RMB Capital Management

Insights Library

Our Perspective

This collection of articles and commentaries from RMB provides examples of the in-depth research and analysis, industry knowledge, and fundamental principles underlying what we do for our clients. Explore the content available by scrolling or filtering topics.

Market Perspective and Investment Outlook

Following the volatility in early 2018, the month of October brought more market turbulence as investors grew anxious over rising bond yields, the speed of interest rate hikes coming from the Federal Reserve, and the ever-present international trade narrative. While we are encouraged by the persistent economic strength and earnings growth in the U.S., we anticipate that volatility will appear more regularly across global markets during 2019, as both the bull market and current economic expansion continue to age.

The Disparity in China-U.S. Trade

The brewing trade war between the U.S. and China could be a costly and consuming affair. But one need only look briefly at the history of U.S. trade to see that a trade negotiation is long overdue. Using that history as a guide, this article offers insight into how the U.S. trade deficit has developed and explains how trade agreements and protectionist actions like tariffs affect the domestic and global economy.

Market Perspective and Investment Outlook

After a prolonged period of calm in the U.S. markets, investors saw volatility materialize again in the first half of 2018. But despite the recent shakiness in the markets, above-average economic indicators and record earnings growth signal that we are not nearing the end of this nine-year bull market just yet.

Market Perspective & Investment Outlook

The U.S. economy continues on a stable path, buoyed by a strong consumer and robust business confidence. The initial estimate for third-quarter real GDP growth came in ahead of consensus, up 3% from the previous quarter, fueled by private fixed investment. Nominal growth rose 5.2%, the strongest pace since 2006. While the impact of Hurricanes Harvey and Irma likely suppressed some business activity, the stronger-than-expected GDP numbers highlight the resilience of the U.S. economy.

Market Perspective and Investment Outlook

The bull market that began in March 2009 recently celebrated its eight-year anniversary, making it the second-longest bull market since World War II. On a price return basis, the S&P 500 was up nearly 250% from the market bottom through the end of March, abetted by record highs set by major stock indexes in early 2017.

The Tax Policy Conundrum

During his election campaign, President Trump highlighted a number of key policy initiatives that would be the focus of his administration. Tax reform is one item on the agenda, but many unknowns remain about the president’s plan and how it may affect the budget and the national deficit. In this article, we provide perspective on potential outcomes related to the Trump administration’s tax policy.