Market Commentary - Taking Pause

In the first quarter of 2015, investors were confronted with nine stock market moves, both up and down, of 2% or greater. This increase in volatility reflects conflicting bouts of investor optimism and pessimism as the key macro drivers that have been the underpinnings of U.S. stocks come into question. The debate in the markets will persist as the low interest rate regime of the Federal Reserve begins to wane, the dollar continues to act as a headwind to earnings, and near-term energy price pressure carries on into the summer. Not surprisingly, investors are hypersensitive to the anticipated near term changes in monetary policy as the liquidity driven bull market enters its sixth year. Read More

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