Tax reform

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Inflation Data this Week to Remain Subdued 

By David O'Malley | November 13, 2017

Tuesday’s release of the Producers Price Index (PPI) and Wednesday’s release of the Consumer Price Index (CPI) will be the economic data highlights this week. With inflation remaining stubbornly low despite strong employment conditions and the odds of a December interest rate increase running around 80%, the importance of the pace of inflation data takes on greater significance.

And the Next Fed Chair is?

By David O'Malley | October 23, 2017

Stocks rallied and bond yields rose last week on optimism for the Republicans to successfully pass tax reform and on strength in third quarter corporate earnings. These two factors will probably continue to move markets in the coming week.

Hurricane Recovery and Economic Impact

By David O'Malley | September 11, 2017

The one-two punch of Hurricanes Harvey and Irma has impacted so many in Texas, Florida and throughout the Southern part of the U.S. We keep all of those impacted in our thoughts and wish them a speedy recovery.
Markets will be looking at how these two storms will impact the economy both in the near term and farther down the line. In the short term, the potential is for the storms to put downward pressure on economic performance and distort statistics (like the rise in unemployment claims last week), but the rebuilding process will be a boost to the economy.

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.

Tax Reform, the Fed and April Employment Data Remain in Focus for the Markets

By David O'Malley | May 1, 2017

Last week we saw the straw outline for the Trump administration’s tax reform proposal. The initial proposal is light on details and will likely be the opening bid in negotiations. It is too early to tell if bipartisan tax reform can be accomplished or if the budget reconciliation process will be used to make temporary reforms.

The Odds of Trump Tax Reform are Tied to This Area of the Stock Market

By Penn Mutual Asset Management | April 12, 2017

Penn Mutual Asset Management CIO Mark Heppenstall contributed an article to The Hill where he outlines how the “Trump Trifecta” of taxes, regulation and infrastructure stand to impact markets. Despite the recent failure of Trump’s healthcare reform plan, Mark notes the stock market continues to look past headlines and toward the president’s pro-growth policies. He expects the financial sector will be best positioned to benefit from the new administration’s economic agenda.

PMAM CIO Mark Heppenstall on Where to Find Value in Q2 with Fox Business

By Penn Mutual Asset Management | April 4, 2017

On Friday, PMAM’s Chief Investment Officer Mark Heppenstall appeared on Fox Business “Countdown to the Closing Bell with Liz Claman” to discuss the market’s resiliency throughout the first quarter despite setbacks, such as the failure to repeal the Affordable Care Act. He also shared his outlook for the second quarter, noting the financial sector stands to benefit from the “Trump Trifecta” of taxes, regulation and infrastructure, as well as rising interest rates.

Tax Exempt Municipals: Buckle Up for Volatility in 2017

By James Faunce | January 12, 2017

The tax exempt municipal market is poised to confront many challenges in 2017. The market will need to adjust to a new environment in terms of policy, governance, rates and volatility. The November 2016 election results have highlighted the real possibility of change and the tax exempt municipal market reacted with heightened volatility in the weeks following the election.



Disclosure Statement

The material provided here is for informational use only. The views expressed are those of the author, and do not necessarily reflect the views of Penn Mutual Asset Management.

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This material is for informational use only. The views expressed are those of the author, 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.

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.

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