Global Asset Allocation Update: The Certainty of Uncertainty

By |2018-04-16T09:33:49+00:00April 13th, 2018|Alhambra Research, Bonds, Commodities, Currencies, Global Asset Allocation Update, Markets, Stocks|

There is no change to the risk budget this month. For the moderate risk investor, the allocation to bonds is 50%, risk assets 45% and cash 5%. Stocks continued their erratic ways since the last update with another test of the February lows that are holding - for now. While we believe growth expectations are moderating [...]

Will They Or Won’t They?

By |2015-09-07T16:36:49+00:00September 7th, 2015|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Investing, Markets, Stocks|

That's the question everyone is asking these days. Will the Fed go ahead and raise interest rates at their next meeting? Or is the economy still so soft they don't dare derail what recovery we've managed to attain? Was last week's employment report good enough to keep the Fed on track to do what they [...]

Digging In To The Mess of Fund Flows

By |2014-05-12T15:55:44+00:00May 12th, 2014|Federal Reserve/Monetary Policy, Markets, Stocks|

I normally don’t pay much attention to mutual fund flows as they don’t have nearly the explanatory power or relevance in what is surely a more complicated and topographically inconsistent “market.” Equity mutual funds are no longer the primary measurement tool of “small” investor demand. That does not mean, however, that unusual events cannot contain [...]