Insights | Goelzer Investment Management

Weekly Market Update

July 30, 2025: To the Crossroads

Markets face what one strategist has called a “moment of truth”—a dramatic phrase, to be sure, but fitting given where markets stand and what lies ahead.* The S&P 500 has

Weekly Market Update

July 23, 2025: Lowering the Bar

Lower bars are easier to hurdle—a truism in both track and field and business. That appears to be the setup for second-quarter earnings season, which officially began last week with

Weekly Market Update

July 16, 2025: CPI’s Controlled Descent

The key datapoint this week is the Consumer Price Index report. While inflation reflects a modest increase from last month, there are no signs that price pressures are spreading across

Investment Management

Everybody Loves a Story (Or, Why Not to Trade on Headlines)

Everyone loves a story—even people in finance. To tell stories is as human as eating and drinking. And, just like those essential acts, storytelling can—and arguably should—be a joyful thing.

Weekly Market Update

July 9, 2025: Markets Cheer, Labor Lags

The S&P 500 closed at another all-time high last week, lifted by a stronger-than-expected June payrolls report that showed the U.S. economy added 147,000 jobs. The unemployment rate also declined

Private Investors

The New Tax Landscape: Highlights of the One Big Beautiful Bill

In our latest Fact Sheet, Goelzer’s Wealth Planning Team addresses the most pertinent provisions of the One Big Beautiful Bill, signed into law on July 4th. Those provisions include extending

Weekly Market Update

July 2, 2025: Markets Move Pretty Fast

Markets move pretty fast. If you don’t stop and look around once in a while, you could miss it. In the first half of 2025, the S&P 500 gained

Institutional Investors

How Nonprofits Can Adapt to a Shifting Funding Landscape

Nonprofits across the country are navigating a dramatically changing environment. In a recent briefing from the United Way of Central Indiana (UWCI), local nonprofit leaders painted a clear picture of

Weekly Market Update

June 25, 2025: Where’s the Inflation?

The Federal Reserve has been patiently watching and waiting for tariff impacts to show up in inflation data. However, inflation has been surprisingly soft over the past few months. Does

Weekly Market Update

June 18, 2025: Soft Inflation, Hard Choice: Why the Fed Will Stay the Course

This week’s meeting of the Federal Reserve’s Open Market Committee (FOMC) will almost certainly result in no change to the target interest rate. While expected, the decision to hold rates

Weekly Market Update

June 11, 2025: A Tale of Two Jobs Reports

May’s employment data presented two conflicting views of the labor market. The payroll survey—based on a sample of U.S. businesses—showed a gain of 139,000 jobs. In contrast, the household survey—drawn

Company News

Rebecca Jacklin Joins Goelzer as Managing Director of Institutional Advisory Services; Don Hutchinson Named Chief Growth Officer

Goelzer Investment Management, one of Indiana’s largest registered investment advisory firms, is pleased to announce that Rebecca W. Jacklin has joined the firm as Managing Director of Institutional Advisory Services,

Weekly Market Update

June 4, 2025: Technology Marches On, But Valuations Remain Rich

Following Nvidia’s earnings release last week, the market now has a fuller picture of key components from the Q1 2025 earnings season. One familiar theme stands out: large technology and

Weekly Market Update

May 28, 2025: Secondaries Grow, But Remain Small

The typical term of a private asset investment drawdown fund is ten years, meaning the fund manager should exit all deals return capital to investors by the tenth year. However,

Private Investors

Strategic Charitable Giving

Americans consistently rank among the world’s most generous charitable donors. However, most Americans are not aware of the many vehicles available to maximize the tax benefits of their donations. By

Weekly Market Update

May 21, 2025: Mounting Deficits Fuel Steepening of Treasury Yield Curve

All eyes are on Washington this month as Treasury yields continue to climb. Moody’s recent downgrade of US debt to Aa1 has added pressure across the curve, and remarks from

Weekly Market Update

May 14, 2025: Strong Tech Earnings Anchor Investor Optimism

This week, U.S. large-cap investors are breathing a collective sigh of relief as the S&P 500 has recovered its post-Liberation Day losses and now sits nearly flat for the year.

Weekly Market Update

April 30, 2025: Reading the Tea Leaves of GDP

This morning’s report on Q1 GDP offers some clues about what might unfold for the rest of the year. The reading of -0.3% (annual rate, seasonally adjusted) came in lower

Weekly Market Update

April 23, 2025: President vs. The Fed

Beginning last week and gaining steam over the weekend, President Trump’s dissatisfaction with Federal Reserve Chair Jerome Powell—and his threats to fire him—put investors on edge. The prospect of the

Weekly Market Update

April 16, 2025: The Bond Market Not Behaving “As It Ought To”

The U.S. bond market has not behaved “as it ought to” when stock investors become nervous, as seen following President Trump’s Liberation Day tariff announcements. For the month, the S&P

Investment Management

American Exceptionalism Amid a Gloom Bloom

For the past decade, the U.S. economy and stock markets have been the envy of the world. Aided by the growth of its technology sector, the U.S. economy grew at

Weekly Market Update

April 9, 2025: The Trump Tariffs Move Forward

President Trump’s first term began with market-friendly policies such as tax cuts and regulatory reform. Less market-friendly trade policies emerged later in his term. The market’s initial reaction to Trump’s

Weekly Market Update

April 2, 2025: International Stocks Come to Life

The first quarter of 2025 delivered a dramatic turnaround for international stocks. To be sure, this year’s outperformance of international stocks is to a large degree a simple reversal of

Weekly Market Update

March 27, 2025: Corporate Earnings to Provide a Reality Check

The conflict between hard and soft economic data is becoming increasingly relevant as we approach the end of the first quarter. Economic indicators have weakened, including a sizable drop in

Institutional Investors

Are Foundations Focused on the Right Questions?

What is our return relative to our Benchmark? Valid question, but not always the most important question on which to focus. Relative return measures a single aspect of success, whether

Weekly Market Update

March 19, 2025: The Curious Case of Tight Credit Spreads

Bond market credit spreads remain unusually tight despite broader market volatility. While spreads have widened from their historically tight levels, they have not widened as much as expected, due to

Weekly Market Update

March 12, 2025: Dazed & Confused

No sentient being should be surprised of President Trump’s affinity for tariffs. In his first term, President Trump raised tariffs on imports from China, sparking retaliatory tariffs and a mild

Weekly Market Update

March 5, 2025: The Infrastructure Investment Opportunity

What comes to mind when you think of infrastructure is probably roads, bridges, and power plants. While these certainly fall under that category, infrastructure is much more than that. It

Weekly Market Update

February 26, 2025: Market Broadening Begins

As we have noted, when stocks are highly priced, they are increasingly vulnerable to even a hint of negative news. That proved true last week for the S&P 500® as

Private Investors

Strategic Wealth Decisions for High Income Earners

As a high-income earner, you have reached the position where your income exceeds your immediate needs. And most likely you have already taken the important steps of establishing an emergency

Weekly Market Update

February 12, 2025: Why the Job Market Will Keep the Fed Biased Toward Rate Cuts

On first glance, last week’s January jobs report signaled continued momentum for the U.S. economy and the job market. While the number of new jobs created last month declined from

Weekly Market Update

February 5, 2025: Seeking Deeper in the Equity Market

The Deepseek issue has stirred domestic equity markets over the past couple of weeks. A Chinese AI app demonstrated results comparable to—or in some cases, better than—large language models (LLMs)

Weekly Market Update

January 29, 2025: Lower Interest Rates Help Private Equity

Rising rates in 2022 and 2023 put pressure on private equity. Higher interest rates make financing private equity deals more expensive, which reduces deal activity. Less demand for deals puts

Weekly Market Update

January 22, 2025: Some Positive News on Inflation

Last week’s economic reports reinforced that the U.S. economy ended last year on sound footing. Following last week’s report on December retail sales, the Atlanta Fed’s GDP Now Tracker increased

Weekly Market Update

January 15, 2025: Charting the Tariff Conversation

A recent chart of AI-identified mentions of tariffs in S&P 500 earnings calls underscores the increasing relevance of tariffs in shaping economic expectations. As President-elect Trump outlines his 2025 tariff

Investment Management

Our Annual Look Into the Future

The past year was challenging for professional market forecasters. As the year began, caution was in the air—and for good reason. In 2023 the S&P 500® Index produced a total

Weekly Market Update

January 8, 2025: U.S. Stocks: More of the Same

In large-cap U.S. stock markets, 2024’s performance was much like 2023. The S&P 500® Index produced total returns in both years that were well above historical averages (26% in 2023

Company News

Cheryl Ackerman & Heather Tilton Join Goelzer Leadership Team

January 2, 2025 We are delighted to share that Cheryl Ackerman and Heather Tilton have joined our leadership team at Goelzer Investment Management. Cheryl serves as our Director

Weekly Market Update

December 31, 2024: How the U.S. Economy Surprised Again in 2024

Since the U.S. Federal Reserve began hiking interest rates in March 2022, economic forecasters, Wall Street strategists, and Federal Reserve officials had anticipated the U.S. economy to slow—if not fall

Company News

Goelzer Releases 2024 Community Engagement Report

December 17, 2024 We are proud to share our new Community Engagement Report, which highlights our efforts this year to Enrich the Lives of Our Clients, Colleagues, and Community.

Weekly Market Update

December 11, 2024: Bad News Is Good News

Last week’s economic reports provided further evidence that the U.S. job market is slowing. Despite headline growth of 227,000 jobs in November, a higher unemployment rate and lengthening duration of

Company News

Best Place to Work in Money Management 2024

Goelzer Investment Management, Inc. Selected Again as a Best Place to Work in Money Management by Pensions & Investments NEW YORK, NY (Dec. 9, 2024) – Goelzer Investment Management,

Weekly Market Update

December 4, 2024: Rising Tide Is Lifting All Boats

U.S. stocks have delivered strong returns over the past month, with the stocks in the Russell 3000 Index posting an average gain of 9.87%.1 Robust corporate earnings, supported by a

Private Investors

After the Election, What’s Next for the Tax Cuts & Jobs Act?

Leading up to the recent election, there was much uncertainty about the fate of the Tax Cuts and Jobs Act (TCJA) of 2017 and how to plan for the potential

Investment Management

The Election Is Finally Over. Now What?

Finally, the election is over. For many months over the past year, investors parsed inflation reports, employment reports, and even formerly exotic reports such as the Senior Loan Officer Opinion

Weekly Market Update

November 20, 2024: Are Tariffs Really Inflationary?

Since the election, many have assumed higher tariffs will lead to higher inflation. However, a closer look reveals this may not be the case. During the 2018 trade war, PCE

Weekly Market Update

November 6, 2024: A Cooling Market for U.S. Workers

After two light weeks of economic news, last week brought a surfeit of economic data releases and corporate earnings reports. Among the former, investors received two reports on the U.S.

Weekly Market Update

October 30, 2024: Stock Market Stability Belies Bond Market Volatility

As the stock market continues to notch new highs, underlying uncertainty may go unnoticed. While the stock market projects calm, increased volatility is clearly visible in the bond market. You

Company News

Chris W. Cotterill to Serve as President of Goelzer, Succeeding Brett D. McKamey

We are pleased to announce that Chris W. Cotterill will serve as our firm’s President effective January 2nd. Chris will succeed Brett D. McKamey, who has served as our President

Weekly Market Update

October 23, 2024: The Federal Reserve Cuts Rates—And Rates Go Up

For much of 2024, many homeowners held hopes to refinance their 7-8% mortgages into lower-interest loans as interest rates fell. Those hopes likely grew later in the summer as the

Investment Management

Rates Are Coming Down. Now What?

As we enter the fourth quarter we can make a prediction with reasonable confidence: short-term interest rates will move lower over the next 12-18 months. In fact, they have already

Weekly Market Update

October 9, 2024: Will the Small Fish Catch Up to the Big Whales?

2024 is set to mark the fourth consecutive year of small-cap stock returns lagging large-cap stock returns. But optimism has surfaced on the horizon. Analyst forecasts point to parity in

Weekly Market Update

October 2, 2024: How Restrictive Are Interest Rates?

Long awaited stimulative actions from the Chinese government captivated investor attention last week. Whether these actions deliver their intended jolt to China’s economy remains to be seen. Indisputable, however, was

Weekly Market Update

September 25, 2024: Another Atypical Rate-Cut Cycle

Periods in which the Federal Reserve lowers interest rates have typically been positive for equities. Moreover, defensive stocks, such as those found in the consumer-staples sector, have tended to outperform

Investment Management

Where Have All the Public Companies Gone?

A frequent topic in the financial world has been the downward trend in the number of publicly listed companies in the U.S. stock markets. Peaking back in the mid-1990s at

Weekly Market Update

September 18, 2024: The Descent Is the Hardest Part

This week the Federal Reserve will almost certainly join other major central banks in easing monetary policy. It has been a long time coming. The Federal Funds target rate reached

Weekly Market Update

September 11, 2024: An Unpleasant, Yet Ordinary, Week in the Stock Market

For investors in U.S. stocks, last week’s 4.2% decline, as measured by the S&P 500 Index, was unpleasant but certainly not unique. In fact, declines of that size occur regularly

Weekly Market Update

August 28, 2024: Rate Cuts Are Coming… But How Many?

Last Friday in Jackson Hole, Federal Reserve Chair Jerome Powell made clear that the Federal Reserve will move its target interest rate lower next month. This move will come after

Private Investors

The Impact of Biases on Financial Decisions

“History never repeats itself;man, always does.” – Voltaire In the complex world of financial decision-making, our choices are influenced by psychological biases that can lead to less-than-optimal outcomes. Anchoring,

Weekly Market Update

August 21, 2024: A Bad Dream, or More to Come?

The market’s recent days of volatility might feel today like the distant past. Last week, the S&P posted its strongest weekly performance since last November, pushing the index higher and

Weekly Market Update

August 14, 2024: Return to Normal: Negative Stock-Bond Correlations

We have seen a notable shift in stock-bond correlations this year as inflation declines. Historically, high inflation leads to positive correlations, meaning stocks and bonds move in the same direction,

Weekly Market Update

August 8, 2024: Volatility Awakens from Its Slumbers

This Monday’s trading day offered two historic market moves. The 12%, single-day drop in Japan’s Nikkei stock-market index was the largest decline in that index since 1987. Domestically, the so-called

Weekly Market Update

July 31, 2024: A Welcome Rally in Beleaguered Stocks

A rotation out of the crowded AI trade has benefited beleaguered small cap and value stocks. A historically narrow market, led by a handful of large tech companies, left many

Weekly Market Update

July 24, 2024: Stay Focused on Earnings

Last week’s economic releases delivered a mixed picture. On the one hand, a better-than-expected retail sales report signaled that consumer spending continues to expand—at a slower rate than last year,

Company News

Goelzer Investment Management Selected as United Way of Central Indiana’s Spirit United Award Winner

Spirit United is the most prestigious recognition the United Way awards to its corporate partners. July 22, 2024 INDIANAPOLIS – Goelzer Investment Management, one of Indiana’s largest registered

Weekly Market Update

July 17, 2024: The Economy Cools & Earnings Estimates Warm Up

The flurry of earnings reports is about to begin, and the primary question for investors this season is how the gap between weakening macroeconomic data will reconcile with optimistic, bottom-up

Investment Management

Investment Implications of This Year’s Election

We are frequently asked about the upcoming U.S. election and how the results of that election might affect the economy and markets. What follows is a concise summary of certain

Weekly Market Update

July 10, 2024: Why Interest Rate Cuts Are Becoming More Likely

The Fourth of July holiday may have shortened last week’s trading schedule, but the holiday could not keep investors from growing increasingly focused on the probability of interest rate cuts

Weekly Market Update

June 26, 2024: How Nvidia Became “The Most Important Stock in the World”

Since the beginning of May, Nvidia’s stock has appreciated 42%. Such a two-month move in a stock is not in itself unusual. However, this level of stock appreciation is unusual

Institutional Investors

Strategically Managing Portfolio Risks

“You can only control your decisions, you cannot control the result.” While difficult to attribute to any one person, this sentiment is useful advice for institutional investors as they navigate

Weekly Market Update

June 19, 2024: Positive News on the Inflation Front

A few months ago, an unorthodox economic theory began to gather attention. Rather than constraining economic activity, could higher interest rates instead be stimulating it? The question seemed timely. Despite

Weekly Market Update

June 12, 2024: Understanding Inflation Measures

When interpreting this week’s CPI report, it is important to note that inflation measures are not created equal. The Consumer Price Index (CPI) is based on a fixed basket

Weekly Market Update

June 5, 2024: The Fed Model: A Questionable Timing Tool

For much of the past 15 years, low bond yields have helped push up stock prices as investors found few alternatives to stocks in attempting to reach their return objectives.

Weekly Market Update

May 22, 2024: Opportunities in Artificial Intelligence

With Memorial Day weekend and a quiet week of economic news ahead, the market is laser-focused on this week’s earnings report from NDIVIA, considered by many to be the bellwether

Private Investors

Business Succession Planning: Considerations for Every Stage

Depending on what stage you are at in the lifecycle of your business, business succession may have very different meanings. While revenue, expenses, profits, and opportunities for growth will always

Weekly Market Update

May 15, 2024: Why Are Consumers Pessimistic?

Last week’s consumer sentiment report from the University of Michigan reaffirmed that consumers are feeling increasingly negative about the economy. These negative sentiments persist despite jobs growing at an average

Weekly Market Update

May 8, 2024: A Strong Start to the Year in Corporate Earnings

High interest rates, global conflict, problems in commercial real estate—despite these ongoing concerns, the U.S. corporate juggernaut carries forward. Through Monday, over 85% of companies in the S&P 500 Index

Weekly Market Update

May 1, 2024: Why Budget Deficits Matter

This week, investors will digest a litany of economic data, including updates on the U.S. job market and on manufacturing and service activity. These releases come amid a busy week

Investment Management

Narrow Stock Market, Again

Last year, we published two quarterly Insights papers noting the narrow performance of the U.S. stock market, and for good reason. Over half of the S&P 500 Index’s 24.2% price

Private Investors

Concentrated Stock Positions: Considering Your Next Steps

Morgan Housel in his book, Psychology of Money, discusses a phenomenon that is the obsession of many but achieved by few: creating significant wealth, as quickly as possible. He says

Company News

Best Place to Work in Indiana 2024

Goelzer Investment Management Selected as a Best Place to Work in Indiana Again in 2024 March 4, 2024 INDIANAPOLIS – Goelzer Investment Management, one of Indiana’s largest registered

Institutional Investors

Accessing Private Markets with Interval Funds

Interest in accessing private market assets continues to grow among institutional and high net worth investors. Often referred to as alternatives, private market assets are simply the ability to invest

In The Press

MarketWatch, January 19, 2024

I want my son to inherit my $1.2 million house. Should I leave it to my second husband in my will? He promised to pass it on. Director of

Investment Management

Our Annual Look into the Future

For all but a few prognosticators, 2023 was a humbling one. As we mentioned in last quarter’s Insights, most economists entered 2023 predicting a recession. And stock market forecasters were

Company News

Gavin W. Stephens, CFA to Serve as Chief Investment Officer

We are pleased to announce that Gavin W. Stephens, CFA will serve as the firm’s Chief Investment Officer effective January 1st. As CIO, Gavin will lead our Investment Management team,

Company News

Special Event with Marianne Glick & Yvonne Shaheen

As part of our engagement with endowments, foundations, non-profits, and other institutions, we hosted Marianne Glick and Yvonne Shaheen for a moderated conversation in November to focus on their

Company News

Goelzer Releases 2023 Community Engagement Report

December 13, 2023 We are proud to share our new Community Engagement Report, which highlights our efforts this year to Enrich the Lives of Our Clients, Colleagues, and Community.

Company News

Best Place to Work in Money Management 2023

Goelzer Investment Management, Inc. Selected as a Best Place to Work in Money Management in Nationwide Review by Pensions & Investments NEW YORK, NY (Dec. 12, 2023) – Goelzer

Private Investors

Bringing Clarity to Your Legacy

Warren Buffet once remarked, “Someone is sitting in the shade today because someone planted a tree a long time ago.” Planting and nurturing a tree to the point that it

Investment Management

Where’s My Recession?

In the mid-2000s, author Daniel H. Wilson published “Where’s My Jetpack?,” a book for frustrated futurists in search of techno wonders promised long ago. Somewhat like Wilson, investors have spent

Institutional Investors

Sustainable Spending Policy: What Nonprofits Should Know

Among the many decisions facing an investment committee, few are as critical as setting an appropriate spending policy. Comprising a set of rules to govern how a nonprofit will distribute

Private Investors

The Tax Cuts & Jobs Act of 2017: Gazing into the Sunset

All Good Things May Come to an End The Tax Cuts and Jobs Act of 2017 (TCJA) received a great deal of attention for providing significant income tax savings

In The Press

MarketWatch, August 14, 2023

Dear Tax Guy: I inherited a lake house, but want to give my share to my sister. How can we do this — and avoid paying taxes? Director of

Investment Management

Artificial Intelligence: Analysis from an Investment Perspective

During the first half of 2023, the S&P 500 Index returned 16.8% with nearly three-fourths of that performance coming from just ten companies.1 The dominating theme driving these lopsided returns

Investment Management

The Narrow Stock Market: And the Trends That Got Us Here

Much has been written about the U.S. stock market’s narrow performance this year—and for good reason. At its most extreme, five months into the year, all of the S&P 500

Institutional Investors

Strategies for Institutions to Manage Excess Cash

“Is our money safe at the bank?” Until recently, that question probably has not kept you up at night. However, unprecedented times tend to shuffle priorities, and, with the recent

Private Investors

Tax-driven Retirement Plan Choices Post-SECURE 2.0

The past few years have presented a chaotic landscape of new rules and regulations related to federal income taxes. The recent passing of SECURE Act 2.0 in late 2022 created

Investment Management

The Path to Normal

I am often asked, “When will things return to normal?” Despite their daily routines returning to normal, investors continue to feel the aftershocks of the Covid-19 pandemic in the economy

Institutional Investors

Nurturing Donor Base Critical for Institutions of Higher Ed

Overall, people are giving more to nonprofits. Over the last 40 years, the average yearly increase in charitable giving in the U.S. has been $10.7 billion and reached an all-time

Investment Management

Thoughts on the Fallout from Silicon Valley Bank

In recent days, state banking authorities and the FDIC have closed three banks: Silvergate, Signature Bank, and Silicon Valley Bank (SVB). Both Silvergate and Signature Bank held a niche in

Private Investors

Planning to Protect Your Legacy

A vital part of comprehensive wealth planning is the estate plan. If you have invested the effort to define your goals, manage your cash flow, and save and invest toward

Company News

Best Place to Work in Indiana 2023

Goelzer Investment Management Selected as a Best Place to Work in Indiana Again in 2023 February 27, 2023 INDIANAPOLIS – Goelzer Investment Management, one of Indiana’s largest registered

Investment Management

Improved Expectations

Investors have been through a volatile multi-year stretch. The combination of a worldwide pandemic and erratic monetary policy led to 20% or greater declines for U.S. stock prices in three

In The Press

MarketWatch, December 27, 2022

Dear Tax Guy: I bought a portable oxygen concentrator for a friend with terminal cancer. Could it be a charitable donation? Senior Wealth Advisor Michelle Jann reviews some of

Private Investors

Charting Your Financial Journey in 2023

Are you interested in moving your finances in a different direction in 2023? If so, it is time to plan your trip. And like all trips, your financial journey will

In The Press

MarketWatch, December 21, 2022

Opinion: RMD calculation for charitable contributions: Here’s the most tax-efficient way to give Senior Wealth Advisor Michelle Jann reviews the benefits of qualified charitable distributions (QCDs) for MarketWatch readers.

Company News

Goelzer’s Special Event with Moira Carlstedt, John Elliott, & Ann Murtlow

On November 29th, more than a hundred non-profit leaders, board members, and friends joined us for a special, moderated conversation with Moira Carlstedt, John Elliott, and Ann Murtlow that

In The Press

TD Ameritrade Network, December 16, 2022

The Best Way to Construct a Portfolio in Today’s Market Director of Portfolio Management Gavin Stephens, CFA, joined “Morning Trade Live” host Oliver Renick to talk about fixed income,

Uncategorized

Goelzer Releases 2022 Community Engagement Report

December 12, 2022 Our core purpose is to Enrich the Lives of our Clients, Colleagues, and Community, and our 2022 Community Engagement Report highlights our many efforts this past

Private Investors

Giving Strategies in a Challenging Market

As Thanksgiving approaches, our thoughts often shift to loved ones and our communities. The season of giving also begins with Giving Tuesday taking place the week after Thanksgiving. Many people

Investment Management

When Good News Is Bad News

As this difficult year for investors moves ahead, a peculiar logic is taking hold over the markets: what is good is bad, and what is bad is good. In other

In The Press

The Bond Buyer, July 28, 2022

Munis follow UST rally post-weak GDP; fund inflows return Director of Portfolio Management Gavin Stephens, CFA, tells The Bond Buyer that most of the damage to bonds is finished

In The Press

MarketWatch, July 26, 2022

Here’s the threat to markets if investors ignore ‘nontrivial’ stagflation risk In a current state of stagflation, Director of Portfolio Management Gavin Stephens provided commentary to MarketWatch about how

Investment Management

The Rising Value of Money

In our April 2021 edition of Insights, I wrote that inflation would become the new worry for investors. With the consumer price index above 8% the past three months, that

Private Investors

Wealth-building Strategies to Consider in Down Markets

In times of stress, our natural reaction is to either run for the hills, fleeing from what threatens us or to freeze and do nothing, choosing to endure and hoping

In The Press

The Wall Street Journal, June 22, 2022

Stocks Wobble as Powell Testifies Before Congress Director of Porfolio Management Gavin Stephens spoke to The Wall Street Journal about recent market moves and recession indicators. To read

In The Press

Life’s Third Act Podcast, June 21, 2022

A discussion on markets and Goelzer’s expansion into St. Louis Don Hutchinson and Brett Stehl discuss the economy and inflation, market strategies and Goelzer’s expansion into St. Louis with

In The Press

FIN-News, June 9, 2022

Investment Advisor Adds Institutional Consultant FIN-News, which provides insights on the institutional asset management space, reported on our hiring of Brett Stehl as an institutional consultant as we grow

In The Press

CNN Business, May 16, 2022

Stocks could fall a lot further Director of Portfolio Management Gavin Stephens is quoted on whether the Fed will stay the course and hike rates, despite the stock market

Investment Management

Is a Fed Put in Play?

Will declining stock prices cause the Federal Reserve to alter its course? May 2022 During the last hiking cycle—a slow, deliberate cycle that began in December 2015—investors

In The Press

The Bond Buyer, April 27, 2022

Munis steady in their own lane amid UST volatility Director of Portfolio Management Gavin Stephens speaks about time-sensitive opportunities in municipal bonds. To read this article, please click

Investment Management

On the Probability of Recession

April 2022 Prior to each of the past six U.S. economic recessions, the yield on 2-year U.S. Treasury notes has risen above the yield on 10-year U.S. Treasury bonds—a

In The Press

Reuters, April 22, 2022

Analysis: Some investors tiptoe back into Treasuries, as hawkish Fed clouds outlook Director of Portfolio Management Gavin Stephens discusses Goelzer’s bond strategy amid a hawkish Fed. To read

In The Press

The Bond Buyer, April 18, 2022

Munis hit on long end, play catch-up to Treasuries Director of Portfolio Management Gavin Stephens’ commentary on the chances of a near-term recession is quoted. To read this

Investment Management

Sorting Through the Headwinds

April 2022 The new year has delivered a sharp jump in volatility across stock, bond, and commodities markets. Chart 1, for example, shows that daily price volatility for the

Institutional Investors

Inflation Impacts Foundations in Unique Ways

March 2022 Inflation is at the top of most minds—and with good reason. The most recent information released by the US Bureau of Labor Statistics cites that the Consumer Price

Investment Management

War in Ukraine: Implications for the Economy and Markets

March 2022 Following Vladimir Putin’s decision to invade Ukraine, we have fielded many questions about potential spillover effects of the war on the global economy and on financial markets.

In The Press

MarketWatch, March 25, 2022

Stock-market investors should watch this part of the yield curve for the ‘best leading indicator of trouble ahead’ Director of Portfolio Management Gavin Stephens speaks to Joy Wiltermuth about

In The Press

The Bond Buyer, March 24, 2022

Munis hit hard on short end, damage felt along curve Director of Portfolio Management Gavin Stephens’ commentary on the 3m/10y yield curve is quoted. To read this article,

In The Press

Barron’s, March 23, 2022

The ‘Yield Curve’ Is Close to Inverting. A Different Curve Tells a More Upbeat Story Director of Portfolio Management Gavin Stephens is quoted on why investors may be watching

Company News

Best Place to Work in Indiana 2022

Goelzer Investment Management Selected as a “2022 Best Places to Work in Indiana” Company February 22, 2022 INDIANAPOLIS – Goelzer Investment Management, one of Indiana’s largest registered investment

Company News

Best Place to Work for Financial Advisers

Goelzer Investment Management Named a 2022 Best Place to Work for Financial Advisers in Nationwide Program February 7, 2022 INDIANAPOLIS – Goelzer Investment Management, one of Indiana’s largest

Investment Management

Our Annual Look to the Future

January 2022 “Tomorrow belongs to those who can hear it coming.” —DAVID BOWIE We have made it our practice to begin each year with an update of our 10-year

Investment Management

ESG Investing: What, Why, and Considerations for Successful Implementation

November 2021 Growing interest surrounding ESG investing, which stands for Environmental, Social, and Governance, requires institutional investors to be aware of the challenges and considerations in successfully implementing ESG

Investment Management

Where Have the Vigilantes Gone?

October 2021 “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want

Private Investors

What’s Your Business Exit Strategy?

Critical Actions for Success Most business owners agree that having a formal transition strategy is important, yet 80% of owners don’t have one. It’s easy to delay the process,

Investment Management

When Volatility Matters

July 2021 Investing involves risks. One type of risk we all try to avoid is the permanent loss of money. But a more common risk faced by investors is temporary

Company News

Goelzer Investment Management is Back Downtown

July 6, 2021 Goelzer Investment Management is proud to announce the full return of our team to our headquarters on the Circle in Downtown Indianapolis and the full reopening

Institutional Investors

Market Trends: Why the Next 10 Years Won’t Be Like the Last 10 and What Investors Should Do Today

Goelzer Investment Management’s Institutional Advisory Services team provides a unique look into capital market conditions with an eye towards the re-opening of the economy, intermediate implications of a shift in

Investment Management

Inflation: The New Worry

April 2021 Investing is a never-ending struggle between worry and optimism. The past 14 months illustrated that better than any period in recent memory. Beginning with panicked selling set off

Company News

Best Place to Work in Indiana 2021

Goelzer Investment Management Selected as a “2021 Best Places to Work in Indiana” Company February 2021 Goelzer Investment Management, one of Indiana’s largest registered investment advisory firms, is very

Investment Management

More or Less the Same

“After changes upon changes we are more or less the same.” PAUL SIMON, “THE BOXER” January 2021 For all the economic turmoil and suffering the pandemic caused in 2020,

Investment Management

Abnormal Economy, Abnormal Markets

October 2020 While still below January’s pre-pandemic level, the U.S. economy has made great progress since the lifting of lockdowns and restrictions. Yet today’s economy is far from normal and,

Institutional Investors

How the CARES Act May Affect Your 2020 Taxes

October 2020 The CARES Act was passed in the spring in an effort to help Americans through the pandemic and ensuing economic turmoil. It also may provide a few additional

Institutional Investors

Indiana Sheriffs: Protecting Your Pension in Changing Times

August 2020 In Indiana, our county sheriffs protect our communities and enforce our laws, and we are deeply grateful for the safety and security that sheriffs and their deputies provide.

Investment Management

The Recovery Begins

July 2020 We’ll start with good news: the recession that began in February has already ended. That is not to say that the economy is back to where it was

Institutional Investors

The Importance of Alternatives in Time of Crisis

June 2020 As equities experienced two bear markets and interest rates declined in the 2000s, interest in alternatives became more pronounced. This was coupled with innovation in financial instruments, including

Institutional Investors

The Importance of a Strong IPS

June 2020 The importance of a strong Investment Policy Statement in times of crisis: What can (and should) you be doing? What happens when you make short-term decisions with long-term capital? Think long-term

New Laws and Tax Strategies for 2020

June 2020 Over the past six months, Congress has passed two new laws that affect retirement, charitable giving, and estate planning. The new laws known as the SECURE (Setting Every

Company News

Our Plan to Reopen Our Office Following the Recent Stay-at-Home Orders

May 2020 Goelzer Investment Management reopened our offices in downtown Indianapolis this week in accordance with our new Return to the Office Plan, which is designed to protect the health

Maintain a Disciplined Approach

April 2020 Mitigation efforts to slow the spread of COVID-19 are affecting the daily lives of people around the world. Some 2.6 billion people are now living under government

A Message about the Market’s Reaction to Coronavirus

March 2020 Given recent events, extreme volatility, and understandable concern, we want you to know we are very much present and assessing new information as it becomes available. We

Company News

Goelzer Investment Management Welcomes Chris W. Cotterill as Chief Operating Officer

January 2020 “At Goelzer, intellectual capital has always been one of our strengths, and with Chris Cotterill aboard, we’re enhancing our management capabilities so that our clients continue to

Markets Soar in an Imperfect Economy

January 2020 The stock market reminded us again this past year that a perfect economy is not required to push stock prices higher. Rather, prices climb on signs of

Institutional Investors

Spending Guidelines for Institutional Investors

Most institutions rely on their investment portfolios to fund their budgets. From tuition assistance to basic operational assistance, these institutions have drawn on their investment funds to fulfill their missions.

What the Markets Are Telling Us

August 2019 What is one to make of the markets over the past six months? First the stock market fell 20% and bond yields declined, both correctly predicting a

Why Own Bonds?

August 2018 The first three quarters of 2019 have produced unexpectedly strong results for bond investors. Slowing global economic growth, declining inflation expectations, and accommodative central bank policies have

Why Your Bonds Should Be Actively Managed

August 2018 Investors have shown increasing acceptance of passive investment strategies. Meanwhile, funds that employ active strategies—that is, those with managers who strive to outperform their benchmarks—have lost market share

Private Investors

Insights

Insightson investments, markets and our community

Insights
on investments, markets and our community