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Quarterly Commentaries

Growth and the Dollar: The Beat Goes On – Q4 2014

Slow-to-moderate growth and a strong-dollar environment will likely persist in 2015. In the U.S., sectors of the market like Consumer Discretionary and Health Care look well positioned. Commodity-based sectors in the U.S. and overseas economies should face economic headwinds.

Growth Differential – Q3 2014

The U.S. economy continues to grow at a steady pace even as growth abroad looks less certain. The divergence in growth among major economies will continue to impact the currency markets and, in turn, drive Sector and overall stock market returns.

A Slow Start – Q2 2014

Disappointing economic growth in the first half of the year is likely to carry over to the second half. Weaker than consensus growth and higher interest rates pose risks to fixed income and certain areas of equity markets.

More Questions Than Answers – Q1 2014

Weather played a role in the softer data, but other signs of slow growth were prevalent too.
The information contained within each report was current at the time the report was created and may change over time.