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Will Falling Unemployment Finally Lead to a Pickup in Wages?

By David O'Malley | July 31, 2017

Last week saw strong corporate earnings and continued growth in the U.S. economy. U.S. GDP for the second quarter was 2.6% according to the Bureau of Economic Analysis’ advanced estimate. The strength in the economy was driven by robust business investments for the quarter. Further, the failure of the Republican plan to repeal and/or replace the Affordable Care Act drove headlines last week.

Investors Watching for Clues in the Federal Reserve Meeting and Second Quarter GDP This Week

By David O'Malley | July 24, 2017

Last week, markets traded mainly range bound as economic data and corporate earnings met expectations. In the week ahead, market participants will be closely watching for any clues from the Federal Open Market Committee (FOMC) statement on Wednesday. The Federal Reserve is widely expected to keep interest rates unchanged, but the meeting could provide important information on future policy.

S&P 500 Fails to Break 2400 – For Now

By David O'Malley | May 15, 2017

The S&P 500 failed to break the 2400 level last week but did set an all-time closing high of 2399.63 on Wednesday, May 10. The market continues to drive higher, led by technology stocks and decent first quarter earnings. I expect stocks to continue to grind higher for the next several weeks.

Stocks Rally on French Election

By David O'Malley | April 24, 2017

The results of the first round of French elections sent stocks around the world higher in early trading on Sunday. Emmanuel Macron and Marine Le Pen will advance to the… Read More

Economic Data Will Drive the Markets in the Week Ahead

By David O'Malley | January 23, 2017

The inauguration stole the headlines last week, and I expect it will be no different in the week ahead. With the anticipated repeal of The Affordable Care Act, cabinet appointments and the planned meetings with world leaders, including U.K., Canada and Mexico, the activities in Washington will continue to keep the media’s attention. Amid this, I believe market participants will start to turn their attention back to the economy and earnings, both of which will be prominent in the week ahead.

Peak Globalization and the Rise of Political Populism

By Zhiwei Ren | December 22, 2016

This week’s chart shows the history of global trades as a percentage of gross domestic product (GDP). In the last few years, global trade has stagnated. Now, with political populism gaining ground in major countries, it is likely globalization has peaked at this cycle, which will effect asset pricing and the broader economy.

Market Activity to Slow This Week

By David O'Malley | December 19, 2016

Market activity is expected to slow during the final trading days of 2016.

Will the Natural Gas Price Recovery be Sustained?

By Greg Zappin | October 27, 2016

Oil, copper, steel, gold and other industrial and precious metals tend to garner most of the attention in the credit markets when talking about the commodity complex. Rightly so, as they serve as proxies for global gross domestic product (GDP) growth, flight to quality/risk sentiment and Chinese demand.

Goldilocks Visits the Oil Patch

By Greg Zappin | June 2, 2016

Not too hot, not too cold. That’s been the state of the domestic economy for the better part of seven years. Every time we think the party is about to end, the central banks have managed to maintain order and reestablish equilibrium.

Fed Reduces Expectations for Rate Increases

By David O'Malley | March 21, 2016

As anticipated, the Federal Reserve (Fed) reduced expectations for future interest rate increases at its meeting last week. Risk markets rallied on the news. The Fed’s dovish change in tone puts the market in an interesting dilemma.



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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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