We would like to announce exciting news. For several years, our clients have been asking to have us deliver additional added services to continue with the Ultimate Client Experience they are accustomed to. We are proud to announce that Fortem Financial has officially launched Fortem Insurance Services. This will allow us to enhance your client experience by integrating key aspects of insurance within your financial plan. Please give us a call today if you would like a review. Some of the new … View More
For nine of the last fifteen years, few people thought about the Fed. Sure, we discussed QT and QE, but the Federal Reserve held interest rates at zero year after year. In 2017 and 2018, they lifted rates, and it was all anyone talked about. Then they cut them to zero and the noise went away. Now, with rates headed up, all eyes are again on the Fed, and investors are parsing every word of its statements and the Powell press conferences. As of Friday, the futures market expects a quarter-point r… View More
1Q Earnings Marginally Ahead Of Initial Estimates After the second week of earnings reports, growth rates continue to improve marginally compared to initial estimates and now are expected to decline -4.7%, a slight improvement from last week’s -4.8%. Furthermore, sales are now expected to grow 1.9% which means margin contraction remains the story as higher costs weigh on profits. Perhaps most notable is the deceleration in financial sector earnings growth after the initial large banks reporte… View More
In an effort to be dispassionate about our market forecast, we have categorized 16 basic building blocks of market strength as either assets or liabilities on a regular basis since 2002. The weighted and unweighted measures of Strategas’ “Shareholder’s Equity” dropped to an all-time low for the series. The proximate cause for the decline was our recategorization of Profit Growth/Margins as a Liability rather than an asset. The last time this exercise was conducted was before 4Q ’22 ea… View More
Some cracks are appearing in the U.S. economy. Initial jobless claims with revisions were 228,000 last week. The ISM mfg & svc indices both fell notably in March. The Fed’s H.8 release showed bank loans declining at the end of March. The Dallas Fed reported loan demand was down with contacts noting “waning consumer confidence from recent financial instability as a concern.” The American Banker Association (ABA) indicated tighter credit conditions. We continue to believe the Fed’s Se… View More