Covenant Weekly Market Synopsis as of September 1, 2017

September 5, 2017

Investors looked past the increasingly belligerent North Korean dictator’s latest provocation (launching missiles over Japan) and the awful human and economic damage wrought by Hurricane Harvey. The S&P 500 gained 1.4% and the tech-heavy NASDAQ Index jumped 2.7% (it’s best weekly performance since December 2016 and a new, all-time high). International equities notched gains as […]

Covenant Weekly Market Synopsis as of August 25, 2017

August 28, 2017

Hurricane Harvey only grazed San Antonio, but other areas of the state are dealing with massive flooding and the ancillary problems it creates. Our thoughts and prayers are with those impacted by Harvey and the first responders who are trying to help them.   Equity markets bobbed and weaved, but ended the week looking more […]

Covenant Weekly Market Synopsis as of August 18, 2017

August 21, 2017

It was an eventful week, but not a week of good events. From political strife at home to terrorist acts abroad, the media channels had a lot to talk about. Financial markets were impacted by these events and prices changed swiftly as investors reacted to rumors, facts and updates to the same rumors and facts. […]

Covenant Weekly Market Synopsis as of August 11, 2017

August 13, 2017

For all of the “fire and fury” rhetoric between Kim Jong-un, the leader of the Democratic People’s Republic of Korea* and President Trump, domestic equity markets fell all of 1.4% last week. Based on the breathless coverage by media pundits, you would have thought the market was in an unequivocal freefall. Perhaps, after nine years […]

Covenant Weekly Market Synopsis as of August 4, 2017

August 7, 2017

Good to be back. Although I took some time away from writing each week, I remained engaged with the markets and investors, both professionals and non-professionals. Truth be told, not much has changed in the last four weeks relative to perceptions of the markets, not that I expected it to. Four weeks is a blink […]

Covenant Weekly Market Synopsis as of June 30, 2017

July 3, 2017

Friday marked the end of Q2 and the first half of the year is now officially in the books. It was a strong start. At the midway point, global equities are up +11.8% and the S&P 500 gained +9.3%, with Q2 representing its seventh consecutive positive quarter. Emerging Market equities rallied +18.9%, while their less […]

Covenant Weekly Market Synopsis as of June 23, 2017

June 26, 2017

EQUITY VOL IS DEAD!!! I, of course, don’t believe this to be the case and, like most of you, recognize that this period of equity market quiescence will end.  Yet, admittedly, it sure feels like volatility is dead, especially recently. Over the last 20 years, the VIX Volatility Index has ended the day below 10 […]

Covenant Weekly Market Synopsis as of June 16, 2017

June 19, 2017

Continued weak economic data, including waning inflation and slower growth in housing, had little impact on the broader domestic equity indices last week. Although the Nasdaq (-0.9%) continued to nurse a hangover from the prior week’s “tech wreck”, the S&P 500 managed to move higher by 0.1% and the Dow Jones Industrial Average rose 0.5% […]

Covenant’s Weekly Market Synopsis as of June 9, 2017

June 12, 2017

Another week of potential market moving events (more terrorism in the UK, the British election and former FBI director Comey’s congressional testimony) had little impact on equities, which treaded water for much of the week. Yet, a routine research piece released Friday by Goldman Sachs evidently found the sensitive spot in investors’ psyche catalyzing a […]

Covenant Weekly Market Synopsis as of May 26, 2017

May 30, 2017

Equity markets remained resilient in a week of potentially negative market-moving headlines: a terrorist bombing in the UK, a downgrade of China’s credit rating, and a Federal Reserve announcement for plans to begin reducing its balance sheet later this year. Domestic stock indices such as the S&P 500 and Nasdaq ended the week at record […]