The Pallas Perspective

This week in the Review:
Earnings Season and Forward Guidance Surpassing Low Expectations
74% of the S&P 500 have reported Q2 earnings
Earnings have surprised to the upside
Winners and Losers 
     2. Financial Markets Remain Reasonably Valued by Morningstar
Morningstar price to fair value
Headwinds of slower growth expectations and inflation could shift and turn to tailwinds.  

This week in the Review:
1. Federal Reserve Tightens as Expected
The Fed hikes federal funds by 0.75%
Impact on bond markets
Dovish comments met positively by market in short term
2. US GDP Confirms Slower Growth
Why GDP decreased less in the second quarter than the first
Impact of the IMF World Economic Outlook Report

This week in the Review:
1. Investor Sentiment at Trough Levels
Latest Bank of America Fund Manager Survey results.
Impact on stock and cash allocations
2. Mounting Energy Concerns Further Headwind for Europe
Nord Stream and natural gas in the EU

Pallas Capital Advisors CEO & Founding Partner, Richard Mullen, is joined by Chief Investment Officer, Mark Bogar, CFA, CAIA, and Senior Portfolio Manager, Stephen Kylander, to discuss:
· What has been the driver of inflation?           - Ukraine war impact on oil and food· What has benefited from inflation?· What has been impacted the most?           - Concerns about recession including consumer cyclical, industrial and financial services· Where do we stand now?

Pallas Capital Advisors COO & Director of Planning, James Landry, ChFC, is joined by Director of Planning & Client Development, Shannon Smith, CFP, AWMA, to discuss:
A Roth IRA versus a traditional IRA
Conversion and Contribution of IRAs
What is the Five Year Rule?
The tax impact of removing money from a Roth or traditional IRA
Roth IRAs and 401ks
IRAs for Philanthropy and Legacy
"Back Door Contributions" - pluses and minuses

Pallas Capital Advisors CEO & Founding Partner, Richard Mullen, is joined by Chief Investment Officer, Mark Bogar, CFA, CAIA, and Senior Portfolio Manager, Stephen Kylander, to discuss:
· The impact the Russia-Ukraine war has had on global GDP, commodities, and supply chains
· The Fed and what it means to move from quantitative easing and low interest rates to quantitative tightening and  higher rates
· Inflation running rampant and how Pallas Capital Advisors hedges this risk
· China update
Learn more at pallascapitaladvisors.com.

Pallas Capital Advisors CEO & Founding Partner, Richard Mullen, is joined by Chief Investment Officer, Mark Bogar, CFA, CAIA, and Senior Portfolio Manager, Stephen Kylander, to discuss:· The Fed and what it means to move from quantitative easing and low interest rates to quantitative tightening and higher rates· Inflation running rampant and how Pallas Capital Advisors hedges this risk· Factors driving the equity markets· The impact the Russia-Ukraine war has had on global GDP, commodities, and supply chainsLearn more at pallascapitaladvisors.com.

At the end of last month, the Biden administration released its General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals (the 2023 Greenbook). The Greenbook includes nearly 50 proposals totaling 114 pages and represent the first comprehensive tax revenue-raising proposal from the administration since Build Back Better failed to advance in Congress late last year. In this episode of The Pallas Perspective, James Landry and Charlie Evangelakos discuss these proposals and how they could impact millions of taxpayers if enacted into law. For more information visit: https://pallascapitaladvisors.com/insights/its-greenbook-time/

Richard Mullen and Mark Bogar are joined by special guest Chris Miller, an assistant professor of international history at Tufts University and co-director of the school’s Russia and Eurasia Program. Chris, a frequent commentator on CBS, CNBC, Bloomberg, and the New York Times, provides insight into the Ukrainian invasion.

Mark Bogar sits down with Richard Mullen and Stephen Kylander to discuss the Russia-Ukraine conflict and its implications on the market.