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CIP Quips

Running out of Patience

What’s in the News: 

Last Thursday, the 10 year Treasury note hit 2.03%, its lowest point of the year. With Fall just around the corner, we are reminded that the Fed is supposed to be on a path of normalizing interest rates, a fact difficult to grasp since the 10 year US Treasury note is at the same level it was in November of last year. While US 2Q GDP was revised higher, manufacturing and consumer sentiment are at yearly highs, and we are seeing synchronized global expansion, Central Banks continue their accommodative monetary policies as our economy is missing one thing: inflation.  

Although many Fed officials think inflation will eventually rise, low employment and potential economic weakness due to hurricanes Harvey and Irma could cause the Fed to pause on their previous plans. 

 

Probability of Interest Rate Activity at September 20, 2017 FOMC Meeting

1/3/2017 -  9/8/2017

Source: Bloomberg

 

What are we thinking?

Retirees can’t afford to wait on the sideline for rates to rise.  According to a study by Wells Fargo, 59% of Americans are more concerned about avoiding loss than maximizing the growth of their retirement investments - which the study labels as ultimately "too conservative". The Fed may be the only ones in a position to remain patient – but a risk-managed fixed income strategy such as CIP could be a strong option for your clients.  



This information is intended solely to report on investment strategies and opportunities identified by Roosevelt. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. This material is not intended as an offer or solicitation to buy, hold or sell any financial instrument. References to specific securities and their issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. Please contact us at 646-452-6700 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions, or if you would like to request a copy of our Code of Ethics. Our current disclosure statement is set forth on our Form ADV Part II, available for your review upon request, and on our website, www.rooseveltinvestments.com.

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The Roosevelt Investment Group, Inc. is an independent investment management firm that is not affiliated with any parent organization. The Roosevelt Investment Group, Inc. manages domestic equity, international equity, domestic fixed income, global fixed income, and balanced assets for primarily U.S. clients. The Roosevelt Investment Group, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission and notice filed in all 50 states.

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