The events of the last few months with the shootings of unarmed black men and a woman and the extreme health crisis leading to continued economic disparity for women and people of color (higher unemployment rates1 and intensifying income inequality2) have resurfaced...
Economic Reflections
The Election
The 2020 election represents our sixth presidential election advising clients. Many voters felt that each of these elections reflected the increasing polarization of America and represented a “do-or-die” battle for the soul and future of our country. That emotional...
The Costs of Federal (Non)Intervention
On March 27, 2020, the President approved the CARES (Coronavirus Aid, Relief, and Economic Security) Act, a $2.2 trillion package of economic interventions to support individuals, small businesses, hospitals, and state, local, and tribal governments.1 The goal was to...
Non-US Developed Markets Outlook
The global pandemic halted economic activity creating a sharp drop in growth in the UK, Japan, and the Eurozone in the second quarter.
The Value of Pensions
Amid a pandemic, a recession, and an upcoming election, changes to pension rules are easy to miss. However, the US Department of Labor’s rule change[i] proposed last Tuesday, June 23, would profoundly complicate the already challenging task of effectively...
Why Invest?
The past week, investors bought up millions of shares of Hertz, a bankrupt rental car company that’s stock is essentially worthless.[i] And so many investors piled into wanna-be electric vehicle maker, Nikola, that its market value briefly matched that of Ford...
When We Were Sick: Lessons in (Un)Employment
As the health and economic impacts of the COVID crisis deepen, the world at times feels divided between extreme optimists and gloomy pessimists. What place is there for a more measured voice like Syntrinsic’s? For insight, we have called upon our friends from the...
Missed Rent | May 18 – 22, 2020
As the COVID-19 pandemic has suddenly driven unemployment and hobbled or closed many businesses, people have less cash to meet rental and mortgage obligations. Missed lease and mortgage payments across residential and commercial properties could have far-reaching...
Inflation, Please | May 11 – 17, 2020
If you are wondering about inflation, you are in good company. With unprecedented government stimulus around the globe being deployed with record speed, it is natural to wonder if such loose monetary policy will lead to higher...
The Stock Market vs. the Real Economy | May 4 – 8, 2020
How can the U.S. stock market perform so well when the American economy is doing so badly? Though the S&P 500 declined by 30.43% from January 1, 2020, to the recent low on March 23, it is up 31.25% from March 23 to May 8. Between the crash and subsequent rally,...
High-Frequency U.S. Economic & Virus Tracker | April 27 – May 1, 2020
Tracking the Crisis The Great Financial Crisis gathered like a slowly building storm long before it caught the attention of most of us. Quant models failed in the summer of 2007, LIBOR spiked a few months later, and then the Auction Rate market froze in...
Shape of Recovery | April 20 – 24, 2020
“When will this end?” quickly has become the most common question we field. The “this” in the question covers deaths by COVID-19 and social distancing, negative economic growth, weak investment markets, high unemployment, and tremendous uncertainty. It means, when...