Summer 2020 Commentary

Market Recap For the quarter, U.S. stocks rose sharply, with the S&P 500 gaining 20.5%. International stocks also advanced, with the MSCI EAFE climbing 14.9%. Bonds also increased, with the Bloomberg Barclays Aggregate Bond Index rising 2.9%. Outlook We began the second quarter in the midst of an economic catastrophe … Read more »

The Stars at Night Aren’t the Only Things Shining Bright in the Lone Star State!

Robert Kaplan Discusses the Texas Economy at the CFA Society of Houston Luncheon Robert Kaplan, president of the Federal Reserve Bank of Dallas, spoke recently at a lunch sponsored by the CFA Society of Houston. As Director of Investments for Horizon Wealth Advisors, I am a member of the CFA … Read more »

Have No Fear! Why the Recent Inverted Yield Curve Should Not Cause Panic

Yesterday, investors woke up to the news that the yield curve has inverted, which means that short-term bond yields are higher than long-term bond yields.  In this case, investors were focused on the difference between the 2-year and 10-year U.S. Treasury bond yields.  This is considered to be worrisome because … Read more »