Archive for September, 2011

September 2011

September 30, 2011  |   Monthly Commentary   |     |   0 Comment

Financial anxiety remained elevated during September as evident in the hyper-volatility of the stock market, acute widening in credit spreads, sharp rally in the U.S. Dollar, and the continued flight to U.S. Government debt. Our opinion is that with stability returning to the stock market and bank rumors subsiding, the price of corporate bonds will swing from loss to profit. A byproduct of the worry was the dramatic, broad-based market downturn in commodity prices, including oil ...