December 13, 2018, Louisville, KY—Professional Bank Services, Inc., d/b/a ProBank Austin, is moving its corporate office headquarters from the 1000 Building on Dutchmans Lane, where it has operated for the last 34 years, to a new location in Louisville. The move will take place the week of December 17, with minimal, if any interruption in…
read article →The yield curve flattened even more as long rates declined more than short rates. Investors do not care about the economic data being reported. They are only focused on the trade tension between the U.S. and China. The fundamental economic data continues to reflect a solid expansion is still in place. Job growth was slower…
read article →Financial markets will be driven by two major events in the last week. Two major events occurred in the past week which will drive financial asset pricing this week. The first was the speech by Fed Chairman Powell . In that speech he changed his assessment of current monetary policy. In the first week of…
read article →As year-end 2018 rapidly approaches, I was looking at the landscape of Michigan’s banks across different asset-size classes. In past monthlies, I have sometimes opined on changes to this landscape, particularly as some of the state’s largest entities like NBD, First of America, Old Kent, Michigan National, etc. were merged out of existence. At the…
read article →The housing market improved in October but remains well below fundamental levels. One important sector of the economy continues to post weak monthly data. The existing home sales and housing starts data from last week reported small rebounds from what has been a slowing market. Existing home sales are down 5.1% in the past year….
read article →Data from last week and expected data this week does confirm our forecast. The recent acceleration in the economy has been driven by consumption . The data from last week indicated this surge in final demand is not slowing. Retail sales for the first month of the fourth quarter was reported as having risen by…
read article →The elections created a split Congress which should produce gridlock. The mid-term elections did nothing to resolve the direction of future fiscal policy . It did create an environment of gridlock in Washington. Financial markets generally like gridlock since it produces no change in current policies . At least corporations can make decisions within the…
read article →A strong jobs report is just another piece of evidence of continued solid growth in 2019. The FOMC meets this week as economic data remains strong, inflation remains low and the uncertainty of trade wars loom. These cross currents cause a wide range of forecasts for both the economy and possible timing of Fed actions….
read article →Status: Closed Lead Advisor: Craig Mancinotti
read article →Third quarter estimates of economic activity came in better than expected. The estimated growth in the third quarter came in above expectations. The Advance Report , subject to large change with more complete data, was released at 3.5%. This follows the 4.2% growth reported for the second quarter. The two quarters together represent the best…
read article →There has been much commentary of late concerning the Federal Reserve’s perceived independence and the central bank’s ability to enact policy decisions amidst political rhetoric and fears that the current rate-raising campaign by the Fed could inadvertently short-circuit economic growth. In late September, the Fed raised its benchmark rate another 25 basis points, marking the…
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