Granite Investment Partners provides their reflections on the second quarter. Topics discussed are mixed economic data, weaker GDP growth and the question on everyone's mind, when the Fed will raise interest rates.
"ReflectionsMarket remains little changed amidst volatility
The market remained largely range-bound in the quarter and for the year. The S&P 500 index ended the quarter basically flat, gaining +0.28%, bringing year-to-date total return for the first half of 2015 to +1.23%. Investors remain in somewhat of a holding pattern as they continue to monitor signals from the Federal Reserve in anticipation of the end of the prolonged period of easy domestic monetary policy. Market consensus has shifted expectations for the first rate hike forward into September, albeit with a fair amount of uncertainty due to conflicting economic data signals.[+] Read More