The global economy and markets navigated a rocky summer of accelerated Covid-19 infections despite widespread vaccinations in much of the developed world. The re-opening has been more modest than anticipated in the late spring, and predictions of a modern “Roaring Twenties” have at the least...

The successful vaccine rollout has enabled a gradual re-opening across the United States and other parts of the developed world. A combination of money growth, wealth effect, robust earnings and monetary and fiscal stimulus is a powerful cocktail for economic growth and strong markets. The...

The global economy had a massive shock in early 2020 when the Covid pandemic erupted and shutdowns ensued. Despite a big rebound, U.S. real GDP was still 3.4% below its peak as of the end of September. To put this economic hit in perspective, the...

To many observers the global economy seems stuck on pause as Covid-19 rolls its way through different geographies. Workers able to work remotely are doing so, while millions of “non-essential workers” have been laid off or furloughed. Layoff announcements peaked recently at levels slightly above...

The speed with which this particular market episode has unfolded is unprecedented. It took just four weeks for the broad market to fall between 35-40%, bottoming on March 23, 2020. The current rebound, thanks to a massive liquidity program from the Federal Reserve and unprecedented...

The last several weeks have seen an enormous amount of market volatility. Not just the stock market – this volatility has affected every financial market in the world, from stocks to bonds to commodities and so forth. The S&P 500 peaked on a closing basis...

Lyell Wealth Management invests substantial resources in proprietary research which helps us decipher real economic and market data apart from the sensationalist financial media. We periodically publish a Snapshots issue that compiles charts and tables that we think are interesting. There may not necessarily be...

The markets are contending with many significant issues that have led to increased volatility. The primary issue is the U.S.-China trade war and associated slowing of the European, Japanese and Chinese economies along with decreased U.S. manufacturing and business investment. The Trump administration is challenging...

There is an old saying in the investment world that “Profits are an opinion, but dividends are a fact.” The implication is that nothing matters until an investor has received her cash distribution. It may therefore seem reasonable to focus on the dividend yield as...

Last year was a turbulent one for investors in which virtually every asset class ended flat to down. As noted in the August Tug of War Perspective, Lyell Wealth Management shifted to a less bullish, more balanced outlook towards the markets last summer, as we...