ETON Advisors Newsletter - October 2018

Returns on financial assets were scattered in the Third Quarter of 2018, with U.S. equities posting robust returns (up +7.7%), while global stocks, investment-grade bonds, and public real estate were relatively flat for the quarter. Commodities and precious metals suffered losses in Q3, but crude oil and Master Limited Partnerships (MLPs) were up nicely.

U.S. equity...

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ETON Advisors Newsletter - July 2018

In last quarter's Outlook, we suggested that financial markets are caught in a tug-of-war between the positive impact of late-cycle economics and negative forces connected to monetary policy and geopolitics.

As we look toward the second half of 2018, we reiterate our assertion that this struggle between opposing forces is ongoing and will continue for the near-term. Whether the positive impact of economic growth is likely to exceed the negative impact...

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ETON Advisors Newsletter - April 2018

After remaining dormant for most of 2017, market volatility returned with a vengeance in the First Quarter of 2018. Concerns over rising interest rates and inflation overcame positive news on economic growth and corporate earnings, triggering a selloff in both bonds and stocks in early February. The VIX index of implied equity market volatility spiked, startling some investors who had become complacent about downside risk:

After declining by over -10% (the traditional...

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