‘Chilling’ at Neutral

This weekend I had the opportunity to speak to the Baltimore Chapter of the American Association of Individual Investors (AAII). I was pleased to see so many members interested in learning about investment strategy on a Saturday morning. As I always do when discussing tactical asset allocation, I made it clear to the audience that…

Employment: Good, But Not Great

Today the market seemed to be spooked by the latest payroll employment report. According to the Bureau of Labor Statistics (BLS), nonfarm payroll employment rose by 115,000 in April. The official expectation was for 160,000, although the whispered number was 125,000 to 150,000. What is most interesting is that in actuality, nonfarm payroll employment rose…