Oil: Boom or Bust (July 2008)
On June 30, 1998, the price of oil closed at $14.26 per barrel and gasoline averaged $1.06 per gallon nationwide. In the last ten years, oil prices dropped only once (2001), but rose by 30% or more in six of those years (1999, 2002, 2004, 2005, 2007, and 2008). During the second quarter, the price of oil hit a record high of $145 a barrel, up almost 50% from the beginning of the year. Can this boom continue, or is this bubble about to burst? Click here to read CCM's Taylor Graff's report on this topic. For a mailed copy, contact CCM.
The Fate of Fannie Mae and Freddie Mac (July 2008)
The stock prices of both Fannie Mae and Freddie Mac, the two largest Government Sponsored Enterprises (GSE), have fallen more than 85%, prompting government action. On July 13, the Federal Reserve announced that it will give GSEs access to the Discount Window and the Treasury Department will ask Congress to increase GSE credit lines with the Treasury. The Federal Reserve is also seeking authorization for the U.S. Government to buy equity in Fannie Mae and/or Freddie Mac. Congressional approval is highly likely. Click here to read the full article.
Municipal Market Update for 2Q 2008 (July 2008)
Steve Shutz, CFA, Vice President, has analyzed the municipal market for the past quarter. His report, found here, includes a market recap, as well as what it means for CCM clients.
Multi-Asset Class (MAC) Performance During Oil Bear Markets (May 2008)
Taylor Graff, Senior Assoiciate, researched the MAC strategy's potential performance in oil bear markets. Given its allocation to other non-correlated asset classes, it was determined the the MAC strategy still remains competitive. Click here to read the full report. If you would like to receive a hard copy, please contact CCM.
