Latest Stories

The Challenges Facing Public Pensions

By James Faunce | July 28, 2016

U.S. public pensions continue to experience subdued growth as demonstrated in this week’s chart. The U.S. Census Bureau’s recent release for the 100 largest-public employee pension systems shows the market value essentially flat.

Federal Reserve Keeps Rates Steady

By Mark Heppenstall | July 27, 2016

As anticipated, the Federal Open Market Committee (FOMC) kept the federal funds rate steady today with a target range of ¼ to ½ percent.

FOMC Expected to Keep Rates Unchanged

By David O'Malley | July 25, 2016

This week’s Federal Open Market Committee (FOMC) meeting will provide insight into the policy committee’s thinking about the post-Brexit economy.

PMAM Hosts a Distinguished Panel Discussion on The State of State Pensions

By Penn Mutual Asset Management | July 21, 2016

With next week’s Democratic National Convention serving as a backdrop, Penn Mutual Asset Management will be hosting a ground-breaking event on The State of State Pensions, to be held Tuesday, July 26, 2016, at 12 noon at the Hamilton Garden in the Kimmel Center.

Record High Equity, Record Low Yield

By Zhiwei Ren | July 21, 2016

U.S. equities are trading at record highs, while interest rates are close to record lows. This week’s chart shows the long bull market in bonds over the last 40 years, as well as the rare combination of record high equity with record low interest rates we are currently observing.

U.S. Economic Data Supports the Market

By David O'Malley | July 18, 2016

Despite all of the political, geo-political and social tumult in the news recently, U.S. economic data has remained surprisingly robust. Stronger economic data has been one of the components in the recent rally in U.S. equities.

Inflation Expectations at Record Lows, Despite Global Central Bank Stimulus

By Mark Heppenstall | July 14, 2016

Since the end of the credit crisis, central bankers across the globe have been trying their best to stimulate economic growth and avoid the type of deflationary spiral Japan has been battling for over twenty years.

Strong Employment Number and Rates Decrease

By David O'Malley | July 11, 2016

On Friday we received the much anticipated June jobs data, which was stronger than even the most optimistic forecasts.

Is There Alpha in Private Assets?

By Trevor M. Williams | July 7, 2016

While the market volatility-buffering benefits of private equity are well known, advocates of the investment vehicle have also long argued that private equity-backed companies tend to perform better than their publicly-traded counterparts.

Central Banks to the Rescue Again

By David O'Malley | July 5, 2016

Last week started with risk markets around the globe continuing the plunge that began with the Brexit vote. However, as central banks around the globe indicated they stood ready to combat any negative impacts from Brexit, risk markets rallied and ended the week higher.



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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