Power of the PENsion: Two-Faced January – Looking Back to Look Ahead at Capital Markets
Looking Back to Look Ahead at Capital Markets The month of January is named for the Roman god Janus, the god of thresholds and new beginnings. Janus is depicted with two heads signifying his look back to the past even as he looks forward to the future. At Highland, it’s been our practice to analyze…
Read MoreHighland’s 30-Year Anniversary
Highland celebrated 30 years in business on Thursday, November 9 at Market Square in Crocker Park. Clients, friends, colleagues and family gathered to enjoy a delightful evening of fellowship and reflection. Mayor Dennis Clough presented Rich Veres, Founder, with a proclamation honoring the occasion and deemed November 9th “Highland Consulting Associates, Inc. Day” in the…
Read MoreOperation London Bridge – What’s Your Plan?
photo credit: Unsplash “Begin with the end in mind.” −Stephen Covey In December 2023, the award-winning Netflix series on Queen Elizabeth II and the royal family, The Crown, ended its run. During a recent break, we found ourselves watching those later episodes of the aging Queen at the time of her Golden Jubilee and, later,…
Read MoreDecember 2023
Summary Keeping with the holiday spirit, markets finished the year in a generous mood, filling investors’ stockings with one final month’s worth of bumper returns for stocks and bonds. With the consensus in the U.S. and internationally, agreeing that interest rate hikes are likely a thing of the past, worries of a broad economic recession…
Read MoreThe Power of the PENsion: Reality and Resolutions – Guaranteed Retirement Income
photo credit Unsplash The Reality Americans have experienced in recent years: a worldwide pandemic, inflation, interest rate increases and geopolitical issues. There is a general feeling of unease. Add to that baseline the anxiety that workers report (up 33% in 2023[i]) concern about their jobs, their earnings, and their future financial security. According to a…
Read MoreAuld Lang Syne: Some Things Remain the Same (including Retirement Plan Committee Best Practices)
photo credit Pixabay As 2023 ends and a new year begins, in Scotland’s highlands and lowlands you’re likely to hear the familiar “Auld Lang Syne,” a Scottish expression meaning “old long since.” It’s a tribute to times past or a longing for old times. If you’re a plan sponsor fatigued by the pace of change,…
Read MoreNovember 2023
Summary Investors had plenty of reasons to feel thankful in November. Coming off consecutive losing months, stocks roared back, with global equity returns finishing north of 8%. Bonds followed closely behind, with the Bloomberg Aggregate Index posting its largest monthly return since 1985, buoyed by a stunning rally in interest rates during the second half…
Read MoreThe Power of the PENsion: Have We Stuck the Landing? (Or are we skating on thin ice?)
Earlier this month, the Federal Open Markets Committee (FOMC) unanimously agreed to hold the key federal funds rate in a target range of 5.25% to 5.5%. This short-term benchmark rate has been held steady since July 2023. With the decision to leave the rate unchanged, it might have seemed we’d stuck the landing—the economy’s soft landing…
Read MoreOctober 2023
Summary Markets continued to decline in October, retracing lower for the third consecutive month. Stocks took a hit due to a combination of strong economic data – which fueled concerns that higher interest rates will persist – and geopolitical risks associated with an escalating conflict in the Middle East. Bond yields were volatile throughout the…
Read MoreSeptember 2023
Summary Markets declined further in September, marking a second consecutive down month for both stocks and bonds. Interest rates marched higher, and the Treasury curve flattened with the 10-year yield topping 4.6% late in the month; mortgage rates also ended higher. On the economic front, the United Auto Workers initiated the first phase of a…
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