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The Market and Economic Impact of the Trump Administration

By David O'Malley | January 17, 2017

This week has several key market-moving events, including the European Central Bank (ECB) meeting, potentially impactful dialog coming out of the World Economic Forum in Davos and key economic data in the both the U.S. and around the globe. However, the swearing in of the new administration on Friday and the changes that will be made in Washington trumps all of them (pun intended).

Market Breadth Deteriorating, Inflation Pressure Building

By Zhiwei Ren | October 20, 2016

A New York Times article about how Walmart is getting better results by paying employees more recently caught my attention. Walmart has 1.4 million employees in U.S., and this strategy change will have ripple effects on labor market. In the past few months, we have seen several signs that some long-term trends are changing

Stay Defensive on Asset Valuations Due to Uncertainty

By David O'Malley | October 17, 2016

Both stocks and bonds lost ground last week as significant uncertainty remains ever present in market dialog. The week ahead holds more potentially negative headlines for asset prices.

3-month LIBOR Increases

By David O'Malley | August 15, 2016

Since June 24, the U.S. 3-month LIBOR has increased from 0.62% to 0.82%. The last time LIBOR increased this much was right before the Federal Reserve (Fed) increased interest rates in November/December of last year. So, is the Fed going to increase rates in September, or is something else going on?

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.

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.

Brexit Surprise

By David O'Malley | June 27, 2016

I had an interesting perspective this past week on the reaction to the Brexit vote as I was in Scotland with some of Penn Mutual Life’s top advisors. The Brexit vote to leave the European Union (EU) clearly caught the markets off guard.

What the Brexit Vote Means to U.S. Investors

By John Swarr | June 23, 2016

The European Union (EU) referendum vote tonight has created a series of unknowns for investors. The first unknown is whether or not the U.K. remains in the EU. Should the U.K. vote to leave the EU, investors will face a second set of unknowns.

Waiting for the Brexit Vote

By David O'Malley | June 20, 2016

After last week’s Federal Open Market Committee (FOMC) meeting, in which the Fed lowered its longer-term expectation for interest rates, we now await the upcoming vote in the U.K. on Brexit.

Weak Employment Number Makes a June Fed Rate Increase Unlikely

By David O'Malley | June 6, 2016

The May employment number caught market participants off guard last week, and the odds for a June rate hike look very slim.

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.


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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