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Joe Terranova
January 2013 Calendar

12/31/2012

Joe Terranova
Final Thoughts for 2012

12/28/2012
With just two trading days remaining in 2012, the S&P 500 Index (SPX) looks positioned to...

Joe Terranova
Fiscal Cliff Plan C?

12/21/2012
Last evening House Speaker John Boehner cancelled a vote for his “Plan B,” which would have allowed for an extension of the Bush era tax cuts for all those making $1,000,000 or less.

Joe Terranova
2012 Global Comeback Story: Europe

12/19/2012
It was exactly this time last year that multiple investment banks presented their 2012 market and economic outlook.

Joe Terranova
Italian Elections

12/12/2012
Early Monday morning investors awakened to what was being presented as a new market headwind – the resignation of Italian Prime Minister Mario Monti.

Joe Terranova
Joe Terranova’s first quarter playbook is available

12/12/2012
Joe Terranova’s first quarter playbook is available

An Unusual Season for Closed-End Funds

12/10/2012
For many investors, the fourth quarter is a time to assess their portfolios, consider reallocations based on market outlook and their upcoming tax bills, and, if feasible, seek to minimize their tax burden.

Joe Terranova
U.S. Labor Report: Not Actionable

12/7/2012
This morning’s U.S. Labor report for November is a positive surprise on the surface..

Joe Terranova
U.S. ISM Manufacturing

12/3/2012
The first day of trading for the month of December greeted investors with...

Joe Terranova
China PMI

12/3/2012

Newfleet Asset Management
Leveraged Loans

12/3/2012
Leveraged loans to finance dividends have doubled this year.

Joe Terranova
December 2012 Calendar

11/30/2012

Joe Terranova
Investors Should Be Thankful for Germany

11/26/2012
Over the past few days Americans have had the opportunity to spend holiday time with family and friends.

Joe Terranova
Checking the Technicals

11/19/2012
The S&P 500® Index (SPX) declined 1.45% last week, placing its current 2012 year-to-date performance at +8.13%.

Joe Terranova
Global Monetary Policy to Take Center Stage

11/19/2012
One of the problems for global capital markets has been the loss of the “carry trade.”

Joe Terranova
The Economic Impact from the Fiscal Cliff

11/19/2012
Over the past six months the strength in the U.S economy has clearly shifted away from manufacturing toward the consumer.

Joe Terranova
Earnings Scorecard: Season Gets Set to Close

11/13/2012
The S&P 500® Index (SPX) quarterly earnings season is readying to close.

Joe Terranova
Convince Me Differently

11/7/2012
Throughout much of 2012, I offered both within blogs and quarterly commentary that I expected President Obama to win a second term.

Newfleet Asset Management
Barclays US Treasury Index

11/7/2012
Barclays US Treasury Index is yielding 0.91% with duration of 5.5 years.

Joe Terranova
U.S. Jobs Report – Something for Everyone

11/2/2012
For those expecting this morning’s U.S. jobs report to provide the markets with some form of clarity – you must be disappointed.

Joe Terranova
November 1st Global Data

11/1/2012
As the calendar flips into November, multiple global economic data reports have been released.

Joe Terranova
November 2012 Calendar

10/31/2012
Interactive Economic Indicator Calendar

Joe Terranova
Electoral College 269-269?

10/29/2012
The U.S. presidential election is quickly approaching, and for the first time since the campaign began, the outcome is impacting capital markets.

Joe Terranova
The Election Correction

10/24/2012
Last Friday, I posted a blog highlighting my concern over the lousy earnings reported so far this season, in particular for technology.

Joe Terranova
Earnings Scorecard: Concern is Elevated

10/19/2012
As of Friday, October 19, 2012, earnings have been reported for 116 of the 500 corporations that make up the S&P 500® Index (SPX).

Joe Terranova
Keep Your Eyes On the Treasury Market

10/17/2012
Whether or not the beginning of a larger reallocation out of Treasuries is unfolding at this point is mere speculation.

Joe Terranova
Weekend China Trade Data

10/15/2012
On Friday, October 12, 2012, the S&P 500® Index (SPX) (Figure 1.1) closed down 2.21% for the week, capping a week of lower corrective trade targeting the all-important 1422.38 SPX technical support level.

Joe Terranova
Freshen Up The Energy Portfolio

10/11/2012
Over the past few days I have received a few inquiries regarding the absence of any commentary within the Q4 playbook on refiners.

Joe Terranova
EPS and Revenue Growth Expectations

10/10/2012
Third quarter earnings and revenue will be reported over the next few weeks.

Kayne Anderson Rudnick Investment Management
Why are equities doing so well?

10/10/2012
U.S. equity returns were robust in the third quarter with the S&P 500® Index increasing 6.35%, the Russell Midcap® Index up 5.59%, and the Russell 2000® Index up 5.25%.

Joe Terranova
September Nonfarm Payroll Report

10/5/2012
This morning the Labor Department released its monthly jobs report.

Joe Terranova
Joe Terranova's Q4 Market Commentary

10/5/2012
Joe Terranova's Q4 Market Commentary

Duff & Phelps Investment Management Co.
Utilities/telecom stocks remain an attractive option for yield-starved investors

10/1/2012
Utilities and telecom stocks may be trading at historically high multiples, but...

Joe Terranova
Global Manufacturing Readings

10/1/2012
The fourth quarter of 2012 began with global manufacturing readings.

Joe Terranova
U.S. ISM Back Above 50

10/1/2012
Last week we offered a blog highlighting the positive turn for the Richmond Fed Manufacturing Index.

Joe Terranova
October 2012 Calendar

9/28/2012

Joe Terranova
Richmond Fed Turns Positive

9/25/2012
For most of the summer, domestic and global manufacturing figures have disappointed the markets and provided evidence that the sector’s growth has stalled.

Joe Terranova
The Trend is Still Your Friend

9/20/2012
Roughly one week has passed since the FOMC surprised the capital markets with an extremely aggressive new round of asset purchases.

Joe Terranova
Initial Jobless Claims

9/20/2012
This morning the Labor Department released weekly jobless figures for the week ending September 15.

Newfleet Asset Management
Focus On QE3

9/19/2012
What is QE3?

Joe Terranova
Updated S&P Technical Formation

9/14/2012
Throughout the third quarter, the pristine technical formation for the S&P 500® Index (SPX) (Figure 1.1) has most accurately guided investors.

Newfleet Asset Management
How the Fed’s Rate Announcement Relates to Senior Floating Rate Bank Loans

9/13/2012
The Fed expects to keep short term rates near zero until at least mid-2015.

Joe Terranova
Precious Metals

9/11/2012
The spot price of gold has risen nearly 8% during the third quarter of 2012, while the more volatile and less liquid precious metal silver has risen over 21%.

Joe Terranova
Soft U.S. Jobs Report: +96K

9/7/2012
August U.S. Labor Report released this morning…

Joe Terranova
QE3? Investor Strategy

9/7/2012
In the wake of this morning’s disappointing labor figures, multiple economists have suggested that QE3 is certified when the FOMC meets next Wednesday and Thursday, September 12-13, for the sixth time this year.

Joe Terranova
ISM Remains Below 50

9/5/2012
U.S. markets returned from the Labor Day holiday with the release of the first major economic report for the month of September.

Joe Terranova
China PMI 49.2

9/4/2012
The month of September begins with investors digesting another disappointing economic data point from China.

Joe Terranova
September 2012 Calendar

8/31/2012
Check out Joe Terranova's Interactive Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events.

Joe Terranova
September Labor Figures to Decide U.S. Presidential Election?

8/29/2012
On Monday evening, August 27, John Hilsenrath, chief economic correspondent for the Wall Street Journal, appeared on CNBC’s Fast Money to discuss the September 12-13 FOMC meeting.

Duff & Phelps Investment Management Co.
Infrastructure stocks offer higher dividend yields than their bonds

8/28/2012
Infrastructure equities may offer something their bond counterparts don’t – higher yields and the potential for growth.

Joe Terranova
FOMC Minutes: Doves Are Perched Above The Market

8/23/2012
Yesterday afternoon the FOMC released the minutes from its two-day meeting on July 31-August 1.

Duff & Phelps Investment Management Co.
REITs going strong with room to grow

8/17/2012
As of July 31, most sectors of the U.S. REIT market tracked by the National Association of Real Estate Investment Trusts (NAREIT) produced double-digit returns year to date. U.S.

Joe Terranova
Updated S&P Technical Formation

8/17/2012
Since late July we have highlighted the near-term bullish technical structure of the S&P 500® Index (SPX) from the June 4, 2012 low of 1266.74.

Joe Terranova
Earnings Season Closes Out

8/17/2012
As of Friday, August 17, earnings have been reported for 477 out of 500 S&P 500® Index (SPX) companies.

Joe Terranova
Congressman Ryan, Capital Markets Impact

8/14/2012
During this past weekend Republican presidential candidate Mitt Romney selected Wisconsin Congressman and House Budget Committee Chairman Paul Ryan as his running mate.

Joe Terranova
Further PBOC Easing is Needed

8/9/2012
Overnight economic data from China looks soft once again.

Joe Terranova
The Technology Sector Indicator

8/7/2012
Over the past several weeks, our blogs have focused on the potential for the SPX to appreciate toward the upper end of this year’s 1258.86 to 1422.38 trading range.

Joe Terranova
July Non-Farm Payrolls

8/3/2012
Friday morning August 3, 2012 the Labor Department reported the July Non-Farm Payrolls report

Joe Terranova
Backward days

8/2/2012
Today I had the privilege to spend some time with CNBC Senior Economist, and good friend, Steve Liesman.

Joe Terranova
U.S. ISM & FOMC

8/2/2012
On Wednesday, August 1, 2012, the Federal Open Market Committee (FOMC) released a statement that read incredibly similar to their June 20 statement, until the final sentence.

Joe Terranova
August 2012 Calendar

7/31/2012
Check out Joe Terranova's Interactive Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events.

Joe Terranova
Jobless Claims, Durable Goods, SPX Support, and the FOMC

7/26/2012
For the week ending July 21, jobless claims declined by 35,000 to 353,000, much better than analyst estimates for 380,000.

Joe Terranova
The Charts That Matter Most

7/23/2012
In what is shaping up to be a classic “summertime” market, let’s take a look at some charts...

Joe Terranova
Earnings Calendar: Week of July 23, 2012

7/23/2012
The week of July 23, 2012 has 172 more S&P 500® Index (SPX) companies reporting second quarter earnings

Joe Terranova
Earnings Scorecard as of July 22, 2012

7/23/2012
As of Sunday, July 22, 2012, roughly 24% or 118 of the 500 SPX corporations have reported their quarterly earnings for the calendar second quarter.

Newfleet Asset Management
Fixed Income Q&A with Newfleet’s CIO

7/17/2012

Joe Terranova
Earnings, Week of July 16

7/16/2012
Last week initiated the calendar 2012 third earnings release for investors to digest.

Joe Terranova
JPM acts as a Technical Catalyst for the SPX

7/16/2012
The surprising performance of financial institutions during the first quarter of 2012 was a leading contributor to the S&P 500® Index’s (SPX) strong start to the year (Figure 1.1). Therefore, it was no coincidence...

Newfleet Asset Management
Finding Value in Fixed Income – Part II

7/10/2012
As multi-sector fixed income investors, we have a large team of sector specialists whose job is to uncover opportunities in their sectors.

Joe Terranova
Earnings Ahead, Week of July 9

7/9/2012
This week begins the second quarter reporting period for U.S. corporations. Earnings continue to act as a tailwind for the capital markets.

Joe Terranova
Another Weak U.S. Jobs Report

7/6/2012
June payrolls increased +80,000, below consensus estimates of +100,000.

Joe Terranova
Globally Coordinated, or Not?

7/5/2012
Hoping everyone had a wonderful 4th of July holiday.

Joe Terranova
U.S. ISM Manufacturing

7/2/2012
The second half of 2012 began with the 10 a.m. release of the U.S Institute for Supply Management Manufacturing Index.

Joe Terranova
China Yuan

6/27/2012
As the second quarter closes out, investors continue to look for indicators to suggest an end to the current pause in market appreciation.

Joe Terranova
July 2012 Calendar

6/27/2012
Check out Joe Terranova's Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events

Newfleet Asset Management
Finding Value in Fixed Income – Part I

6/25/2012
As deep value investors, we look for opportunity across all 14 sectors of the bond market, which, in aggregate, adds up to about $22 trillion – five times the size of the equity markets.

Joe Terranova
FOMC Statement and Market Impact

6/21/2012
Yesterday, the Federal Reserve Open Market Committee (FOMC) announced it will extend Operation Twist through the end of 2012.

Joe Terranova
Initial Jobless Claims

6/21/2012
This morning’s weekly Initial Jobless Claims failed to lift any expectations for the upcoming July 6 U.S. Jobs report.

Joe Terranova
Where's the Market?

6/19/2012
Beginning 6 p.m. last Sunday, the most asked question on Wall Street was “Where’s the market?”

Joe Terranova
Greek Election Preview

6/15/2012
This Sunday, June 17, close to 10 million Greek voters will once again vote in an attempt to form a coalition government.

Joe Terranova
JPM Senate Testimony

6/13/2012
Early last week we amended our June market calendar to include this morning's Senate testimony from JP Morgan (JPM) CEO Jamie Dimon.

Joe Terranova
Weekend Data from China

6/11/2012
Last week, the People’s Bank of China (PBOC) continued easing its domestic monetary policy with its first interest rate cut since 2008.

Duff & Phelps Investment Management Co.
Dividend-paying, low beta equities for choppy markets

6/8/2012
Investors looking for long-term income may want to consider dividend-paying, low beta infrastructure stocks, which...

Joe Terranova
Active Central Bankers

6/8/2012
Market observers spent much of Thursday afternoon, June 7, expressing disappointment that Federal Reserve Chairman Ben Bernanke did not telegraph a more accommodative stance during this morning’s Senate testimony.

Joe Terranova
German Exports & Imports

6/8/2012
In our June market calendar “The Table Setter,” I highlighted the significance of German economic data. Weakness within the German economy will pressure the governing Christian Democratic Party to agree to concessions for sharing the eurozone’s massive debt.

Joe Terranova
Bernanke Must Have Read the Beige Book

6/8/2012
Federal Reserve Chairman Ben Bernanke’s failure to commit to further quantitative easing in his Senate testimony on Thursday may have been more than “posturing.” I am rather certain that the Chairman, like me, has fully read through Wednesday’s release of the Beige Book.

Joe Terranova
Revised June 2012 Calendar

6/6/2012
Check out Joe Terranova's Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events.

Kayne Anderson Rudnick Investment Management
June Market Reality Check

6/4/2012
Two months into the second quarter, the CBOE Volatility Index (VIX), a measure of investor fear, has risen from the mid teens at the end of March to the mid 20’s of late.

Joe Terranova
The Table Setter: U.S. Jobs Report

6/1/2012
This morning the Labor Department delivered the following disappointing payroll report for the month of May.

Joe Terranova
The Table Setter: Global Manufacturing Figures

6/1/2012
This morning’s 10 a.m. U.S. release of the Institute for Supply Management’s (ISM) Manufacturing index completed a dizzying eight-hour period of global manufacturing data releases.

Joe Terranova
The Table Setter: China PMI

6/1/2012
On Thursday evening, May 31, the China Purchasing Managers’ Index (PMI) for the month of May was reported at 50.4, down from last month’s 53.3 and below the consensus forecast of 52.0.

Joe Terranova
June 2012 Monthly Calendar

5/31/2012
Check out Joe Terranova's Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events.

Newfleet Asset Management
Outlook positive for bank loans

5/29/2012
Bloomberg recently reported that investors poured $729 million into U.S. floating rate bank loan funds in April, based on preliminary data from research firm EPFR Global – the largest inflows to the sector in 11 months.

Joe Terranova
A Buyer's Strike

5/24/2012
Recent characterizations of the market suggest that this week’s price action is a global asset liquidation with the intent to raise and preserve cash holdings.

Joe Terranova
The 4 Most Important Charts Right Now

5/18/2012
The current S&P 500 Index (SPX) 8.3% correction will not be arrested without the 4 catalysts shown in the charts below finding stabilization.

Joe Terranova
Correction Cheat Sheet

5/18/2012
Since the S&P 500 Index (SPX) Lehman credit crisis trough at 666.79 on March 6, 2009

Duff & Phelps Investment Management Co.
Too Late for REITs?

5/17/2012
REIT equities – public companies that invest in real estate properties – started to gain traction.

Joe Terranova
Facts about Greece to Consider

5/15/2012
Political developments in Greece over the past eight days have placed the eurocurrency back in a vulnerable position and elevated the stress within European sovereign credit markets.

Joe Terranova
PBOC cuts Bank Reserve Ratio Requirement (RRR)

5/14/2012
On Saturday, May 12, the People’s Bank of China reduced the Reserve Ratio Requirement (RRR) for banks by...

Joe Terranova
Time To Dabble In Natural Gas

5/9/2012
One of the worst kept American secrets is the tremendous social opportunity the usage of natural gas would be for both American enterprise and consumers.

Joe Terranova
April Jobs Report

5/4/2012
Consistent with the April 19 “Initial Jobless Claims” blog update, my expectations for “weather payback” did, in fact, negatively impact the April jobs report, once again.

Joe Terranova
Energy Update

5/4/2012
Back in my February 1, 2012 blog, I downgraded energy from overweight back to market weight.

Joe Terranova
Gridlock Drives the U.S. to the Fiscal Cliff

5/3/2012
Recent economic data from across the pond has confirmed my 2012 expectations for Europe – both Spain and the United Kingdom (U.K.) are back in recession.

Joe Terranova
Lousy European Data

5/2/2012
Consistent with the trading environment for April, this morning’s lousy European economic data is positioning the market to reverse the favorable conditions traced out with yesterday’s U.S. ISM Manufacturing.

Joe Terranova
CHINA PMI

5/1/2012
On Monday evening, April 30, the China Purchasing Managers Index (PMI) was released at 53.3, up from last month’s 53.1, and consistent with expectations for a 53.3 reading.

Joe Terranova
US ISM Manufacturing

5/1/2012
On Tuesday morning, May 1, the Institute for Supply Management reported its Manufacturing Index for April at 54.8 – well ahead of last month’s 53.4 and surprisingly higher than the estimates for a 53.

Joe Terranova
May 2012 Monthly Calendar

5/1/2012
Check out Joe Terranova's Interactive Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events.

Joe Terranova
Market Update

4/26/2012
Just two trading sessions remain in April, a month which began by establishing a nearly 4-year high on April 2 for the S&P 500® Index (SPX) of 1422.38.

Joe Terranova
Earnings Season to Date

4/23/2012
As of the close of business on Friday, April 20, 2012, the S&P 500® Index (SPX) ended the day at 1378.53 – up 9.62% year to date

Joe Terranova
Third Time’s The Charm

4/23/2012
In 2010 and 2011, the equity markets came out of the gates relatively strong, only to pause in the second quarter.

Joe Terranova
Initial Jobless Claims

4/19/2012
Initial jobless claims for the week ending April 14 (as reported on April 19)

Joe Terranova
April Showers

4/16/2012
As of the close on Friday, April 13, 2012, the S&P 500® Index (SPX) has now corrected 3.7% from the four-year high established on April 2, 2012 at 1422.38.

Joe Terranova
U.S. Labor Report – The Game Just Changed

4/6/2012
On Good Friday morning, April 6, one of my fears for continued capital market appreciation was realized.

Joe Terranova
Spain

4/5/2012
Global markets awakened Wednesday morning, April 4, to the news that the eurozone’s fourth largest economy...

Joe Terranova
S&P 500 Index Technical Formation

4/5/2012
The S&P 500 Index (SPX) closed on Monday, April 2, at...

Joe Terranova
China PMI at One Year High

4/2/2012
Chinese manufacturing, measured by end-of-month PMI, rose to its highest level in one year, and was reported at 53.1 on Saturday evening, March 31, 2012.

Joe Terranova
April 2012 Monthly Calendar

4/2/2012
Check out Joe Terranova's Interactive Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events.

Joe Terranova
Initial Jobless Claims, Bernanke, & S&P 500® Index

3/29/2012
For the week ending March 24, 2012, initial jobless claims fell by 5,000 to 359,000.

Joe Terranova
M&A Q2 Importance

3/28/2012
In Q1 2012, global M&A experienced one of its worst quarterly activity since Q3 2009, barely nudging above $400 billion in volume to date.

Joe Terranova
Bears find a reason

3/23/2012
It hasn’t been much fun for the bears in 2012...

Joe Terranova
The Headwind of Oil

3/19/2012
Global risk assets continue to steadily appreciate, reflecting the continued modest improvements in U.S. macro data and the significant easing in European government bond yields.

Joe Terranova
Treasury yields positioned to rise

3/13/2012
On January 1, 2012, Greg Zuckerman penned an article for the Wall Street Journal that shared market insights for the upcoming year from Tobias Levkovich, Citigroup's chief U.S. equity strategist, James Paulsen, chief investment strategist at Wells Capital Management, and me.

Joe Terranova
February Non-Farm Payrolls

3/12/2012
On the morning of Friday, March 9, 2012, the February Non-Farm Payrolls report was released by the Labor Department.

Joe Terranova
Commodities Update

3/6/2012
The 2012 “annuity rally” continues, defying the overwhelmingly obvious need to incur a price correction to work off deeply overbought conditions.

Joe Terranova
U.S. ISM Manufacturing

3/1/2012
The month of March begins with a gentle reminder for investors not to become enamored with the “need for speed”.

Joe Terranova
China Data

3/1/2012
On February 24, policy makers in China lowered the Reserve Ratio Requirement (RRR) for banks by 50 basis points for the second time since the fall of 2011.

Joe Terranova
Retail Same Store Sales

3/1/2012
Consistent with my expectation that the consumer discretionary sector will continue to provide favorable opportunities for investors, the February Same Store Sales report recorded a +6.7%.

Joe Terranova
March 2012 Monthly Calendar

3/1/2012
Check out Joe Terranova's Interactive Economic Indicator Calendar for Insights into Key Economic Indicators and Key Market Events.

Joe Terranova
LTRO Round Two

2/24/2012
Next Wednesday, February 29, the European Central Bank (ECB) will conduct its second round of Long Term Refinancing Operations (LTRO).

Joe Terranova
Presidents’ Day Market Update

2/21/2012
2012 is getting off to a solid start heading into the Presidents’ Day weekend holiday.

Joe Terranova
Initial Jobless Claims

2/16/2012
Initial Jobless Claims for the week ending February 11 (as reported on February 16).

Joe Terranova
Earnings Season to Date

2/13/2012
As of the close of business Friday, February 10, 2012…

Joe Terranova
ECB Meeting Tomorrow

2/8/2012
Global central banks continue their presence in capital markets, a consistent condition since the fall of 2008.

Joe Terranova
U.S. Jobs - There Are No Holes!

2/3/2012
This morning, the Labor Department released its January labor report.

Joe Terranova
S&P 500® Index Technical Picture

2/2/2012
The first month of 2012 traced out a solid foundation as the S&P 500 Index rose from 1257.60 to 1312.41 – a gain of 4.35%

Joe Terranova
China PMI

2/1/2012
The China Purchasing Managers’ Index (PMI) rose to 50.5 for the month of January, maintaining above the contraction/expansion line of 50.

Joe Terranova
Energy Back to Market Weight

2/1/2012
During the 2011 calendar year I suggested two weighting adjustments in the energy sector.

Joe Terranova
U.S. ISM Manufacturing

2/1/2012
The U.S. Institute for Supply Management (ISM) Index was reported at 54.1, up from 53.1 last month.

Joe Terranova
Mixed Data and the "All In" Fed

1/26/2012
On the morning of Thursday, January 26, some mixed economic data was released domestically.

Joe Terranova
Importance of Caterpillar (CAT)

1/26/2012
I often refer to the earnings, guidance, and management commentary from Caterpillar (CAT) as a critical indicator for potential global growth.

Joe Terranova
Markets & Earnings to Date

1/23/2012
Over the first 13 trading days of 2012, the S&P 500® Index has advanced 4.59%.

Joe Terranova
First FOMC Meeting of 2012

1/20/2012
The first Federal Open Market Committee (FOMC) meeting will be held next week

Joe Terranova
S&P Downgrades Europe

1/18/2012
At the end of last week, Standard & Poor’s downgraded the long-term credit ratings on nine sovereigns while affirming the ratings on seven other eurozone nations.

Joe Terranova
JPM Earnings

1/13/2012
A strong start to 2012 for the financial sector has surprised the market.

Joe Terranova
Not So Fast

1/12/2012
Markets have come out of the gates with a healthy appetite for risk assets.

Joe Terranova
U.S. Jobs Report

1/9/2012
December’s nonfarm payroll report was slightly better than expected buoyed by seasonal December demand for temporary workers

Joe Terranova
Here Comes the First 2012 U.S. Bond Auction

1/9/2012
The week of January 8 presents the first 2012 U.S. government bond auctions.

Joe Terranova
Global PMIs & U.S. ISM

1/4/2012
The first trading day of the year in the U.S. witnessed a strong bid for risk assets buoyed by better-than-expected European PMIs and U.S. ISM Manufacturing.

Joe Terranova
China PMI kicks off 2012 Investing Year

1/3/2012
China Purchasing Managers’ Index (PMI) reported a 50.3 for the month of December

Past performance is not a guarantee of future results.

Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the author and not necessarily the opinions of Virtus, its affiliates or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specific client guidelines and restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable, but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.