price Index (CPI) and then the Producer Price Index (PPI) came in well ahead of expectations and soared to new multi-decade... read more →
Jun
30
New WebsiteWhat does behind the curve look like? The Federal Reserve is about to tighten monetary policy, i.e., raise rates, while high yield spreads are above their historical mean. They have not done this at all going back to 2000 and have only done it twice since the 1970s (roughly... read more →
Jun
21
As the latest sign that the economy is slowing down, the once red-hot housing market is starting to sputter. Based on data released this morning, only 5.41 million existing homes were sold in the US in May, which is 3.4% lower than the prior month and 8.6% lower than the... read more →