'The Myth of Oligarchic Dominance in the S&P 500 Recovery Trade'
'“It’s rational that if people are looking for places to hide that they’re going to go to the areas that are weathering the storm best,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “And on days when they’re feeling more bullish about the potential for perhaps a quicker-than-expected recovery in the economy, either driven by reopening or hopes for a vaccine, that you’d go to the beaten down stuff.”' Read
'Extreme Behavior Is on Display Everywhere in the Stock Market'
'“We’ll have exciting days like yesterday and some down days when somebody’s treatment trial or vaccine trial fails,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “It’s impressive, but it’s still a bear market rally we’ve seen since March 23rd.”' Read
'The Dogs of the Market Led Stocks Higher. That Could Be a Bullish Sign'
'“It’s driven by increasing confidence that government support, particularly Fed support, is destined to be bullish,” says Dave Donabedian, chief investment officer. “Liquidity is good for markets, there may be a vaccine on the horizon , and we’re headed higher. That’s the prevailing view.”' Read
'The S&P 500 Was Stopped in Its Tracks Last Week. Here’s Why Another Drop Could Be in the Offing.'
'“The Huawei restrictions will be viewed as a shot across China’s bow,” says Dave Donabedian, chief investment officer at CIBC Private Wealth Management. “That’s going to be difficult for the market to manage over the next several months.”' Read
'Women And Wealth: Being Proactive During Times of Uncertainty And Volatility'
Senior Wealth Strategies Beth Mayfield was bylined in the article. Read
'Bloomberg Markets: The Close'
Senior Equity Trader Rebecca Babin recently appeared on Bloomberg TV (via phone). You can see her appearance at the 0:43:00 mark. Watch
"U.S.-China relations are bad and getting worse, with major ramifications for trade and investment — and the U.S.’s presidential election"
“I think there is going to be a longer adjustment process during the summer,” Dave Donabedian, chief investment officer of CIBC Private Wealth Management, told MarketWatch. Read article
"U.S. crude settles below $13/bbl as rising glut scares investors"
"No one wants to be the person holding the bag," says CIBC Private Wealth Management energy trader Rebecca Babin. "They're looking at where storage capacity is and saying it's too close to call." Read article
"Biggest Oil ETF Could Go ‘Lights Out,’ Warns Wall Street Strategist"
“The fact that there wasn’t going to be enough storage and that things could get really hairy around expiration was not a surprise,” said Babin. “But to the degree that it happened, and the speed that it happened, it was actually kind of scary.” Read article
"Sinking U.S. economy hasn’t hit bottom yet"
“I think there is going to be a longer adjustment process during the summer,” said Dave Donabedian, chief investment officer of CIBC Private Wealth Management. “The bigger question is, when those businesses reopen do their customers show up. And do workers want to come back.” Read article
"Biggest Oil ETF Could Go ‘Lights Out,’ Warns Wall Street Strategist"
"Rebecca Babin, senior energy trader at CIBC Private Wealth Management, talked to Bloomberg TV about the uncertainty regarding who might be exposed in the event that worst-case scenarios for USO come to pass.“There has been some speculation that the CME or the clearing exchanges may be somehow on the hook for that, or the ETF provider,” she said." Read article
“Oil trades near 18-year low on weakest demand in three decades”
"This OPEC deal is great and good but it doesn't help us over the next thirty days," Rebecca Babin, senior equity trader at CIBC Private Wealth Management, said by phone. "Even with the OPEC agreement, the size and timing of it is not enough to alleviate potential storage issues in the near term."
“CIBC gatekeeper tapped to lead ESG drive ”
"‘We, as a firm, believe in this, we’re committed to this and we think that it’s important to continue to expand it,’ said Tennaro of ESG and impact investing."
“17 Experts’ Predictions on When We Will Bounce Back From COVID-19”
"'David Donabedian, chief investment officer of CIBC Private Wealth Management, told MarketWatch that the economy could begin to recover this summer — though times will be tough until then. “There’s going to be a lot of bad news in the next three to four months,” he said. “It will be pretty ugly. It is sure going to feel like a recession for a while.'" Read article
“Crude dives 9% on worries cut won’t be big enough”
Senior Equity Trader Rebecca Babin was quoted in the following article. Read article
“Confusion reigns on the Fed and long-term muni purchases”
"Gary Pzegeo, head of fixed income at CIBC Private Wealth Management, said the CARES ACT lets the Fed include munis in emergency funding facilities backed by the Treasury Exchange Stabilization Fund. 'We expect the Fed to establish [a special purpose vehicle] with the Treasury first loss position, and would not be surprised if they used a strategy similar to the approach taken in the investment grade corporate market.'" Read article
“Choosing The Right Trustee”
Kimberly Bernatz was bylined in the Financial Advisor article “Choosing the Right Trustee.” Read article
“How To Spark Joy In The Lives Of Your Beneficiaries” Read article
“U.S. markets surge on Trump’s emergency coronavirus declaration after wild day of trading”
“Investors don’t know what to do,” David Donabedian, chief investment officer with CIBC Private Wealth Management, wrote in commentary Friday. “People are casting about so the period of extraordinary volatility is probably not over. Until we see more calm in the market, and better news on the path of covid-19, a sustained recovery in markets is unlikely.” Read more
“Wall Street's roller coaster week continues: March 13, 2020”
The day-to-day volatility is a sign that investors don’t know what to do,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. Read more
“Oil rebounds 10 percent from historic rout”
“Markets are rallying on signs there may be fiscal stimulus by the White House,” said Rebecca Babin, a senior equity trader at CIBC Private Wealth Management. “It’s all still so fragile and reactionary right now though.” Read more
The Wall Street Journal
“Oil prices plunge as much as 30% after OPEC deal failure sparks price war”
“'Both events – coronavirus and OPEC+ falling apart were not expected or priced into the market a month ago,' said Rebecca Babin, senior equity trader. She said the key things to watch going forward are whether or not Saudi Arabia and Russia reach a “Hail Mary” deal, and if not, how quickly U.S. supply is shut in to support prices.”
“Oil plunges 24% for worst day since 1991, hits multi-year low after OPEC deal failure sparks price war”
“'Both events – coronavirus and OPEC+ falling apart were not expected or priced into the market a month ago,' said Rebecca Babin, senior equity trader.” Read more
“Oil Climbs Near Two-Week High on Easing Coronavirus Concerns”
“The market is getting more comfortable that we’ve hit the bottom,” said Rebecca Babin, a senior equity trader at CIBC Private Wealth Management. “Oil markets have discounted the worst case and could show more resilience as long as cases outside of China are not spiking.” Read more
The Bond Buyer
“Grand Parkway more than doubles taxable deals to $1.5B”
“Bonds and stocks are in the same fog of uncertainty and investors are following the playbook used during prior flights to quality,” said Gary Pzegeo, head of fixed income at CIBC Private Wealth management. “Fixed income markets have reacted by lowering yields for higher-quality bonds and raising the odds of further Fed easing in the coming months.”
“Oil Off to Slowest Start Since 1991 With Virus Fear Spreading”
“This virus is requiring more out of the group as the demand picture gets weaker,” said Rebecca Babin, a senior equity trader at CIBC Private Wealth Management. Read more
“Effects of Weaponized Trade on Whiskey (Podcast)”
Chief Investment Officer Dave Donabedian, CFA, appeared on Bloomberg Radio. You can listen to his segment at the 00:26:00 mark. Listen
“Oil Bulls Halt 5-Week Advance as Excess Supplies Weigh on Prices”
“Given the bearish climate in the market due to oversupply, and lack of positive demand catalysts we should expect more unwinding of the long positions and increase in short-positions,” said Rebecca Babin, senior equity trader at CIBC Private Wealth Management.
“Defense stocks tear higher following Iran’s missile strikes on bases housing US troops”
"Iran does usually retaliate so the current situation brings rising uncertainty. But our view about this being a bull market has not changed," David Donabedian, CIBC Private Wealth Management's chief investment officer, wrote Friday. "Iran is something that must be watched, but investors should not overreact." Read more
The Wall Street Journal
“Oil Traders Lose Faith in Geopolitical Rallies”
“A lot of traders are selling geopolitical events,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. “If you bought any geopolitical rally last year, you were wrong.”
“What stock market investors need to know about intensifying U.S.-Iran Tensions?”
“We came into this year calling for a continuation of the equity bull market, but with a single-digit return profile and elevated volatility,” said David Donabedian, chief investment officer at CIBC Private Wealth Management, in an interview. Read more
“Oil Steadies While Traders Watch For Mideast Supply Disruptions”
“Traders are fading the rally because there are currently no barrels off the market at this time,” said Rebecca Babin, senior equity TRADER AT CIBC Private Wealth Management. Until the market sees a distribution, traders will use moves higher to take profits, she added. Read more
“The Dow Was Waiting for a Reason to Drop. The U.S. Air Strike Supplied It.”
"Even before the attack, the stock market looked like an accident waiting to happen. The S&P 500 had gained 8.5% during the last two months of 2019, and it began 2020 right where it had left off. And with the index trading at 18.2 times forward earnings, there was little cushion for investors in case something went wrong. 'If it weren’t this, it would be something else that caused the pullback,' Dave Donabedian, chief investment officer at CIBC Private Wealth Management, told Barron’s. ;A little bit of a breather here is a healthy thing.'"
“'Likely Just the Beginning': Here's What 6 Experts Are Saying About What Trump's Deadly Iran Strike Means for Already Shaken Markets”
The stock market is hot off its best annual gain since 2013, and investors shouldn't regard the new geopolitical risks as a significant threat to the record-long bull run, said David Donabedian, CIBC Private Wealth Management's chief investment officer. Read more
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