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Expect Market Volatility in December

By David O'Malley | November 30, 2015

The one interesting piece of economic data last week was the November consumer confidence index, which fell from 99.1 in October to 90.4 in November. This sharp decline marks the lowest reading in 14 months and is surprising.

High Yield Index Masks Significant Credit Dispersion

By Greg Zappin | November 26, 2015

The high yield market is tracking toward a low, single-digit negative total return for the year. This would only be the fifth time in the last 30 years that the high yield market has posted negative total returns.

Stocks Rally on Fed and Economy

By David O'Malley | November 23, 2015

The economic data for the week continued to be solid as unemployment claims fell to 271,000. This data reinforced the market’s view that the U.S. employment conditions continue to improve.

Is It Time to Turn Bearish?

By Zhiwei Ren | November 19, 2015

Even though the Russell 3000 Index is relatively flat year-to-date in 2015, the majority of the companies comprising the Index have deteriorated, just like in 1999. From a technical analysis point of view, this is a sign of weakness.

Stocks Decline with Commodities on Weak Earnings and Fed Fears

By David O'Malley | November 16, 2015

After closing in on the highs for the year, stocks sold off last week as declining commodity prices and weak earnings weighed on sentiment.

Hedge Funds Feeling the Pain from Crowded Trades

By Mark Heppenstall | November 12, 2015

After another recent period of disappointing performance, hedge fund investors may be well served to heed a popular Yogi-ism: “Nobody goes there anymore, it’s too crowded.”

Strong October Employment Number Signals Fed Rate Increase in December

By David O'Malley | November 9, 2015

I have written in the past that increasing wages would be a key indicator for the Fed to start increasing rates. The 0.4% increase in average hourly earnings this past month resulted in the highest year-over-year increase in the past twelve months.

Is Technology Entering a Bubble?

By Trevor M. Williams | November 5, 2015

According to venture capital data aggregator CB Insights, there are currently 143 “unicorns” (private companies valued at $1 billion or above) worldwide, with a combined value of $509 billion. Eighty… Read More

“More Sellers than Buyers?”

By David O'Malley | November 2, 2015

Market action this past week has been primarily driven by the reaction to the Federal Reserve’s (Fed) more hawkish statement last Wednesday and the softer economic data released.



Disclosure Statement

This blog post is for informational use only. The views expressed are those of the author, Dave O’Malley, and do not necessarily reflect the views of Penn Mutual Asset Management. This material is not intended to be relied upon as a forecast, research or investment advice, and it is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy.

Any statements about financial and company performance of The Penn Mutual Life Insurance Company or its insurance subsidiaries (each, “Client”) made by the author is provided with a written consent from the Client.  Penn Mutual Asset Management is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.

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Opinions and statements of financial market trends that are based on current market conditions constitute judgment of the author and are subject to change without notice.  The information and opinions contained in this material are derived from sources deemed to be reliable but should not be assumed to be accurate or complete.  Statements that reflect projections or expectations of future financial or economic performance of the markets may be considered forward-looking statements.  Actual results may differ significantly.  Any forecasts contained in this material are based on various estimates and assumptions, and there can be no assurance that such estimates or assumptions will prove accurate.

Investing involves risk, including possible loss of principal.  Past performance is no guarantee of future results.  All information referenced in preparation of this material has been obtained from sources believed to be reliable, but accuracy and completeness are not guaranteed. There is no representation or warranty as to the accuracy of the information and Penn Mutual Asset Management shall have no liability for decisions based upon such information.

High-Yield bonds are subject to greater fluctuations in value and risk of loss of income and principal. Investing in higher yielding, lower rated corporate bonds have a greater risk of price fluctuations and loss of principal and income than U.S. Treasury bonds and bills. Government securities offer a higher degree of safety and are guaranteed as to the timely payment of principal and interest if held to maturity.

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