---
title: The Independent Market Observer | Outlook. Opinion. Insight. | Commentary (44)
description: Commentary | Commonwealth’s chief investment officer, Brad McMillan, provides insight on the economic, market, and political events of the day—both domestically and on a global scale. (44)
---

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[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Inflation/Inflation-b.jpg)](https://blog.commonwealth.com/independent-market-observer/with-interest-rates-up-should-investors-search-for-yield)

## [With Interest Rates Up, Should Investors Search for Yield?](https://blog.commonwealth.com/independent-market-observer/with-interest-rates-up-should-investors-search-for-yield)

April 23, 2021

The 10-year Treasury yield has been climbing steadily since hitting a low of 0.5 percent in August 2020. This week, as of April 20, it was close to 1.56 percent. But the rise in rates hasn’t been equal across the broad spectrum of fixed income instruments. If you’re an investor who hasn’t made any changes to your fixed income portfolio since last August, it’s likely your exposures have changed. As a result, your investments may not be delivering the benefits you’re looking for. To assess the situation, take a look under the hood at your fixed income portfolio. But first you need to understand what current interest rates are telling us—and how inflation is involved.

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[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Jobs/employment-a.jpg)](https://blog.commonwealth.com/independent-market-observer/the-winners-and-losers-of-the-american-jobs-plan)

## [The Winners and Losers of the American Jobs Plan](https://blog.commonwealth.com/independent-market-observer/the-winners-and-losers-of-the-american-jobs-plan)

April 22, 2021

Infrastructure is the backbone of any healthy economy, and America’s is in desperate need of refurbishment and investment. Indeed, President Biden campaigned on a promise to revitalize our aging infrastructure and to invest heavily in clean energy. Biden recently took the first step in that direction by introducing the $2.3 trillion American Jobs Plan. Let’s talk about this plan’s winners and losers, as well as what it could mean for your investment portfolio.

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/the-winners-and-losers-of-the-american-jobs-plan) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/the-winners-and-losers-of-the-american-jobs-plan#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Stock-Markets/stock-market-d.jpg)](https://blog.commonwealth.com/independent-market-observer/whats-trending-in-target-date-funds)

## [What’s Trending in Target-Date Funds?](https://blog.commonwealth.com/independent-market-observer/whats-trending-in-target-date-funds)

April 21, 2021

*Today's post is from Michael Geraci, supervisor, retirement consulting investment services.*

Last year was a challenging one for the financial markets, resulting in volatility for most investment products. In fact, the coronavirus pandemic presented the biggest test for most asset allocation products since the 2008 financial crisis. 401(k) investments were no exception, specifically target-date funds.

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/whats-trending-in-target-date-funds) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/whats-trending-in-target-date-funds#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Intl-Markets/intl-markets-c.jpg)](https://blog.commonwealth.com/independent-market-observer/finding-opportunity-in-growth-and-value)

## [Finding Opportunity in Growth and Value](https://blog.commonwealth.com/independent-market-observer/finding-opportunity-in-growth-and-value)

April 13, 2021

*Today's post is from Jim McAllister, director, equity research.*

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/finding-opportunity-in-growth-and-value) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/finding-opportunity-in-growth-and-value#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Healthcare/healthcare-d.jpg)](https://blog.commonwealth.com/independent-market-observer/medical-and-economic-news-continues-to-demonstrate-improvements)

## [Medical and Economic News Continues to Demonstrate Improvements](https://blog.commonwealth.com/independent-market-observer/medical-and-economic-news-continues-to-demonstrate-improvements)

April 9, 2021

Two weeks ago, after several weeks of significant improvement, the medical news started to worsen as case growth and positive test rates ticked back up. Whether this situation might signal the start of another wave of infection growth was an open question. The good news is that the answer looks to be no. Case growth, while slightly above recent lows, has stayed steady despite the continued reopening of the economy and the increasing spread of more contagious variants of COVID-19. While the battle against the pandemic continues, vaccinations are also continuing. They should end up choking the virus off before it gets to a significant fourth wave. The medical risks are still real, but they are lower than they were two weeks ago, and they’re dropping every week.

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/medical-and-economic-news-continues-to-demonstrate-improvements) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/medical-and-economic-news-continues-to-demonstrate-improvements#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Book-Review/book-review-b.jpg)](https://blog.commonwealth.com/independent-market-observer/the-importance-of-investing-in-financial-literacy)

## [The Importance of Investing in Financial Literacy](https://blog.commonwealth.com/independent-market-observer/the-importance-of-investing-in-financial-literacy)

April 8, 2021

*“The number one problem in today’s generation and economy is the lack of financial literacy**.” ***—Alan Greenspan

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/the-importance-of-investing-in-financial-literacy) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/the-importance-of-investing-in-financial-literacy#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Look-Back-Ahead/look-back-ahead-b.jpg)](https://blog.commonwealth.com/independent-market-observer/looking-back-at-the-markets-in-q1-and-ahead-to-q2-2021)

## [Looking Back at the Markets in Q1 and Ahead to Q2 2021](https://blog.commonwealth.com/independent-market-observer/looking-back-at-the-markets-in-q1-and-ahead-to-q2-2021)

April 7, 2021

The first quarter looks to be the turning point, both for the pandemic here in the U.S. and for the economic damage it has caused. While risks still remain, especially in the short term, the significant progress we made in the first two months of the year started coming to fruition in March, signaling that we are through the worst of it.

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/looking-back-at-the-markets-in-q1-and-ahead-to-q2-2021) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/looking-back-at-the-markets-in-q1-and-ahead-to-q2-2021#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Jobs/employment-a.jpg)](https://blog.commonwealth.com/independent-market-observer/its-all-about-jobs)

## [It’s All About Jobs](https://blog.commonwealth.com/independent-market-observer/its-all-about-jobs)

March 31, 2021

We have had a lot of good economic news recently, including the significant bounce in consumer confidence reported by the Conference Board. Consumer confidence rose by more than 20 percent last month, to the highest level since September, before the third wave. According to that increase, people are feeling much better about the economy and their place in it.

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/its-all-about-jobs) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/its-all-about-jobs#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Stock-Markets/stock-market-a.jpg)](https://blog.commonwealth.com/independent-market-observer/what-does-the-archegos-blowup-mean-for-the-markets)

## [What Does the Archegos Blowup Mean for the Markets?](https://blog.commonwealth.com/independent-market-observer/what-does-the-archegos-blowup-mean-for-the-markets)

March 30, 2021

I wanted to use the title “Leverage, Margin Calls, and Stock Prices, Oh My” here. But I decided to go with the more specific title so readers would actually know what I was taking about. Those are the real themes, though, as the hedge fund/private family office Archegos is simply the latest iteration of an old and sad story.

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/what-does-the-archegos-blowup-mean-for-the-markets) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/what-does-the-archegos-blowup-mean-for-the-markets#comments-listing)

[![](https://blog.commonwealth.com/hubfs/Rebrand-Blog-Images/IMO-images/Healthcare/healthcare-c.jpg)](https://blog.commonwealth.com/independent-market-observer/economic-improvement-continues-despite-rising-medical-risks)

## [Economic Improvement Continues Despite Rising Medical Risks](https://blog.commonwealth.com/independent-market-observer/economic-improvement-continues-despite-rising-medical-risks)

March 26, 2021

For the first time in several weeks, the big picture on the medical front has gotten worse. Case growth and positive test rates have ticked back up as the economy has reopened. While the change is relatively small so far, it is a reversal of previous improvements and signals that both reopening and the spread of more contagious variants are outpacing the positive effects of vaccinations. Faster spread has therefore moved from a potential risk to an actual one.

[Continue reading →](https://blog.commonwealth.com/independent-market-observer/economic-improvement-continues-despite-rising-medical-risks) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/economic-improvement-continues-despite-rising-medical-risks#comments-listing)

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- [April 2015 (23)](https://blog.commonwealth.com/independent-market-observer/archive/2015/04)
- [March 2015 (23)](https://blog.commonwealth.com/independent-market-observer/archive/2015/03)
- [February 2015 (22)](https://blog.commonwealth.com/independent-market-observer/archive/2015/02)
- [January 2015 (21)](https://blog.commonwealth.com/independent-market-observer/archive/2015/01)
- [December 2014 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2014/12)
- [November 2014 (19)](https://blog.commonwealth.com/independent-market-observer/archive/2014/11)
- [October 2014 (26)](https://blog.commonwealth.com/independent-market-observer/archive/2014/10)
- [September 2014 (22)](https://blog.commonwealth.com/independent-market-observer/archive/2014/09)
- [August 2014 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2014/08)
- [July 2014 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2014/07)
- [June 2014 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2014/06)
- [May 2014 (25)](https://blog.commonwealth.com/independent-market-observer/archive/2014/05)
- [April 2014 (23)](https://blog.commonwealth.com/independent-market-observer/archive/2014/04)
- [March 2014 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2014/03)
- [February 2014 (20)](https://blog.commonwealth.com/independent-market-observer/archive/2014/02)
- [January 2014 (23)](https://blog.commonwealth.com/independent-market-observer/archive/2014/01)
- [December 2013 (23)](https://blog.commonwealth.com/independent-market-observer/archive/2013/12)
- [November 2013 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2013/11)
- [October 2013 (27)](https://blog.commonwealth.com/independent-market-observer/archive/2013/10)
- [September 2013 (23)](https://blog.commonwealth.com/independent-market-observer/archive/2013/09)
- [August 2013 (26)](https://blog.commonwealth.com/independent-market-observer/archive/2013/08)
- [July 2013 (23)](https://blog.commonwealth.com/independent-market-observer/archive/2013/07)
- [June 2013 (22)](https://blog.commonwealth.com/independent-market-observer/archive/2013/06)
- [May 2013 (26)](https://blog.commonwealth.com/independent-market-observer/archive/2013/05)
- [April 2013 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2013/04)
- [March 2013 (24)](https://blog.commonwealth.com/independent-market-observer/archive/2013/03)
- [February 2013 (20)](https://blog.commonwealth.com/independent-market-observer/archive/2013/02)
- [January 2013 (30)](https://blog.commonwealth.com/independent-market-observer/archive/2013/01)
- [December 2012 (34)](https://blog.commonwealth.com/independent-market-observer/archive/2012/12)
- [November 2012 (39)](https://blog.commonwealth.com/independent-market-observer/archive/2012/11)
- [October 2012 (42)](https://blog.commonwealth.com/independent-market-observer/archive/2012/10)
- [September 2012 (36)](https://blog.commonwealth.com/independent-market-observer/archive/2012/09)
- [August 2012 (30)](https://blog.commonwealth.com/independent-market-observer/archive/2012/08)
- [July 2012 (31)](https://blog.commonwealth.com/independent-market-observer/archive/2012/07)
- [June 2012 (18)](https://blog.commonwealth.com/independent-market-observer/archive/2012/06)

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