Federal Reserve Maintains Current Accommodative Policies

By Tom Burnett CFA On July 28, 2021, the Federal Reserve released in public statement following a two-day July meeting. The Fed remains committed to a policy of low rates and material asset purchases until the U.S. economy recovers to its pre-Covid-19 levels. The Statement noted that employment is recovering…

By Tom Burnett CFA The trading activity in the bond market today (July 27, 2021) is decidedly one way—towards lower interest rates. The 30-year Treasury bond is currently trading at a yield of 1.89%, down from a March high of 2.45%. During the height of the Covid-19 outbreak, before vaccinations, in…

By Tom Burnett CFA Commodity prices, as measured by the Bloomberg Commodity Index, have risen by 21.3% in 2021 (through July 21, Wall Street Journal). Most of the price pressures derive from the recovery in the energy sector which was badly mauled by the Covid-19 outbreak and the economic slowdown in…

Kelleher Financial Advisors 2nd Quarter 2021 Newsletter

By Tom Burnett CFA Looking at the price and performance data from the July 14, 2021, pages of the Wall Street Journal and Morningstar, we see the evident improvement in the relative performance of the ‘Value’ stocks compared to the overall market and to the ‘Growth’ universe. We use the Vanguard…