January 2020: Fixed Income Market ReviewRead More
Weekly Economic & Market Commentary: March 31st, 2020
Posted on March 31, 2020
There are few periods in history where one event has been identified as the root cause of a major market decline. We uncover this theme, as well as COVID-19's impact on the job market, in our weekly market and economic commentary.
Wilbanks Smith & Thomas Asset Management, LLC Is Joined by Virginia Capital Strategies
Posted on February 3, 2020
Wilbanks Smith & Thomas Asset Management, LLC (WST) – a Norfolk, Virginia-based wealth management and investment advisory firm – is pleased to welcome under its banner a Roanoke, Virginia-based investment management firm, Virginia Capital Strategies (VCS).
WST Commentary: 4Q 2019 Markets & Economic Update
Posted on January 29, 2020
Investors wrapped the year with a risk-on flourish largely driven by progress around US-China trade negotiations, coordinated monetary easing and an improved global economic backdrop – driving continued momentum in global equities while fixed income markets finished 4Q with modestly positive returns.
The SECURE Act: Key 2020 Provisions
Posted on January 6, 2020
On December 20th, 2019, President Trump signed into law a piece of legislation intended to strengthen retirement security, referred to as the Setting Every Community Up for Retirement Enhancement Act, or SECURE Act. WST lists key provisions that took effect on January 1st, 2020.
November 2019 - Fixed Income Market Review
Posted on December 2, 2019
Capital markets flows favored the bolder (i.e., riskier) asset classes in November, with constructive trade discussions and economic data boosting equities and corporate debt while prompting some runoff in global sovereign bonds.
Fixed Income Market Review: 3Q 2019
Posted on October 21, 2019
The quarter opened with mixed, if largely muted, results for global bonds in July before a strong August showing, as equities sold off in response to escalating trade conflicts and macroeconomic headlines that continue to upset the global growth outlook.
Global Equity Market Review: 3Q 2019
Posted on October 15, 2019
September results may have teased long-awaited equity rotations – with value topping growth, small-cap outperforming and signs of life observed in ex-US stocks – but 3Q overall evidenced the same themes and performance drivers from 2Q.
August 2019 - Global Equity Market Review
Posted on September 4, 2019
Following an overall positive result in a quiet July, August saw volatility uncorked and equity markets capitulate as the US-China Trade War escalated and investors connected the dots between worrying aspects of the global macro picture.
May 2019 - Global Equity Markets Review
Posted on June 5, 2019
As US-China trade talks unraveled in May so too did equity markets, with global stocks down 5.8%. After leading on the upswing for all of 2019, the S&P 500 (down 6.4%) underperformed developed international stocks (-4.7%). Read the full market review here.
WST Proud to Lend a Hand: YWCA Adopt-a-Room Project
Posted on May 28, 2019
On May 9th, 2019 the Wilbanks Smith & Thomas team had the pleasure of providing hands-on support for the YWCA Adopt-a-Room Project. Read more, and see the before and after transformation, by clicking here.
WST Principals Named to 2019 Inside Business Power List
Posted on May 20, 2019
WST congratulates Wayne Wilbanks and Larry Bernert for recognition in the 2019 Inside Business Power List.
April 2019 - Fixed Income Markets Review
Posted on May 15, 2019
Core bond markets in April took a breather and saw mixed results as investors continued to expand equity multiples and push risk-asset indices past all-time highs. The month proceeded without disruption to key positive themes including, but not limited to, increased optimism around economic recovery in China. Read more here.
April 2019 Global Equity Markets Review
Posted on May 7, 2019
The month of April proceeded without disruption to key positive themes including increased optimism around economic recovery in China, anticipated resolution of the U.S.-China trade conflict and perhaps most importantly, global central banks tilting highly accommodative.
WST 1Q 2019 Commentary
Posted on April 17, 2019
After enduring a 9% slide in December that led to a 14% decline for the fourth quarter, U.S. stocks began 2019 with their best January since 1987 and their best quarter since 2009. Now, with stocks having recouped almost all of last year’s declines, investors face the same questions and risks that emerged in 2018.
Inflation: What's in a Number?
Posted on April 12, 2019
In his March 20, 2019 news conference, Fed Chairman Jay Powell stated the decision of the Federal Open Market Committee (FOMC) to momentarily pause its interest rate increases. Historically, the Fed will attempt to curb inflation through interest-rate increases and vice-versa, therefore, it is significant what measure of inflation the Fed uses and the level at which it drives their policy decisions. Read more on it here.
WST Ranked Among Top Fee-Only RIAs in the US Southeast
Posted on January 17, 2019
WST is pleased to announce its recognition by InvestmentNews.
US Labor Market: A Bright Star, But Is It Burning Too Hot?
Posted on January 14, 2019
While overall highly positive for the US economy, the condition of the labor market does drive mixed impacts across other metrics of economic health, including wage growth, productivity, inflation and interest rates.
WST 4Q 2018 Commentary
Posted on January 8, 2019
As the fourth quarter progressed, the challenges and concerns increased in visibility and severity, leading investors to reassess risk exposures and ratchet down return expectations. Volatility exploded, and prices fell in virtually all asset classes except bonds as the market reacted to daily and even hourly news bytes. Read more on 4Q 2018 here.
November 2018 Fixed Income Markets Review
Posted on December 5, 2018
Fixed income broad-markets offered a strong showing throughout a choppy November. While risk-off sentiment periodically got the better of equities during the month, core US bonds rose steadily and emerging markets were the overall leader.
WST Capital Management Named Top Guns Manager for 3Q 2018
Posted on November 27, 2018
Informa Investment Solutions names WST Capital Management Top Guns Manager for the third quarter of 2018.
October 2018 Global Equity Markets Review
Posted on November 2, 2018
After a placid, positive 3Q, October opened the floodgates for global equity markets and delivered the second 10% correction in 2018. Defensive assets, styles and sectors benefitted from a risk-off rotation, while the month exacerbated painful trends in emerging markets.
WST 3Q 2018 Commentary
Posted on October 15, 2018
Investors set aside concerns about Fed tightening, rising interest rates, trade wars and deficit spending, focusing instead on the strength of the domestic economy and robust corporate profit growth in 3Q of 2018. The U.S. economic recovery is in its 10th year, and the current expansion is the second longest since World War II.
VSCPA Specialized Knowledge Day: Presentation by Paul Ferwerda, CFA
Posted on October 5, 2018
VSCPA will be holding their Specialized Knowledge Day; a day-long program that will take place at the Chesapeake Conference Center. WST is pleased to feature in this year's line-up of speakers. Find registration information here.
WST Capital Management Named Top Guns Manager by Informa Investment Solutions
Posted on September 5, 2018
WST Capital Management, a division of Wilbanks Smith & Thomas, has been awarded a Top Guns designation by Informa Investment Solutions’ PSN manager database.
U.S. Consumer Confidence Climbing Towards 18-Year High
Posted on August 31, 2018
In August the Index hit its highest level since October 2000, but the data shows higher confidence in current conditions than in the immediate future.
Wilbanks, Smith & Thomas Named One of P&I’s Largest Money Managers
Posted on July 24, 2018
Wilbanks, Smith & Thomas Asset Management, LLC (WST), Virginia-based asset management firm, is pleased to announce recognition by Pensions & Investments (P&I) in recently-published 45th annual Largest Money Manager Special Report.
WST 2Q 2018 Commentary
Posted on July 15, 2018
With optimism about positive economic fundamentals tempered by concerns about a potential trade war, interest rates and corporate earnings, financial markets responded to new and evolving challenges in the second quarter. Our quarterly economic and markets commentary includes a discussion of key themes and factors that drove higher volatility and wider dispersion of asset class returns in 2Q.
Milestones Without Context? The 10-year Treasury Yield Hits 3%
Posted on May 8, 2018
In late April, headlines balked at a US 10-Year Treasury yield above 3% for the first time in several years. Is that threshold even significant, and what might it mean for equities?
Cybersecurity Insights & Best Practices
Posted on February 12, 2018
At WST, our cybersecurity efforts are robust, constantly evolving and a critical focus for our firm. However, because identity theft lays the groundwork for fraud, we believe client education is the best defense against cybercrime resulting in financial loss.
WST Capital Management Named Top Guns Manager by Informa Investment Solutions
Posted on December 8, 2017
WST Capital Management, a division of Wilbanks Smith & Thomas Asset Management LLC, has been awarded a Top Guns designation by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers. The firm received Top Gun recognition for Credit Select Risk-Managed in the ETF US Fixed
WSTCM Credit Select Risk-Managed Fund Recognized by Morningstar
Posted on November 16, 2017
Norfolk, Virginia-based investment manager Wilbanks Smith & Thomas Asset Management LLC (WSTAM) is pleased to announce positive recognition of its WSTCM Credit Select Risk-Managed Fund (“the Fund”) by Morningstar, the noted fund research provider.
Just the Facts, Ma'am
Posted on November 2, 2017
When faced with making important decisions about long-term investments, we want to be confident in our sense that we can predict the future. The truth, however, is that uncertainty is part of life and also a distinct fact of investing in stock markets.
WST 3Q 2017 Quarterly Commentary
Posted on October 15, 2017
The global "bull market in everything" continued in the third quarter with stocks around the world finishing at all-time highs, bond yields hovering near all-time lows, credit spreads continuing to narrow, and private equity, debt, and real estate funds all reporting preliminary results in line with the strong returns in the public markets.
Equifax Data Breach: Information & Guidance for WST Clients
Posted on September 22, 2017
As news circulates of the recent Equifax data breach, our goal is to ensure you are aware of the situation and equipped with accurate information and trusted risk management resources.
Trying to Reason with Hurricane (and Earnings) Season
Posted on August 22, 2017
The Atlantic hurricane season lasts for six months, approximately from early to June to late November, with a peak in activity each year around mid-September. Equity investors, too, have a watchful season.
Revisiting Risk in an Euphoric Market Environment
Posted on July 19, 2017
The existence of a trade-off between the opportunities for gain against the possibility of loss is not in debate. Nor are the mathematical calculations behind each side of the equation subject to argument. However, where investors do take sides is what the definition of risk really means.
WST Featured in RIA Rankings Published by Financial Advisor Magazine
Posted on July 17, 2017
WST featured in RIA Rankings Published by Financial Advisor Magazine Wilbanks Smith & Thomas was recently named in the 2017 Top RIA Ranking produced by Financial Advisor Magazine. The voluntary survey, published in this month’s edition of the magazine, comprises a list of 638 Registered Investment Advisory firms reporting from
O Brother, Where Art Thou? Thoughts on Surging Stocks, the Fed and Hidden Treasure
Posted on June 19, 2017
An analysis of market breadth (or lack) of participation by the average stock in the indexes can usually be argued from both sides.
WST on Bloomberg TV: November 2016
Posted on November 11, 2016
Wayne Wilbanks, chief investment officer at Wilbanks Smith & Thomas Asset Management, discusses the market rally following the election of Donald Trump, U.S. valuations and the outlook for the bond market. He speaks to Bloomberg's Betty Liu and Yvonne Man on "Bloomberg Daybreak: Asia." (Source: Bloomberg) This information presented in any
WST on Bloomberg TV: August 2016
Posted on August 30, 2016
Wayne Wilbanks, chief investment officer at Wilbanks, Smith & Thomas Asset Management, discusses the low volumes in the markets, the timing of the next Fed rate hike and negative interest rates. He speaks to Bloomberg's Ramy Inocencio and Yvonne Man on "Daybreak Asia." (Source: Bloomberg) This information presented in any of
WST on Bloomberg TV: May 2016
Posted on May 24, 2016
Wayne Wilbanks, chief investment officer at Wilbanks, Smith & Thomas Asset Management, discusses the rally in U.S. stocks with Bloomberg's Angie Lau on "First Up." (Source: Bloomberg) This information presented in any of the above publications/media appearances represents opinions of Wilbanks Smith & Thomas and are subject to change from time
WST on Bloomberg TV: April 2016
Posted on April 13, 2016
Wayne Wilbanks, chief investment officer at Wilbanks Smith & Thomas Asset Management, discusses U.S. earnings season, its impact on the markets and his strategy for investors. He speaks to Bloomberg's Angie Lau on "First Up." (Source: Bloomberg) This information presented in any of the above publications/media appearances represents opinions of Wilbanks
WST on Bloomberg TV: February 2016
Posted on February 5, 2016
Wayne Wilbanks, chief investment officer at Wilbanks, Smith & Thomas Asset Management, discusses the possibility of a U.S. recession. He speaks with Bloomberg’s Angie Lau on "First Up." (Source: Bloomberg) This information presented in any of the above publications/media appearances represents opinions of Wilbanks Smith & Thomas and are subject to