Weekly Market Commentary

Enzo Pellegrino on February 24th, 2015

The Markets It was all Greek to investors. Last Thursday, things weren’t looking so good for Greece. Barron’s explained: “…Germany scotched Greece’s request for a six-month extension to its existing aid package. Athens had sought more time to renegotiate the Draconian austerity package imposed on the land of Pericles, to keep from going bust and, […]

Weekly Market Commentary

Enzo Pellegrino on February 17th, 2015

The Markets Animal spirits were improving last week, according to Barron’s. The idea of animal spirits was introduced to the dismal science (a.k.a. economics) in the late1930s, courtesy of John Maynard Keynes. In The General Theory of Employment, Interest and Money (a dreary title that surely could have benefitted from an injection of animal spirits), […]

Weekly Market Commentary

Enzo Pellegrino on February 10th, 2015

The Markets What’s in an employment report? Last week, the U.S. Bureau of Labor Statistics’ Employment Situation Summary was full of encouraging data. Employment numbers for last November and December were revised higher which made 2014 the strongest year for job growth since 1999. However, 2015 isn’t off to a shabby start. The economy added […]

Weekly Market Commentary

Enzo Pellegrino on February 3rd, 2015

The Markets It’s true. January did not turn out to be the best month for U.S. stock markets. At the end of the month, the Standard & Poor’s 500 Index (S&P 500) was down about 3.1 percent. Before you start listening to pithy observations – the saying ‘as goes January, so goes the year’ has […]

Weekly Market Commentary

Enzo Pellegrino on January 27th, 2015

The Markets There may be potential for a reality television program starring central bankers and the making of economic policy. It could be called, ‘The Real Central Bankers of the European Economic Community.’ Just imagine the last two weeks’ episodes. Two weeks ago, the Swiss National Bank shocked markets by unpegging its currency and sending […]