Mill Creek perspectives Archive
Deficits
Will Mortgage Rates Decline?
Mill Creek Private Debt: Navigating a Higher-for-Longer Interest Rate Environment (White Paper)
September Update: “Navigating by the Stars under Cloudy Skies”
Insights from Maui Wildfires for Bond Investors
Higher Rates Are a Risk to the Rally
Pricing in a Soft Landing
August Update: Explaining American (Stock Market) Exceptionalism
What Type of Recession?
How High Can Treasury Yields Go?
Private Equity Midyear Update: A Look Beneath the Surface
Q3 2023 Outlook
Slow and Steady
May Consumer Price Index: Something for everyone, including the Fed
Small-cap Stocks Surge as Investors Begin Buying Improved Outlook
June Update: A Pause on the Horizon
Concentration Conundrum
Watch the Replay: Inside ‘The Bogle Effect’
Relative Strength of the Tech Sector May Wane as the Year Continues
May Update: Riptides
Q1 23 Private Equity Data: Down, but Not Out
Losing Steam
Q2 2023 Outlook
Stuck Between a Rock and a Hard Place
The Increasing Likelihood of Unlikely Events
Move Quickly and Break Things
March Update: Pivot (again?)
Private Equity Remains Resilient Amid Tech Sector Downturn (White Paper)
TINA Has Left the Building
House View Summary – February 2023
Updating Our View on Credit
Reacceleration
February Update: Is the 60/40 Portfolio Dead?
The Labor Market Remains Very Tight
Why Corporate Borrowers Remain Well-Positioned
Fowl Play
House View Summary – January 2023
Latest Job Report Means Another Fed Rate Hike Likely
Year Ahead 2023: Long and Variable Lags
Mission Accomplished?
A Letter from the Grinch 2022
The Top Five Most Memorable Trades of 2022
December Update: Head Fake or Turning Pointing?
Turkey Inflation
Our Perspective: Emerging Markets
Near-term Macro Headwinds Persist for Non-US Stocks
Earnings Outlook Continues to Deteriorate
Higher for Longer
November Update: A Market-Led Fed Pivot?
Taking Advantage of Higher Bond Yields
Preparing for a Recession with Low Volatility Equities
The Faintest Glow at the End of the Tunnel
Q4 2022 Outlook
A Lehman Moment in Europe?
September Update: Powell’s Prediction for the (Inflation) Fight? Pain.
Credit Markets: What We Are Watching Now
Cash – Not quite trash
Private Equity: How Will Investors Face 2Q Valuations?
Earnings Rise Albeit at a Slower Pace than Prior Quarters
August Update: Recession?
What an Inverted Yield Curve Could Mean for US Economic Conditions
Updating Our Capital Markets Assumptions
2022 Capital Markets Assumptions
What Did 1Q 1980, 2Q 1984, and 2Q 2022 Have in Common?
Q3 2022 Outlook
A Housing Reset?
Private Equity: When Will We Feel the Pain?
A Powell Surprise
What’s Ahead for Credit Spreads
June Update: Cracks in the Foundation
Investment Market Update – May 19, 2022 [Video]
Global Small-Cap Stocks Present Attractive Opportunity for Investors
Behind the Curve
Earnings Season Yields Better-Than-Expected Results
May Update: Gross Domestic Panic?
Market Update: Sentiment Turns Negative
How Likely Is an Inflation Disaster?
Down on the Farm
Steepen the Curve!
Q2 2022 Outlook
The worst (bond) bear market in 40 years
The Fed Hiking Cycle Has Begun
The Driving Forces of Inflation
Normalization Ahead for Earnings
March Market Update
“If you hear the missiles are flying”
The “Hurry Up” is over
2022 Risk Monitor: Equity Valuations
2022 Risk Monitor: Rising Interest Rates
The “Hurry Up” is here
2022 Risk Monitor: Domestic Politics
2022 Risk Monitor: Supply Chain Disruptions
2022 Risk Monitor: Inflation
Q1 2022 Outlook
A Letter from the Grinch
Maximize Your Philanthropic Impact Before Year-End
The Five Most Memorable Trades of 2021
Year Ahead 2022: Hurry Up and Wait
The Season of Giving
Lessons from the Thanksgiving Turkey
Inflation Jumped in October
Strong Q3 Results Provide Support for Higher Equity Prices
Taper Time
Peaks, Records and All-Time Highs
The Path Forward
The Price of Admission
Headwinds
US Corporate Borrowers Pile into Green Bond Market
Second Derivatives
Contrary to popular belief, active equity management is alive and well!
Mill Creek House View Summary – September 2021
All Eyes on Washington
Taper Tranquility
Fly Fishing with the Fed
Q2 2021 Produced Upbeat Earnings but Don’t Be Misled
All-time Records vs. Structural Shifts
Will the Housing Market Boom Bust?
The high cost of short-term stability
Equity Highs: Much Ado About Nothing
Assessing the first half
Mill Creek House View Summary – August 2021
High prices are the cure for high prices
The Fed wants to ruin your inflation call
Rebalancing Act
Star Performers: High Yield Municipal Bonds Continue to Shine Across Fixed Income Sectors
June 2021 Market Perspective: Investment Implications of the American Jobs Plan and American Families Plan
Putting Cash to Work in 2021
Everything is transitory until it’s permanent
Earnings Season: First Quarter Results Exceed Wall Street’s Expectations
May 2021 Market Perspective: Booms, Bubbles, and Busts
Dogecoin and Your Hometown Deli
Sustainability Perspective – Climate Change
Employment: One million down, 11 million to go
April 2021 Market Perspective
Road to Recovery
3-22-21 Weekly Market Wrap
3-15-21 Weekly Market Wrap
3-08-21 Weekly Market Wrap
March 2021 Market Perspective
2-22-21 Weekly Market Wrap
2-16-21 Weekly Market Wrap
2-8-21 Weekly Market Wrap
February 2021 Market Perspective
1-25-21 Weekly Market Wrap
1-19-21 Weekly Market Wrap
1-11-21 Weekly Market Wrap
GEORGIA ON OUR MIND
Mill Creek 2021 Annual Market Perspective
12-28-20 Weekly Market Wrap
12-21-20 Weekly Market Wrap
12-14-20 Weekly Market Wrap
Taxable Fixed Income: What Hath COVID Wrought?
12-7-20 Weekly Market Wrap
November 2020 Market Perspective
11-30-20 Weekly Market Wrap
11-23-20 Weekly Market Wrap
11-16-20 Weekly Market Wrap
11-09-20 Weekly Market Wrap
October 2020 Market Perspective
11-02-20 Weekly Market Wrap
10-26-20 Weekly Market Wrap
10-19-20 Weekly Market Wrap
10-12-20 Weekly Market Wrap
10-05-20 Weekly Market Wrap
09-28-20 Weekly Market Wrap
September 2020 Market Perspective
09-21-20 Weekly Market Wrap
09-14-20 Weekly Market Wrap
09-08-20 Weekly Market Wrap
August 2020 Market Perspective
July 2020 Market Perspective
June 2020 Market Perspective
May 2020 Market Perspective
April 2020 Market Perspective
Long and Winding Road Part 3
Long and Winding Road Part 2
Long and Winding Road Part 1
Brave New World
Shelter from the Storm
A Passel of Known Unknowns
This Time It’s Different March 2020
February 2020 Monthly Perspective
January 2020 Monthly Perspective
Mill Creek Annual Market Perspective 2020