Marquette Associates

Ryan P. Tracy, CFP® will be moderating two panels at Markets Group's 9th Annual Southwest Institutional Forum today: “Investments in Private Markets – How to Best Utilize Them” and “The Best Upcoming Private Credit Opportunities Since ‘08.” https://bit.ly/RTmgsw2024

Frank Valle, CFA, CAIA and Evan Frazier, CFA, CAIA will be speaking at the 2024 Pension Conference hosted by the Associated Fire Fighters of Illinois (AFFI) tomorrow in Springfield, providing a 2025 Market Outlook for attendees. https://lnkd.in/gF-mCHM6

Ryan P. Tracy, CFP® will be speaking at the 8th Annual Private Wealth Mountain States Forum hosted by Markets Group today in Denver, moderating the “Effectively Investing Through Alternative Markets; Diversification & Returns” panel. https://bit.ly/RTmgpwm2024

Catch Luis R Sierra, CFA, MBA, MSF speaking on two sessions at New America Alliance's Chicago Allocator Connection Roadshow tomorrow, 10/28. Luis will be a judge for “The Elevator Pitch” session and a panelist on “Navigating Key Metrics and Macroeconomic Headwinds: A Consultant and Family Office Guide for Emerging Private Equity and Venture Managers.” https://lnkd.in/gijumt_e

Loyal readers of Marquette research publications are likely aware that a small handful of U.S. large-cap technology-oriented stocks, dubbed the “Magnificent 7,” has comprised an outsized portion of performance of the overall domestic equity market over the last several quarters. Specifically, Apple, Microsoft, Amazon, Alphabet, Nvidia, Meta, and Tesla have accounted for roughly 55% of the total cumulative return of the S&P 500 Index since the beginning of last year. Much of this performance has been fueled by the remarkable earnings growth exhibited by these companies since early 2023, which can be observed in our #chartoftheweek. With many of the #Magnificent7 companies set to report third quarter results later this week, Evan Frazier, CFA, CAIA analyzes expectations going forward. https://bit.ly/EarningsSky

Managing Partner Patrick Wing is speaking at the Institute of Internal Auditors Annual Joint Controller’s Seminar today, presenting “Behavioral Investing in the Current Market Environment” for attendees. https://bit.ly/PWjcc2024

During his presidential term, Donald Trump increased tariffs on Chinese imports to address unfair trade practices including intellectual property theft. Specifically, using Section 301 of the Trade Act of 1974, the Trump administration imposed an initial 25% tariff on certain Chinese imports in 2018 that triggered a trade war that persists to this day. After this initial levy, Chinese imports fell by 17% on a year-over-year basis in 2019 and an additional 4% in 2020. That said, imports from China returned to pre-trade war levels in 2021 and 2022. Read on in our #chartoftheweek, “A New Tariff in Town?” by Grace Colson here: https://lnkd.in/erzK-8B4

With the #election less than two weeks away, polls indicate a very tight race not only for president but for control of the House and Senate as well. Given that margins in some of the swing states are likely to be razor thin, final election results will not be determined until several days after November 5th. There is no debate that the candidates and their expected policies are vastly different, but as investors, should we care who wins? Does the market care? In this edition of his quarterly letter, Gregory Leonberger, FSA, EA, MAAA examines a variety of historical data cuts to determine what market impacts might be expected based on the outcomes of this year’s elections. Read it here: https://lnkd.in/gkXtcpTR

Evan Frazier, CFA, CAIA will be speaking at the Alternative Investment & DealConnect Summit hosted by Private Markets Insider in Chicago today, moderating a panel entitled, “Secondaries Reach New Heights in Private Equity & Credit” with several investment professionals. https://bit.ly/EFpmi2024

Like many countries in recent years, Mexico has grappled with higher-than-average inflation levels, primarily driven by elevated food and producer prices. Mexico notably began tackling its inflation problem earlier than most developed countries in the wake of the COVID-19 pandemic. To that point, Banxico, the central bank of Mexico, started to raise its key rate in June of 2021, roughly 9 months before the U.S. Federal Reserve began its hiking cycle. This key rate reached a peak of more than 11% in early 2023 shortly after Mexican inflation, as measured by headline CPI, achieved a record high of 8.7% on a year-over-year basis. Read on in our #chartoftheweek by Eddie Arrieta, "Mexico Winning the Battle with Inflation" here: https://bit.ly/mexrates