Investment Blog

Gold Leaf Capital Management

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To Moderate and Counterbalance

The S&P 500 eked out a +1.1% gain for the 3Q; the nine month return is now +8.3%.  For the 3Q, healthcare was up +5.0%.  Energy retreated -9.1% on an oil glut fueled by a weakening China and even weaker … Read more…

It Depends On Your Definition of “Considerable”

Yesterday, the Fed restated its pledge to keep interest rates low for a “considerable” period of time.  Today, the market is indicating that the considerable period of time may be less than initially anticipated.  Interest rate sensitive securities (e.g., electric … Read more…

What’s Happened to Interest Rates?

What’s happened to interest rates?  Despite positive economic news that would normally nudge rates higher, today’s 10 Year Treasury is trading to yield 2.39%, down from 3.03% at year end.  Three reasons emerge:  A) Inflation is trending at or below … Read more…

The Market Never Ceases To Amaze

The market never ceases to amaze in its ability to shrug off bad news.  In the 2nd Q, the S&P 500 added a +5.2% gain on to the 1st Q’s +1.8% return.  This gain was despite the fact that 1st … Read more…

Fed cuts US growth forecast but market soars

After a two-day policy meeting, the Fed slashed its forecast for U.S. economic growth to a range of between 2.1% and 2.3% from an earlier forecast of around 2.9% (a significant haircut) but expressed confidence the recovery was largely on … Read more…