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2015 3rd Quarter Fixed Income Comments
Alas, another quarter came and went without action by the Federal Reserve. Unfortunately, the Fed’s lack of movement was overshadowed by the mid-quarter devaluation of the Chinese yuan. The biggest event of the third quarter, the devaluation and subsequent market crash heightened fears of the already opaque Chinese economy. It became clear that the country’s…
2015 October Insight Report
SEPTEMBER 2015 IN REVIEW ECONOMY: U. S. DATA MODERATE BUT REMAIN EXPANSIONARY Economic reports received in September, which are largely based on economic activity in August, reflected steady overall U.S. economic activity and a healthy consumer, but with moderating strength in the labor market and greater weakness in the manufacturing sector, as a strong…
Investment Note – “Not The Time To Panic”
In recent days we have seen the broader equity markets decline swiftly in reaction to several events that have taken place. We remain firm that long-term fundamentals remain positive and these market disruptions are not systemic of a broader global failure…
2015 July Insight Report
STILL WAITING FOR SPRING SNAPBACK Economic Data Economic headlines in July were dominated by global risk hotspots (Greece, China) and falling commodity prices, but behind the headlines, U.S. economic data told a story of slow but steady economic improvement…
2015 2nd Quarter Fixed Income Comments
In the second quarter of 2015, the possibility of a June rate increase by the Federal Reserve came and went quietly, with markets unsurprised when rates remained the same. Speculation continues for the date of “liftoff” and there are plenty of arguments for and against rate increases. In the short term, it appears the Fed will raise rates 0.25%…
2015 2nd Quarter Equity Comments
The second quarter of 2015 brought with it the tenth consecutive quarterly gain for stocks; unfortunately that gain was only 0.3%. After positive economic news helped drive gains throughout much of the quarter, stocks surrendered nearly all of those gains in June when concerns about Greece, China, and Puerto Rico all contributed to a 1.9% drop in the S&P…
2015 June Insight Report
MORE SIGNS OF A SPRING ECONOMIC REBOUND Economic Data Stronger and more consistent signs of an economic rebound from first quarter weakness were the main themes in June’s data releases (which largely reflect economic activity in May). An upward revision to Q1 2015’s gross domestic product (GDP) growth, from -0.7% to -0.2%, also shed a somewhat more positive light on the prior quarter…
2015 May Insight Report
STILL WAITING FOR SPRING SNAPBACK Economic Data May 2015’s economic reports (which largely reflect economic activity in April 2015) extended the recent theme of a slower than expected snapback from the first quarter economic weakness, which was due largely to temporary factors (unusually harsh winter weather in areas of the country, a major West…
2015 Spring Summer Newsletter
Meet Our Investment Team One of the core values of The Trust Company of Virginia is what we call “The Art of Partnership.” Focused exclusively on wealth management and guided solely by our one-on-one client centered approach, one of our major strengths is the close relationship we maintain with each client…
2015 1st Quarter Fixed Income Comments
The Federal Reserve removed the word “patient” from their forward guidance, effectively making the timing of the first Federal Funds rate change in the last 5 years completely data dependent. Yes, the last time the Federal Funds rate has moved at all was in February of 2010. However, Chairwoman Janet Yellen told us…