The Pallas Perspective

PCA Week in Review - Friday, October 21, 2022

This week in the Review:
Stagflation is here: Does sector positioning matter?• Stagflation periods have seen better relative performance by healthcare, energy and financials; and lower relative performance by industrials, information technology and materials• The consideration of sector exposure during periods of economic and interest rate inflection is a useful exercise

Planning Update - Friday, October 14, 2022

Pallas Capital Advisors COO & Director of Planning, James Landry, ChFC, is joined by Eric Lalime, Managing Director, to discuss various ways to understand and navigate the world of charitable giving. Donation topics include: cash, Appreciated Securities, Bunching, Privately held stock, Donor Advised Stocks (DAFs), Qualified Charitable Distributions (QCDs), Charitable Trusts, private foundations and gifting artwork.

PCA Week in Review - Friday, October 14, 2022

This week in the Review:
    PCA looks at the Inflation data for September hitting a 40-year high and the earnings season commencing on lowered expectations – which may be a sign of prospectively lower inflation and a bottoming process.
 
 

PCA Third Quarter Review: Friday, October 7th

This week in the Review:
Pallas Capital Advisors provides a Third Quarter Financial Markets Review and notes that the first days of October have started on a positive note.
 

Market Update: October 7th, 2022: Portfolio Positioning During Volatile Markets

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: September was the worst month for financial performance since the onset of Covid in March, 2020 and then the first days of October saw a sharp rebound.  What’s going on? How should portfolios be positioned?

PCA Week in Review - Friday, September 30, 2022

This week in the Review:
     1. September continues its tradition as a difficult month for markets on surging rate expectations. PCA outlines the impact of the implied Fed funds target rate; the Dot projection peak rate moving to 4.6% and Price to Earnings ratio (P/E) pulling back 25%.
     2. September financial market performance and sentiment fall from already low levels. PCA looks at the AAII index finishing the month increasingly bearish and the historical precedents with the S&P 500 index.
 

PCA Week in Review - Friday, September 23, 2022

This week in the Review:
Hawkish Fed Policy Weighs on Financial Markets
Impact of the Federal Open Market Committee (FOMC) raising the funds rate target range
Tightening financial conditions
Dollar continues to appreciate against foreign currency
     2. As Recession Concerns Grow, Investors Can Look to History          for Earnings Trends
Recession: different impact on different sectors
 

PCA Week in Review - Friday, September 16, 2022

This week in the Review:
Disappointing CPI Report Raises Fed Funds Rate Expectations and Sets Back Market Sentiment
Higher Cash Yields A Silver Lining in Choppy Market
Thinking Ahead...
 
 

PCA Week in Review - Friday, September 9, 2022

This week in the Review:
Fed Funds Rate Expectations Rise into Year End but Could Reflect a Peak
Jackson Hole commentary
Fuel Prices
Labor and Housing continue to pressure CPI
     2. Investor Sentiment Returns to Levels Near Record Lows
AAII Sentiment Survey
Historically low readings
 

Market Update: September 8th, 2022 Stock and Bond Markets, Rising Interest Rates, and Inflation

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:
- Stock and bond markets retreating over the past month
- Hawkish Federal Reserve commentary
- Rising interest rates
- On-going inflation concerns driven by higher energy prices, particularly in Europe.