Author Archives: Dr. Brian Jacobsen, CFA, CFP®

European Central Bank to headline at Oktoberfest?

The European Central Bank’s (ECB) first tender of its targeted long-term refinancing operation (TLTRO) was a bit below forecast. In June, the ECB announced that it was going to provide cheap funding to banks that expand lending to the non-housing … Continue reading

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The Wall Drug of Fed meetings

Thanks to a great marketing campaign, with billboards that say, “500 miles to Wall Drug,” a small mall in South Dakota is a major tourist attraction. It’s fun to go there, but I don’t know if it’s worth the drive, … Continue reading

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China: How’s that rebalancing working out?

Waves were made with the release of the August industrial production and retail sales numbers out of China. Year over year, industrial production increased 6.9% and retail sales increased 11.9%. Those seem like great numbers, and they really are. The … Continue reading

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Retail sales: Still room to grow

Retail and food services sales increased a relatively healthy 0.6% in August. Compared with August 2013, retail sales increased 5.0%. The biggest increases were in the automotive and health care store sales, increasing 9.5% and 8.1%, respectively. Online retail continues … Continue reading

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Mid-cap stocks hiding in plain sight (excerpt)

Despite a history of better returns compared with small- and large-cap stocks, mid-cap stocks are often overlooked. That could mean missed opportunity for investors, explains Bryant VanCronkhite, CFA, CPA, portfolio manager at Wells Capital Management, in this excerpt of On … Continue reading

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Employment growth: Not as strong as we thought

Nonfarm payrolls increased 142,000 in August, according to the Labor Department, while the unemployment rate—the product of a separate survey—ticked down from 6.2% to 6.1%. Numbers for June and July were revised to a net decrease of 28,000 from the … Continue reading

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Municipal bonds and liquidity coverage ratios

The Federal Reserve (Fed), the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency all voted to approve the liquidity coverage ratio (LCR) rule. The LCR requires banks to hold enough high-quality liquid assets (HQLA) to … Continue reading

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The European Central Bank sweetens the pot

The European Central Bank (ECB) cut its main refinancing rate (its version of the U.S.’s federal funds rate) 10 basis points (bps; 100 bps equals 1.00%) to 0.05%. It also cut its interest rate on the deposit facility (its version … Continue reading

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Mid-cap stocks hiding in plain sight (video)

Investors who overlook mid-cap stocks in their portfolios could be missing significant opportunity. Here to explain is Bryant VanCronkhite, CFA®, CPA, portfolio manager with the Wells Capital Management Special Global Equity team.

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The Fed and the ECB: Things are the same in the U.S., different in Europe

While many investors focus on the Consumer Price Index as a gauge of inflation, the Federal Reserve (Fed) prefers the personal consumption expenditures (PCE) index, and the PCE index has once again stayed below the Fed’s 2.0% target. PCE decreased … Continue reading

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