The Long View

Monday Morning O’Malley

A weekly take on the economy and the market, from Dave O’Malley, Chairman & Chief Executive Officer of Penn Mutual Asset Management.

Latest Stories

Stay Focused on the Fundamentals

By David O'Malley | April 16, 2018

The last few weeks, a significant amount of headline news distracted market participants’ attention from the fundamentals. Whether it is the tumult in Washington, the geopolitical tensions in the Middle… Read More

News Headlines Create Market Volatility

By David O'Malley | April 9, 2018

Markets were volatile last week as trade tensions and geopolitical risks kept the markets’ attention. Last week’s employment data was a bit weaker than I expected, with smaller job gains… Read More

Markets Look for Momentum after a Volatile Q1

By David O'Malley | April 2, 2018

Equity markets had a volatile quarter, and their weakest in the last six, driven by concerns about rising interest rates, potential trade conflicts and valuation concerns. As I have written… Read More

Equity Markets Look to Rebound after a Tough Week

By David O'Malley | March 26, 2018

Global equities came under significant pressure last week as a result of fears about an escalating trade war. The S&P 500 had its worst week in several years and wiped… Read More

Fed Meeting Takes Center Stage

By David O'Malley | March 19, 2018

This week’s Federal Reserve (Fed) meeting, the first for new Chairman Jerome Powell, will be closely scrutinized. The market is pricing in very high odds of a 25 basis point… Read More

Treasury Auctions and Inflation Data

By David O'Malley | March 12, 2018

The bond markets could be on the receiving end of a negative one-two punch this week. The bond market is very vulnerable in the short term with all the recent… Read More

Strong U.S. Employment and the Potential Impact of Tariffs

By David O'Malley | March 5, 2018

Markets will experience a tug of war between the impacts of threatened tariffs and strong employment data in the week ahead. The potential for a trade war as a result… Read More

Longer Term View on U.S. Interest Rates

By David O'Malley | February 26, 2018

Given my bearish near-term view on U.S. Treasury bonds, I have recently been asked several times, where do interest rates go over the longer term? Over the next several years,… Read More

Fed Minutes, Warren Buffett’s Annual Letter Top the Week’s News

By David O'Malley | February 20, 2018

After a few volatile weeks for the markets, I expect a return to a more normal rhythm over the weeks ahead. The factors impacting both stocks and bonds are firmly in… Read More

What Lies Ahead After a Volatile Week for Stocks

By David O'Malley | February 12, 2018

Several technical factors caused significant volatility in the equity markets last week. In addition to an unwinding of low volatility positions, the equity market struggled with the implication of higher… Read More



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.

All trademarks are the property of their respective owners. This material may not be reproduced in whole or in part in any form, or referred to in any other publication, without express written permission.

Copyright © 2015 Penn Mutual. All Rights Reserved. All trademarks are the property of their respective owners.

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