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4Q17 CIO Commentary

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4Q17 CIO Commentary

In this quarter's CIO commentary, we discuss tax cuts, international equity outperformance, the flattening yield curve, full employment, and the disappearance of the economic output gap.

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3Q17 CIO Commentary

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3Q17 CIO Commentary

In this quarter's CIO commentary, we talk about picking a new Federal Reserve chairperson, the hurricane season, and take a deep dive into the implications of the Republican's tax framework document.

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2Q17 CIO Commentary

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2Q17 CIO Commentary

In this quarter's CIO commentary, we review the Republican's progress on enacting their ambitious agenda of tax cuts, deregulation, and accelerated infrastructure spending, the positive events coming out of Europe, and what we can expect out of US, emerging market, and Singaporean equities.

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You Are the Company You Keep

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You Are the Company You Keep

President Donald Trump is expected to announce any hour (or day) now, whether or not he will pull the United States out of the Paris climate agreement. While the world anxiously waited for his decision today, there were two loud statements encouraging Trump keep the US commitment to the agreement.

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4Q15 CIO Commentary

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4Q15 CIO Commentary

After a sharp contraction in the third quarter, developed equity markets rebounded strongly in the final quarter of 2015. U.S. equity markets led most regions in the fourth quarter, despite selling off more mildly in the previous quarter. Emerging market equities followed up its dreadful 18% third quarter decline with lackluster performance in the fourth quarter. Aggressive government stimulus and minor currency depreciation ameliorated concerns of a hard landing in the Chinese economy, driving the Shanghai Composite Index up 16% during the quarter. Fixed income sold off modestly.