Asset Allocation Reports

Asset Allocation Weekly (November 20, 2020)

by Asset Allocation Committee | PDF In the aftermath of the election and favorable news on vaccine progress, we have seen a notable backup in interest rates.  The 10-year T-note yield is flirting with 1%.  In this report, we will examine the future path of long-duration interest rates. We start with our 10-year T-note yield… Read More »

Asset Allocation Weekly (November 13, 2020)

by Asset Allocation Committee | PDF In our most recent Asset Allocation quarterly rebalance, we addressed the potential for election-related market disruption.  In the end, we made only modest defensive adjustments to the portfolios and instead focused our allocations on continued policy support and economic recovery.  In this week’s report, we will look at the… Read More »

Asset Allocation Weekly (November 6, 2020)

by Asset Allocation Committee | PDF In his book entitled The Counter-Revolution in Monetary Theory, Milton Friedman states that, “Inflation is always and everywhere a monetary phenomenon in a sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” This sentiment shaped both… Read More »

Asset Allocation Weekly (October 30, 2020)

by Asset Allocation Committee | PDF Many investment managers think of “foreign equities” as one big, monolithic asset class and leave it at that.  When setting a portfolio’s asset allocation strategy, many simply assign a certain percentage to the asset class and implement it by investing in a broad international index fund.  Here at Confluence,… Read More »

Asset Allocation Weekly (October 23, 2020)

by Asset Allocation Committee | PDF The measures adopted to combat the spread of COVID-19 caused one of the most unusual recessions in American economic history.  Although all recessions have their own unique characteristics, the recession that began in February was historically deep; it is likely already over too, making it one of the shortest… Read More »

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