From Vision to Value:
Our Long-Term Investment Themes

Anticipating the megatrends influencing the economy and markets is a cornerstone for successful investing. That’s why our long-term investment themes consider how megatrends such as artificial intelligence, geopolitical tensions, and an aging population are presenting value-creation opportunities for long-term investors.

Surging Retail Sales Indicate Consumer Resilience, for Now
Economic Insight

Retail sales figures in July showed U.S. consumers continue to spend despite higher prices and rising interest rates.  In fact, the unexpected acceleration in spending activity was the primary driver in the second quarter that boosted topline growth to 2.4%.

Potomac Perspective
Washington Policy

Pressure has been building among House Republicans to pursue the impeachment of President Biden based on revelations connected to the investigation of the business affairs of his son, Hunter.  While the recent appointment of a special counsel for the Hunter Biden investigation will probably delay the beginning of a formal impeachment inquiry, questions about the potential impact of such an inquiry on financial markets are likely to pop up.

Stifel Bits
A breezy, lighthearted approach to our insights

$45 billion:  The increase in U.S. credit card indebtedness for the April-June period, a 4% increase.  Full indebtedness is now at $1.03 trillion, the highest amount since the Federal Reserve started tracking it.

Weekly Market Perspectives
For the week ending August 18, 2023

Markets fell for the third consecutive week as the 10-year U.S. Treasury rose another 10 basis points to 4.25%. Economic data readings came in positive and should support continued U.S. economic expansion in the third quarter. Yet, negative developments out of China and fears of financial contagion contributed to a risk-off market environment.