HCWE publications are available to clients and the public. Clients may request copies of all publications at any time. Students, researchers and the public may access legacy publication (more than two years old). See the following documents for recent and legacy publication lists:
Publication Highlights: Past month
Publications to date for current year: 2020
Legacy publications from 1992: Composite
Call: US 978-468-4575
 "At this stage in the economic recovery low-grade and distressed bonds offer similar returns to stocks, despite a predictably high rate of default. But they are much less volatile than stocks." Tactical Asset Selector – 10/20 |
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~ R. David Ranson, President and Director of Research HCWE & Co. |
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 Tactical Asset Selector |
| Slow but smooth: the recovery in high-yield bond prices |
| At this stage in the economic recovery low-grade and distressed bonds offer similar returns to stocks, despite a predictably high rate of default. But they are much less volatile than stocks. |
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Economy Watch |
| How forecasters got the pandemic economy so wrong |
| Unprecedented circumstances create opportunities for extreme errors of judgement. The forecasting consensus could hardly have been more wrong about the ability of the US economy to come back from mandatory shutdowns. |
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Fixed-Income Barometer |
| "Market forecasts" for the coming twelve months as of November 1, 2020 |
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International Barometer |
| "Market forecasts" for the coming twelve months as of November 1, 2020 |
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Synopsis |
| Briefing Points on the Global Market Outlook, October 2020 |
| The price of gold has been falling back from its peak as economic and geopolitical anxiety declines. Credit spreads are still higher than they were before the pandemic crisis. But the stock market achieved its complete recovery many weeks ago. With prices back near an all-time record level, a normal tendency to be volatile has returned. |
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