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Market Commentary - Page 9

Looking at the U.S. economy and investment markets, the first half of 2014 was as notable for what didn’t happen as for what did.

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2014 is shaping up to be a year defined by mergers and acquisitions on Wall Street.

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Although high demand has seen municipal bond prices spike and yields drop in 2014, we believe munis remain attractive compared to other fixed-income assets.

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The big question for stock investors now is not, “Is the economy growing?” What they should be asking is, “Is the economy growing fast enough and reliably enough to justify today's stock prices?"

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As the U.S. steadily tapers its QE, the ECB appears on the verge of action with a monetary stimulus program of its own.

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