All Market Views by Stephen Auth

Market Memo: 'A Five Ones World' 
Jul. 8, 2016 :: Stephen Auth
Uncertainty and headwinds could lead to euro-dollar-pound parity, 1% 10-year yield and a Fed that is one and done. Caution remains the word of the day.
Market Memo: Thunder in those clouds; staying in the barn for now 
Jun. 24, 2016 :: Stephen Auth
More rain will follow; we are maintaining our cautious stance.
Market Memo: Recent trip to Europe confirms 'cloudy with a chance of sun' forecast 
Jun. 14, 2016 :: Stephen Auth
Observations while in Europe reaffirm Federated's cautious stance.
Market Memo: Cloudy with a chance of rain (or sun) 
May 24, 2016 :: Stephen F Auth
As it awaits clearer skies on cloudy issues, Federated continues to hold off on adding to equities in its stock-bond portfolio model.
Market Memo: The yellow flag's still out on stocks 
Apr. 22, 2016 :: Stephen F Auth
The impressive late-winter/early-spring equity rally aside, several outstanding issues could prompt a summer swoon. As a result, we recommend avoiding aggressive buying at this time.
Market Memo: Reiterating our cautious stance 
Mar. 22, 2016 :: Stephen F Auth
The arrival of spring is a good time to refresh our outlook.
Market Memo: Lowering year-end target; cautious stance reiterated 
Feb. 19, 2016 :: Stephen F Auth
Federated's asset-allocation committee shifts to an equity underweight in its model portfolio on concerns conditions will get worse before they get better.
Market Memo: Weakening environment favors defense 
Feb. 2, 2016 :: Stephen F Auth
Federated's asset-allocation committee lowers stock-bond model to neutral on belief near-term factors more likely to send equities down than up.
Equity Outlook: Year-end S&P target reset at 2,150 on China, oil, volatility; longer 2,500 target intact 
Jan. 8, 2016 :: Stephen F Auth
Uncertainty and angst over oil, China policy missteps and earnings are feeding the selling frenzy for now, but the fundamentals are better than the headlines, and eventually they should win out.
2016 Outlook: Expecting a steady and profitable year ahead for equity investors 
Dec. 4, 2015 :: Stephen F Auth
2015's seesaw should give way to a friendlier 2016 equity market on higher earnings, higher multiples, solid growth and stabilizing oil
Market Memo: Don't fade this rally 
Nov. 2, 2015 :: Stephen F Auth
Don't let the bears get in the way of a slew of macro and market data that are pointing to a continuing, and strengthening, rally
Market Update: Year-end rally scenario still on track 
Oct. 12, 2015 :: Stephen F Auth
Fed, economy, China, biotech and cyclicals sending positive market vibes. Muted reaction to bank earnings would be icing on the cake.
Market Memo: Setting up for a year-end rally—but not quite yet 
Sept. 24, 2015 :: Stephen F Auth
The market needs to be convinced the news is becoming less worse out of China. When it does, we expect this slumbering secular bull to wake up
Market Memo: The world isn't ending 
Aug. 25, 2015 :: Stephen F Auth
The drama over China is creating opportunities for long-term investors willing to wait out the storm
Market Memo: China's storm clouds have a silver lining 
Aug. 13, 2015 :: Stephen F. Auth
As negative as recent headlines about China appear, we expect investors to begin refocusing on strong U.S. fundamentals driving markets higher by fall.
Market Memo: Still bullish and still expecting strong second half 
Aug. 3, 2015 :: Stephen F. Auth
Despite noise over China and oil, the economy looks poised to accelerate and to potentially drive the S&P 500 to our year-end 2,350 target