Posts by Ryan Driscoll

Investment Strategy | Insights Blog

Real Estate Takes a Hit from the Fed

In this chart of the month, it is commonly cited that monetary policy tightening has a lagged impact on economic activity. However, as the Federal Reserve drives the cost of capital higher, the...
Market Commentary | Insights Blog

The Trouble with Europe

As U.S.-based investors, our clients tend to focus on issues closer to home when evaluating portfolio positioning. Most conversations are focused on the political climate, FOMC actions, localized...
Market Commentary | Insights Blog

Commonfund Perspective on the Russian Invasion of Ukraine

Key Takeaways As widely anticipated, Russia invaded Ukraine on Thursday, February 24th, causing volatility to spike across the capital markets globally. By the closing bell in the U.S., however,...
Market Commentary | Insights Blog

Exiting the Recovery Phase

Third Quarter 2021 Economic Outlook The end of the third quarter 2021 marks a turning point in the economic cycle. It’s the point where, despite the pandemic still being a part of daily lives,...
Market Commentary | Insights Blog

Digging Deeper into Inflation Fears

The current debate about whether the spike we are seeing in inflation is “transitory” should be reframed as “reflation vs sustained inflation.” Just like many other economic data points (ISM,...
Market Commentary | Insights Blog

A New Chapter for the Economy

The key driver of the economy, and of public sentiment, has been the aggressive distribution and acceptance of the COVID-19 vaccines. A litany of measures reflects the improved outlook for the U.S....
Market Commentary | Insights Blog

The Economy and Markets March On

Summary Positive signs on trade drove recent new highs in the U.S. equity markets The Fed continues to be accommodative and employment is strong Growth is slowing but is supported by the consumer,...
Investment Strategy | Insights Blog

Recession – Maybe This Time is Different

The July Federal Open Markets Committee (FOMC) meeting signaled the end of central bank rate normalization with the first rate cut in more than a decade. The last time the FOMC cut rates was in...
Investment Strategy | Insights Blog

The Crowded Liquidity Trade

The liquidity markets have experienced one of the largest disruptions since the inception of SEC Rule 2a-71 in the early 1970’s.  Over the past few months, we have seen a massive shift of investor...
Governance And Policy | Insights Blog

Where Did Our Operating Income Go?

Treasury managers face a new challenge to an old problem. Their institutions historically have relied on operating investment income to provide a necessary influx to operating budgets. Prior to 2008,...