Yellen signals higher official rates
At long last, the Federal Reserve has set forth a path to higher rates. Fed Chair Janet Yellen told Congress that believes economic conditions "warrant further gradual increases in the federal funds rate," the interest rate charged on loans to the largest banks. Wall...  more
<em>Asia Pacific Watch:</em> February 2017
Inflation is an elusive target, and not found everywhere. For instance, while price inflation is measurable—though relatively low —in the U.S., it dropped in China and India, according to CBRE Global Investors' Shane Taylor and Juliet Cha. Persistently low inflation...  more
<em>Global Economic Outlook:</em> February 2017
Keep the champagne on ice for now, but it looks like the global economy is on an upswing. Despite a chorus of bears and a high level of uncertainty, AllianceBernstein Global Economic Research believes there could be more good than bad news in 2017. “When we consider...  more
<em>Europe Watch:</em> February 2017
Key to the future of real estate investment in Europe is the impact of the United Kingdom's exit from the E.U., or Brexit, for short. Yet as wrenching as Brexit is expected to be, the effects don't seem to obvious yet, aside from currency traders selling pounds. As...  more
<em>Market Flash Report:</em> February 2017
Pathstone’s Market Flash Report compiles the recent performance of various asset class indexes and summarizes economic and market developments.Call it “the triumph of hope over experience” as applied to investing, but January was a good month in the markets. “Stocks...  more
IRS says ‘You owe us money. Bye-bye, U.S. passport!’
It is a whole new world for Americans abroad, but perhaps not as welcoming as in the Disney song. A routine overseas trip could turn into a one-way ticket to the U.S. if the IRS says they owe back taxes. “January 1, 2016, marked a new era for Americans living abroad,...  more
The only certainty is uncertainty
Ninety days from the election and just a few weeks from the inauguration, investors are getting a better picture of the new administration and what it might do. The enthusiasm that fuelled a stock market rally is cooling off as Wall Street realizes that...  more
<em>Americas Watch:</em> February 2017
A marathon session with Fractured Fairy Tales must have inspired Shubrha Jha and her fellow analysts at CBRE Global Investors last month. Looking at the sectors of the U.S. real estate market, they ask which is the fairest of all, as Snow White’s wicked stepmother...  more
<em>Capital Markets Flash Report:</em> January 2017
Wealth advisory firm Greycourt & Company reviews the returns recorded in January by several asset classes, including domestic and foreign equities, fixed income, hedge funds, and commodities, in the Capital Markets Flash Report.Reality intruded on Wall Street’s...  more
National defense: Is another spending boom on the horizon?
The president’s campaign promise to substantially increase spending on defense has AllianceBernstein U.S. Economist Joseph Carson crunching the numbers and cracking the history books. Big dollars are involved, since “It would include modernizing U.S. nuclear weapons...  more
<em>Asia Pacific Watch:</em> January 2017
Australia attracts media attention every January with the playing of the tennis Open but real estate investors should be thinking about it year round. Although the island country is off the beaten track, there is much to recommend it. “Australia has been one of the...  more
What could change the benign nature of the business cycle?
The business cycle is a lot like the weather. It follows the same general path every year, but each season is different. And even with improvements in computer modeling, forecasting the weather is often not accurate. And the same is true of the business cycle...  more
<em>Europe Watch:</em> January 2017
Looking back on 2016, while the year was full of shocks and surprises, it turned out to be generally good for the bottom line. European commercial real estate, for example, did rather well. David Inskip and Simon Kristiansen of CBRE Global Investors call it a...  more
<em>Quarterly Market Overview:</em> Q4 2016
Pathstone Federal Street’s Quarterly Market Overview compiles statistics from several sources, including Bloomberg, Morningstar, and MSCI, for asset classes, market sectors, economic trends, and hedge funds, as well as economic data.The numbers are in and they...  more
2016 Market Review and 2017 Outlook
It certainly was quite a year, not least in the markets. Consider that 2016 began with a full-scale recession panic and oil price collapse. By December 31 a relief rally had rewarded patient investors with a 12 percent gain in U.S. equities as tallied by the S&P...  more
<em>Americas Watch:</em> January 2017
Many Americans were happy to see a new year begin, even though they did not feel a great change at 12:01 a.m. January 1. At least economic conditions are favorable, for which we can be thankful, and “Sentiment regarding the momentum of the economic expansion remains...  more
<em>Capital Markets Flash Report:</em> December 2016
Wealth advisory firm Greycourt & Company reviews the returns recorded in December by several asset classes, including domestic and foreign equities, fixed income, hedge funds, and commodities, in the Capital Markets Flash Report. As the post-election relief rally...  more
<em>Asia Pacific Watch:</em> December 2016
Outside Asia’s developed markets of Japan, China, and South Korea, real estate investors can find opportunities as well as some risky situations. On the plus side, Southeast Asia’s economies are expected to grow; a limiting factor is that they contain only 2 percent...  more
<em>Europe Watch:</em> December 2016
In a sea of turmoil (i.e., Europe), the Netherlands looks relatively calm. While not without its societal stresses—such as popular anti-immigrant politician and Trump fan Geert Wilders—the Dutch real estate market continues to appeal to investors. “The story of...  more
New U.K. non-dom tax changes in April 2017 — Last chance to act
For foreigners living in the United Kingdom—non-U.K. domiciliaries, or non-doms for short—many years of liberal tax treatment are about to end. On April 6, 2017, new rules go into effect covering treatment of assets held in the U.K. and abroad, including real estate...  more
<em>Americas Watch:</em> December 2016
While Wall Street celebrates the coming Republican ascendance, some observers are waiting to see if change in Washington will accelerate economic growth. Count Shubhra Jha and her fellow analysts among the sceptics. “There’s a widespread sense that a unified...  more
<em>Global Economic Outlook:</em> December 2016
U.S. equity markets seem to have left fear far behind in favor of a targeted rally, piling into sectors that could benefit under a Republican administration. Cooler heads, though, including AllianceBernstein Global Economic Research, are not convinced. “Donald Trump...  more
Capital Markets Flash Report: November 2016
Wealth advisory firm Greycourt & Company reviews the returns recorded in October by several asset classes, including domestic and foreign equities, fixed income, hedge funds, and commodities, in the Capital Markets Flash Report.Anticipating support for strong...  more
Fiscal policy change: Lessons from the Reagan era
The 2016 election ensured Republican control of Congress and the presidency, promising radical changes in every aspect of government. The tax code is at the top of the list, prompting  AllianceBernstein U.S. Economist Joseph Carson to recall the Economic...  more
Tax planning for year-end
After a few years of calm, uncertainty seems to be returning to the realm of taxes. The next Congress and president have promised to revamp the tax code, though the end result may not include everything that has been proposed. Nevertheless, investment advisory firm...  more