What's the cost of Russia's decision to abandon the Black Sea Initiative deal with Ukraine? Take a deep dive into the repercussions with Chief Investment Officer, Megan Horneman, as we tackle the thorny issue in this episode of Markets with Megan. Brace yourself for an eye-opening discussion on the potential strain this move puts on Ukraine, one of the biggest exporters of grain, fertilizer, oil, and seed, and the adverse ripple effects on lower-income nations and emerging markets that depend heavily on these resources. 

Feel the pressure mounting as we explore the sudden surge in wheat prices and the resulting impact on inflation, especially food inflation. Megan enlightens us on the global impact this situation could have on farmers across the world who rely on grains and fertilizers for their operations and animal feed. Discover the strain on central banks, the possible measures they may have to resort to in such a scenario, and the potential of a secondary deal. Tune in for an enlightening discourse as we dissect current market trends and global economic happenings in light of these developments. We'd love to continue the conversation with you, so email us your thoughts and questions at podcast at verdance.com!

https://youtu.be/gVFfisWG-bU

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Ready to navigate the intriguing twists and turns of the housing market? With Megan Horneman, our Chief Investment Officer at Verdence Capital Advisors, we step into the world of housing data, where things aren't always what they seem. Megan uncovers the reasons behind the rising trend in home builder sentiment, ignited by the shortage of existing homes available for sale. She explains why homeowners clutch their low-interest rate mortgages tightly, unwilling to step into the realm of 7% mortgage rates.

The plot thickens as Megan delves into the June building permits data - a key indicator for construction. The numbers might be a touch disappointing, but Megan urges us not to view this as a sign of a broader trend. She attributes the dip to high interest rates and a lack of inventory, rather than a housing market crisis. Further, she emphasizes that the puzzles of the housing market won't derail her economic growth outlook. Follow along with us on this journey through the housing market - send in your thoughts, questions, and feedback to [email protected].

https://youtu.be/ve0easoCDFw

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Have you ever contemplated the resilience of consumer spending in a slowing economy? Prepare to be enlightened as we explore this conundrum with Megan Horneman, our Chief Investment Officer. Megan takes us on a journey through the latest retail sales report for June, illuminating the surprising strength of consumer spending, particularly in discretionary items like furniture and electronics. She further sheds light on the significant increase in internet shopping during this period. 

However, this journey isn't just about the sunny side. Megan issues caution, reminding us that one month's data doesn't set a trend. She ventures into the stormy seas of mounting credit card debt, high credit card rates, and the looming dread of repaying student loans. Couple these with an economy that's losing steam, and we could see a squeeze on consumers in the coming months. Megan also raises thought-provoking points about the retail sales report, notably its lack of inflation adjustment, which paints a slightly different picture of real personal spending. Join Megan for this insightful economic analysis and let us know your thoughts and queries via [email protected].

https://youtu.be/K8iQzWW_sbo

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

This riveting episode features the keen insights of Megan Horneman, Chief Investment Officer for Verdence Capital Advisors. Brace yourselves as we dive headfirst into the rollercoaster ride known as the earnings season. Sure, the financial sector has outperformed expectations, but Megan cautions us that there's more lurking beneath the surface. 

Ever wondered what Citigroup's alarming trend of increased credit card debt and delinquencies signals about the health of the economy? Well, it's time to pull back the curtain and reveal the hidden truths in the financial sector. With higher interest rates benefiting banks' net interest margins, the challenges faced by consumers in the wake of rising inflation are coming to the forefront. Stay tuned as we continue to decode the economic landscape through more earnings reports in the weeks ahead. Questions or comments? Don't be shy, reach out!

https://youtu.be/gdKdUvdRvXU

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Episode 021: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer of Verdence Capital Advisors, provides insightful economic analysis. In this episode, Megan discusses the latest economic data, focusing on inflation and its impact on the Federal Reserve's interest rate decisions.

This week, the economic reports on both consumer and producer inflation revealed positive news. The inflation figures came in lower than anticipated by economists, indicating a softening of inflationary pressures at both levels. However, Megan emphasizes that these numbers do not alter the Federal Reserve's plan to hike interest rates this month.

To understand the Fed's course of action, three critical factors are under their scrutiny: wage inflation, service inflation, and housing inflation. While there are signs of improvement in all three areas, they remain elevated beyond the Fed's comfort level. As a result, Megan predicts that the Fed will likely raise interest rates one more time. The situation will continue to evolve leading up to the Fed's next meeting in September, but currently, it does not alter their trajectory, and they still have more work to do before declaring the end of the tightening cycle.

Stay informed and gain valuable insights as Megan delves into the intricacies of economic data. If you have any questions or feedback, please don't hesitate to reach out to us at [email protected]. Thank you for joining us on this episode of "Markets with Megan."

https://youtu.be/HPnMd8nfD5M

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Episode 019: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer at Verdence Capital Advisors, provides insightful economic analysis. In this episode, Megan dives into the latest market developments and their impact on investors. Today, she discusses a significant market-moving day and the surprising jobs report. With job additions exceeding expectations, this report sets the stage for the upcoming monthly unemployment and labor market report. Join us as Megan shares her expertise and explores the implications of this report on market sentiment. Discover the reasons behind the recent market sell-offs, driven by the Federal Reserve's hawkish rhetoric and indications that they may not be done. Megan also discusses the effects on equity and bond markets, including rising interest rates and their potential impact on investment strategies. While the job market showcases positive numbers, it's important to remember that it's a lagging indicator. Gain valuable insights and stay informed about the economic outlook for the rest of this year and the first half of next year. Tune in after tomorrow's big report for further analysis and experienced commentary. If you have any questions or comments, please feel free to reach out to us at [email protected]. Thank you for joining us on this episode of "Markets with Megan"!

https://youtu.be/Ox9nu2B4MDw

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Episode 018: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer at Verdence Capital Advisors, provides insightful economic analysis. In this episode, we dive into a Supreme Court decision that has significant implications for economic growth throughout the year. The Supreme Court recently overturned Biden's student loan forgiveness program, affecting approximately 40 million Americans carrying a staggering $2 trillion in student loans. Join us as we explore the impact of this decision on individuals and the economy as a whole.

With the program no longer in effect, student loan borrowers will have to resume paying an average of $500 per month, a substantial financial commitment. This change is likely to take effect later this summer, causing young Americans and anyone with student loans to adjust their budgets accordingly. In fact, our calculations suggest that this shift in repayment could potentially shave off half to one percent of the GDP.

The consequences extend beyond individual borrowers. From a consumer standpoint, we anticipate a decrease in discretionary spending, leading to implications for various sectors. For instance, we have observed declines in apparel and luxury goods within the stock market, reflecting market expectations of reduced consumer spending.

Moreover, we are already witnessing a softening in personal spending, even prior to the implementation of the student loan repayment. This adds further concerns regarding economic growth for the remainder of the year.

Stay tuned as we closely monitor the developments and provide you with updated information. If you have any questions, feedback, or comments, please don't hesitate to reach out to us at [email protected]. Thank you for joining us on this episode of "Markets with Megan."

https://youtu.be/u--vCsj9MNY

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Episode 020: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer of Verdence Capital Advisors, provides insightful economic analysis. In this episode, Megan follows up on yesterday's podcast, which served as a prelude to the jobs report. Today, the official jobs report was released, reflecting some weaknesses seen in other labor market indicators. The report reveals the addition of 209,000 jobs, slightly below expectations and significantly lower than the previous ADP report. Join us as Megan breaks down the details and analyzes the implications. Despite the overall weaker job report, the Federal Reserve will focus on the declining unemployment rate and the rise in average hourly earnings, an indicator of inflation. With average hourly earnings increasing over 4 percent year-over-year, it is likely that the Federal Reserve will raise rates in July. However, there are underlying weaknesses, such as a decline in temporary workers and downward revisions to prior months. The Fed's approach may remain data-dependent. Stay tuned for further insights on inflation indicators to gain a better understanding of their September actions. The equity markets are responding with mixed sentiments, as this report offers both bearish and bullish elements. Megan anticipates continued labor market weakness throughout the year, making a recession in the next 12 months increasingly probable. For questions or comments, please reach out to us at [email protected]. Thank you for joining us on this episode of "Markets with Megan"!

https://youtu.be/XKJyFqmn7Jk

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Are you ready to dissect the recent jobs report with the precision of a seasoned financial analyst? Join us in a riveting conversation as we welcome returning guest Megan Hornemann, the Chief Investment Officer of Verdens Capital Advisors. We delve into the nitty-gritty, analyzing the shortfall of the newly added jobs against expectations and the previous ADP report. We also take a look at the darker side of the picture that emerges from the downward revision of payrolls from the past two months. Yet, amidst this, we discover the sliver of silver lining in the lowering of the unemployment rate and the steady growth seen in average hourly earnings.

What does the future hold for the Federal Reserve in light of these revelations? Will we see a rate increase in July or will there be further weakness in the labor market? As we grapple with these questions, we share our thoughts and predictions, providing you with valuable insights to navigate the current economic landscape. We stay committed to exploring the balance between the bearers and the bulls, and look at the possibility of a looming recession in the next 12 months. Whether you're a financial whizz or just curious about the labor market, this episode promises to be an enlightening discussion. And remember, we are eager to hear from you at podcasts at verdancecom with your questions or comments. Get ready to be informed and engaged!

https://youtu.be/XKJyFqmn7Jk

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Episode 012: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer at Verdence Capital Advisors, provides insightful economic analysis. Today, Megan discusses the recent Federal Reserve meeting. As expected, the Fed decided to pause rate hikes, but the market reacted negatively due to projections of potential future rate hikes instead of cuts. The equity market's optimism about rate cuts is being challenged as inflation remains a concern. The Fed emphasized the need for inflation to decrease in areas like housing and the service sector. The July meeting is considered important, as rate adjustments may occur. The Fed's hawkish tone aims to manage expectations and reduce equity market optimism. Contact [email protected] for any questions or feedback.

https://youtu.be/kfXfAh2gtUQ

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...