September 2025
Market commentators remain puzzled by several aspects of this year’s economy. First, tariffs have not contributed to broad-based inflation. Price increases for some products have
October 1, 2025
Market commentators remain puzzled by several aspects of this year’s economy. First, tariffs have not contributed to broad-based inflation. Price increases for some products have
The S&P 500 achieved a record high during the Second Quarter despite general investor angst regarding the economic impact of tariffs. In terms of major
The S&P 500 continued its post-election rally until peaking mid-February as trade and policy uncertainties began to weigh on investor sentiment. Through the end of
In 2024, we disagreed with consensus forecasts regarding Fed policy, interest rates, inflation, and the bond market outlook. For example, we felt Wall Street strategists
The Fed initiated a series of aggressive rate hikes in 2022, from near zero to eventually terminating at 5.50% in 2023. In September, the Federal
Cash generally does not provide higher returns than fixed income securities, but for an extended period, that has been the case. In fact, money market
Market pre-occupation with Fed policy persisted through the First Quarter. One CNBC commentator claimed Fed policy debates consume ten of fourteen hours of daily airtime.
Happy New Year! Please save the date: Thursday, February 22, 2024 for Patten & Patten’s 15th Annual Investment Symposium at the Westin Downtown Chattanooga.
Reversal was the theme of the Third Quarter. Through the first half of the year, stock market gains reflected an extreme narrowness last seen during
In the Second Quarter, stock market momentum accelerated as the NASDAQ Composite Index posted double-digit returns. The NASDAQ’s year-to-date returns are reminiscent of the late