Bellevue Perspectives

Monday Minute

  • There was a huge reversal in the markets last Monday after we put together the Monday Minute.  The market rallied nearly 800 points on the news that the Federal Reserve will not only buy Treasuries, MBS, and high yield ETFs, but individual corporate bonds.  This news gave investors added confidence in the over-valued market we find ourselves in.  The program has the ability to purchase up to $750 billion worth of corporate credit.
  • The equity markets finished the week up 1.8% on the SP 500 and continued its strength into today on Fed support and positive economic data – strong housing, active retail sales, and positive consumer spending.  Last month’s jobs report was possibly the start of the new trend higher along with pent-up demand to restart the economy.  The spread of COVID-19 as we reopen will obviously have a significant impact on the sustainability of the recovery.  As mentioned last week, hospitalizations will be the key data point as testing becomes more widely available.  We continue to look for opportunities to trim the winners in our portfolios to reset asset allocations back to our strategic targets.  While we are still positive on the markets, they tend to over-shoot in both directions and we need earnings to catch up with valuations as equity prices are a little ahead of themselves.

HighTower Bellevue is registered with Hightower Securities, LLC, member FINRA and SIPC, and with Hightower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through Hightower Securities, LLC; advisory services are offered through Hightower Advisors, LLC.

This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.

All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and Hightower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.

This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of Hightower Advisors, LLC, or any of its affiliates.