The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.
U.S. economic stability that began forming in 2012 continued into the first quarter and in some areas true signs of growth are emerging. From employment to housing, positive weekly and monthly statistics are diverting from today's all-too-gloomy feelings.
Growth for the fourth quarter was originally reported in the negative column, but very quickly has been revised well into additive territory with an outlook for positive integers left of the decimal place in the near future.
Europe is another story as the recent trials of Cyprus can attest. In particular, the threat to confiscate insured deposit funds is anathema to euro-savers. Today, press reports abound that the decisions about Cyprus do not imply a model for any future action in the region. But I am not so sure.
However, there is no escaping the good news that the markets are ignoring such lunacy on the Continent.
Back in the U.S., Ben Bernanke and company are keeping their feet on the pedal with low rate targets and a continued pace of QE that is likely forcing investors into riskier asset classes than they would otherwise consider.
Geopolitical concerns are always in play. The most recent example is Kim Jong-Un's decision to deploy mid-range missiles to North Korea's east coast.
So, is it time for the National Anthem to end as we hear the announcement of the phrase "start your engines" that sends us off to the races?
Perhaps not yet, but we remain in our fire-resistant suits checking all the dials and balances so that we shall be ready when the flag falls.
For more information, check out our Quarterly Economic Report.
The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or SVB Asset Management, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.
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