Economic Update

Stock market bears might characterize 2012 as a year of living dangerously, a year in which Wall Street coped with major risks to the American and European economies. Stock market bulls might end up remembering 2012 for what didn’t happen: Greece had resisted a temptation to exit the euro, and it looked as if bipartisan…

Hurricane Sandy’s fury has exacted a considerable and tragic toll. Even with the relief efforts now underway, it will be some time before things return to normal in many communities. How has Sandy impacted Main Street, Wall Street and the broader economy? Repairing Main Street. How do you begin to total the damage from a…

October 2012 Investment Commentary The third quarter was a risk-on period with U.S. large-cap stocks gaining 6%, while core investment-grade bonds returned 1.5%. Going back to the stock market low on June 1, 2012, large-cap stocks are up 10.7% versus 1.6% for core bonds. European stocks also rose dramatically, up nearly 9% in the quarter…