DUSA News and Press, Davis Select U.S. Equity ETF From 02/21/21

In August 2020, the Congressional Budget Office projected a wide 6.6 percentage point gulf between actual and potential GDP in 2020. The CBO also in August 2020, projected that the output gap would persist for the entire decade. The latest February 2021 CBO projection now shows th...

Jerome Powell's appearances in Congress next week may come at the perfect time. Rising yields have made investors nervous and the Fed Chair may be the person to put their minds at ease. Meanwhile, Boris Johnson will lay out plans for the easing of the lockdown measures in the UK. ...

As global stock markets continue to rise, commentators talk of a bubble. Longer-term indicators present mixed signals about valuation. Expectations about the speed of economic recovery from the pandemic are key. A recovery in productivity growth relies on saving and investment...

Inflation is going to remain relatively well-bounded. We will see a cyclical uptick in inflation this year. But from a longer-term perspective, there isn’t a meaningful risk of inflation breaking out significantly to the upside. Fiscal and monetary support are clearly two aspec...

When the economy overheats, central banks try to calm it down; when it's depressed, they try to prop it up, as they are doing at the moment. We are experiencing the most aggressive intervention in the economy and financial markets by the Fed and the US Treasury, which is why stocks ar...

Business shows its optimism with its investments. Credit conditions are easing. The business cycle is on a strong upswing – good news for equities. For further details see: A Strong Economy And Easier Lending Standards Are Fueling The Bull Market

Washington appears to be back at the center of the market’s attention as Congress moves to pass yet another fiscal package. For the moment, inflation is in check (prices as measured by the CPI rose about 1.5% year over year in January, a touch lower than the pre-COVID rate), bu...

Currently, we are at a P/E of 31 on the S&P 500. The last time that we saw valuations this stretched was in early 2000. With interest rates so low and policy so accommodative, we will see investors chasing things higher for longer. For further details see: An Era Of ...

Investors are growing increasingly hopeful about the economic outlook and next week's PMIs will tell us whether businesses share their optimism. Central bank minutes will also provide more insight into whether policy makers are encouraged and what it means for monetary policy. Opt...

Central banking traditionally operated as a judicious and conservative institution, with an overarching mandate focused on promoting monetary and financial stability. The world is now in the throes of history's greatest experiment in central bank doctrine and operations. The probl...