News

A backdrop of robust global economic data, strong Q1 earnings reports, and a retreat (albeit uneven) of the CoVid pandemic produced broad based strength across the financial markets in April. After lagging January through March, growth stocks benefited from a break in the rising interest rate dynamic of the first quarter. Commodities and international equities both benefited from a weaker USD and an improving global growth outlook due to stabilizing CoVid trends and a continuation of global fiscal/monetary stimulus. From a ...

For the month of March

The month of March put a nice bow on a very friendly quarter for stocks, commodities, and the USD – leaving the S&P 500 and DJIA at fresh record highs. It also put an exclamation mark on a very dark quarter for bonds as interest rates continued their ascent leaving a mark on broader fixed income markets. Market drivers for the month included significant fiscal stimulus with passage of the $1.9t American Recovery Act, strong momentum ...

For the month of February 2021

February came in with a reflationary bang (11 straight days of gains) on the basis of a growing CoVid-19 retreat and encouraging economic outlook but left with a whimper (8 of 9 days of losses) as concerns mounted that the economic recovery combined with aggressive global fiscal and monetary policies may translate to higher inflationary conditions. Overall, constructive forces of big stimulus talks, vaccine progress, economic recovery, and strong corporate earnings pushed global equities and, ...

Global equity markets continued their ascent in the first few weeks of the year, looking past a low-grade insurrection attempt, single party control of DC (D-sweep), a big miss on the December jobs report, and some rich stock market valuations, instead focusing on widespread vaccination efforts, improving corporate earnings, and a continuation of the stimulus charged economic recovery. That view didn’t hold through to month-end however as trading gave way to profit taking on relatively strong earnings reports and a ...

One of our favorite Christmas traditions is taking part in STAR 102.5’s Christmas Wish. This holiday season we’re honored to grant two Christmas wishes, on behalf of Silvercap and our clients.

This year has been challenging for everyone, yet many families have been faced with additional tragedy and obstacles that made an already difficult year worse.

Please take a moment to listen to the clips below from Star 102.5 granting this year’s Christmas wishes.

We are very grateful for our clients’ long-term ...

A choppy early November gave us the worst pre-election week performance on record but was followed post-election by the strongest week since April positive sentiment prevailed for most of the month. Relative clarity on the election outcome and corresponding policy outcomes propelled markets to the best November for the S&P 500 since 950 and the first time since 1982 we’ve had two double digit months in one calendar year. Strong COVID-19 vaccine trial results and continued economic recovery momentum overwhelmed a resurgence ...

FOR THE MONTH OF SEPTEMBER

September had its strongest ‘opening day’ since 2010, then remembered which month it was (it has been the worst month historically for markets). With the help of a continuous fiscal policy loop, emerging fall CoVid trends, and ample political fodder, the S&P 500 dipped its toe into correction territory on an intraday basis and the NASDAQ made its way there in record time (3 days) – off an all-time high no less. U.S. stocks erased a ...

For the month of August

Global stocks rose for a fifth consecutive month in August, led by the S&P 500 +7.2% return (more like what you’d expect in a full calendar year), ranking as the 5th best August on record since 1930 and culminating the best five month stretch for the S&P 500 since August 1938. International stocks (+5.1%), U.S. small caps (+5.5%), and emerging markets (+2.2%) produced very nice results as well. The S&P hit new record highs and did so ...

The stock market shrugged off fiscal inaction in DC, concerning COVID trends in early July, huge second quarter earnings declines, and cratered economic activity to post substantial gains.  Always a forward discounting mechanism, equity markets instead focused on eventual fiscal compromise in DC, improving COVID trends and vaccine news, a V-shaped recovery across several economic indicators, and very encouraging earnings guidance from corporations.  Interest rates fell uniformly across the curve leaving the 10yr and 2yr UST yielding a paltry 0.55% ...