Monthly Recap – July 2010
By Meredith StoudtPosted on August 8th, 2010
July . . . At A Glance
A clean bill of health for European banks and reasonably solid corporate earnings (benefitting from easy year-over-year comparisons) lifted the markets this month.
Bond investors stayed wary of the markets, however, as actual economic data has not been exciting. This continued to depress yields even further, thus buoying the performance of fixed income.
We continue to keep our fixed income maturities short to protect against rising rates. While economic statistics will likely continue to disappoint, corporations will not be able to continue creating earnings without hiring workers at some point. Volatility in the markets has decreased, although trading volume was even lower this July than is typical, showing many investors are not currently interested in the market. We view this as an opportune time to get into the equity markets.
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“What Investment Trends are making an impact in 2010” by Mark Fissel, RFC;
Columbus Business First – 6/25/2010
“Shaky Stock Market puts Low Risk Corporate Bonds in Play for Investors” by Robert Celaschi,
Columbus Business First – 6/25/2010 (Clint Edgington, CFA)
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| Clint Edgington, CFA Partner Beacon Hill Investment Adivsory |
Mark Fissel, RFC Partner Beacon Hill Investment Adivsory |