Stonebridge Capital Advisors

News, Articles & Presentations

News, Articles & Presentations

Sharing Our Expertise

At Stonebridge, we believe in educating the community and sharing our knowledge and expertise.  We write weekly educational market review articles and quarterly national & global economic reviews along with a few other research papers throughout the year.

Below you will find our news, videos and articles.  For access to our archive of past articles please contact us by phone at 651-251-1000.

The Bridge Research Article- The Emerging Cannabis Market

November 26, 2019

This month’s article is written by senior analyst and portfolio manager, Steve Roorda, as he discusses the emerging cannabis market and its effects on various industries.

Full Article Here

October Stonebridge Market Commentary

November 6, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the October equity and fixed income markets. Click the button below to read the article.

Full Article Here

September Stonebridge Market Commentary

September 5, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the September equity and fixed income markets. Click the button below to read the article.

Full Article Here

2019 Wealth Panel Discussion

August 1, 2019

This year’s topic was focused on asset and estate protection. Our featured panelists were Lori Hume, CPA; Doug Wolgamot, Attorney at Winthrop & Weinstine; Mark Brown, Vice President at Aon Private Risk Mangagement; and Robert Kincade, President and Portfolio Manager at Stonebridge.

August Stonebridge Market Commentary

September 5, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the August equity and fixed income markets. Click the button below to read the article.

Full Article Here

The Bridge Research Articles: A Look Into Donor Advised Funds

August 7, 2019

This month’s article is centered around Donor Advised Funds and is written by Director of Marketing, Patrick Kincade. Patrick takes a look at the evolution of DAFs and dissects their continued usefulness today.

Full Article Here

July Stonebridge Market Commentary

August 1, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the July equity and fixed income markets. Click the button below to read the article.

Full Article Here

The Bridge Research Articles: Income vs. Principal

July 18, 2019

This month’s article is entitled “Income vs. Principal” and is written by Fixed Income Trader and Portfolio Manager, Scott Shinnick. Scott takes a look at why certain portfolios may benefit from a fixed income strategy during times of increased market volatility.

Full Article Here

June Stonebridge Market Commentary

July 2, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the June equity and fixed income markets. Click the button below to read the article.

Full Article Here

May Stonebridge Market Commentary

June 3, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the May equity and fixed income markets. Click the button below to read the article.

Full Article Here

2019 Q2 Stonebridge Economic Outlook

May 16, 2019

In this quarters Stonebridge Economic Outlook, Dr. Laufenberg reviews the 2019 Q1 numbers and provides his forecast.

Full Article Here

The Bridge Research Articles: A Look Into Social Security

April 26, 2019

This months article is entitled “A Look Into Social Security” and is written by Client Service Associate Mitchell D. Cornelsen. Mitchell takes an in-depth look at the inner workings of Social Security, its history and impact on retirement.

Full Article Here

March Stonebridge Market Commentary

April 2, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the March equity and fixed income markets. Click the button below to read the article.

Full Article Here

2019 Stonebridge Economic & Market Forum

March 14, 2019

 

Stonebridge Economist, Daniel E. Laufenberg, Ph.D., discusses the economy and provide his outlook for 2019. Following Dr. Laufenberg’s update on the economy, Stonebridge Portfolio Managers, John K. Schonberg, CFA, Heidi L. Hukriede, CFA fielded questions from our moderator and the audience.

Timelines:

  • min 0 – 7:29 | Introduction
  • min 7:3034:30 | Economic Outlook
  • min 34:31 – end | Panel Discussion

 

The views expressed here reflect those of the speakers as of the date noted and not necessarily those of Stonebridge Capital Advisors. They may change as economic fundamentals and market conditions change. This commentary is provided as a general source of information only and is not intended to provide investment advice for individual investor circumstances. Past performance does not guarantee future results.

February Stonebridge Market Commentary

March 4, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the February equity and fixed income markets. Click the button below to read the article.

Full Article Here

January Stonebridge Market Commentary

February 4, 2019

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the January equity and fixed income markets. Click the button below to read the article.

Full Article Here

The Bridge Research Articles: A Primer on Exchange-Traded Funds

January 23, 2019

Exchange-traded funds are all the rage these days. There are thousands of them. Also known as ETFs, they account for over $1.8 trillion in assets under management domestically.

In this article, our writer examines exchange-traded funds reviewing the history, popularity, valuation and appropriateness in portfolios.

Full Article Here

Stonebridge Market Commentary

December 4, 2018

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the November equity and fixed income markets along with a brief review of the first quarter. Click the button below to read the article.

Full Article Here

Stonebridge Market Commentary

November 1, 2018

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the October equity and fixed income markets along with a brief review of the first quarter. Click the button below to read the article.

Full Article Here

The Bridge- Stonebridge Research Article

September 19, 2018

Investing With or Without People

The investment management world seems to be reducing the role of people due to index or passive investing, quantitative and algorithmic investing, and AI and machine learning. Is that a good thing?

Full Article Here

The Bridge- Stonebridge Research Article

August 28, 2018

The Short Vol Trade

The article illustrates market volatility and its impact on investment strategies. At the beginning of 2018 the market saw a sharp increase in volatility, reversing a three-year downward trend.

Full Article Here

Stonebridge Economic Outlook

August 10, 2018

Stonebridge Economist Daniel E. Laufenberg, Ph.D. has written his latest Economic Outlook. This quarters outlook has two sections:

Section 1: Forecast Update
Section 2: Have Changes to the CPI Gone Too Far?

Full Article Here

Stonebridge Market Commentary

August 1, 2018

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the July equity and fixed income markets along with a brief review of the first quarter. Click the button below to read the article.

Full Article Here

Stonebridge Market Commentary

July 3, 2018

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the June equity and fixed income markets along with a brief review of the first quarter. Click the button below to read the article.

Full Article Here

The Bridge: Stonebridge Research Articles

May 24, 2018

Risk and What That Means to You

In this article we discuss what high and low risk tolerance means and looks like to investors and their portfolios.

Full Article Here

March Market Commentary

April 3, 2018

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the March equity and fixed income markets along with a brief review of the first quarter. Click the button below to read the article.

Full Article Here

The Bridge: Stonebridge Research Articles

March 29, 2018

Tax Cuts and Jobs Act: The Impact on Charitable Donations

This article discusses the impact of the Tax Cuts & Jobs Act on charitable donations and examines what we currently know, what we think might happen and some possible solutions.

The Bridge: Stonebridge Research Articles are a new series which will provide in-depth articles on financial topics.  Look for more articles in the coming months.

Full Article Here

Stonebridge Market Commentary

March 2, 2018

This months commentary features David A. Eckenrode, Director of Equity Management and Jon F. Lynn, Senior Analyst & Portfolio Manager giving their reviews of the February equity and fixed income markets. Click the button below to read the article.

Full Article Here

The Bridge: Stonebridge Research Articles

February 28, 2018

Stock Market Correction, Bonds, Rates and Inflation

Partner & Portfolio Manager Ronald C. Hume has written a two-part article:

  • Part 1: STOCK MARKET CORRECTION: What happened, what it means, and what to do
  • Part 2: BONDS, RATES & INFLATION: What is happening, what it means, and what to do

This article is part of our new series “The Bridge: Stonebridge Research Articles” which will provide in-depth articles on financial topics.  Look for more articles in the coming months.

Full Article Here

Stonebridge 2018 Economic & Market Forum

February 20, 2018

Stonebridge Economist, Daniel E. Laufenberg, Ph.D., discusses the U.S. economy and provides his outlook for 2018. Following Dr. Laufenberg’s update on the economy, Stonebridge Portfolio Managers, Robert A. Kincade, Steven B. Roorda and Heidi L. Hukriede, CFA fielded questions from a moderator and audience members.

The views expressed here reflect those of the speakers as of the date noted and not necessarily those of Stonebridge Capital Advisors. They may change as economic fundamentals and market conditions change. This commentary is provided as a general source of information only and is not intended to provide investment advice for individual investor circumstances. Past performance does not guarantee future results.

2018 Q1 Stonebridge Economic Outlook

January 16, 2018

This quarters Outlook includes three headings:

  • The Forecast—More Growth but Less Confident
  • Tax Reform and the Economy
  • Is an Inverted Yield Curve Really Necessary?

To read the full Economic Outlook by Stonebridge Economist Daniel E. Laufenberg Ph.D. click below.

Read Full Article Here

Stonebridge Market Wrap

December 22, 2017

Equity Market Comment

Next week is a short one as is the week that follows. Not only that but 2017 closes off at Friday’s bell.

A New Market Wrap

Starting in the new year, there will be a change to the format of our weekly Stonebridge Market Wrap.

Read Full Article Here

Stonebridge Market Wrap

December 15, 2017

Equity Market Comment

We are running out of weeks in 2017. I do not think anyone could have guessed a year ago where we would be at the end of 2017.

End of the Year Reminder

As the year comes to a close, we would like to make sure you are aware of several year-end financial objectives you may want to complete.

Read Full Article Here

Stonebridge Market Wrap

December 8, 2017

Equity Market Comment

This past week was kind of dull. Dull unless you are watching Bitcoin. The amount of speculation surrounding cryptocurrencies such as Bitcoin puts speculation into a new light entirely.

Will the Tax Reform Bill Affect Municipal Bonds?

We have had many questions regarding how the Tax Reform Plan coming out of Congress may affect the Municipal bond market.  We clearly do not have a crystal ball and are still hoping to get a better handle on what might pass, and not jump ahead of ourselves too much.  With that being said, here are a few of our thoughts.

Read Full Article Here

Stonebridge Market Wrap

December 1, 2017

Equity Market Comment

There was a mini earthquake this week as big 2017 winners were sold off and losers bought.

Stonebridge’s New Community Partner

With 2018 on the horizon we look to bring in our next community partner.

Read Full Article Here

Stonebridge Market Wrap

November 24, 2017

Equity Market Comment

Well, we made it through Thanksgiving. No word on how “Black Friday” went but we’ll know more next week. It will be interesting to see how the spin unfolds in the face of changing shopping habits.

Bond Market Commentary

The high-yield corporate bond market has shown some signs of weakening this month, widening spreads from historically tight levels. The high-yield municipal market however has shown no let up.

Read Full Article Here

Stonebridge Market Wrap

November 17, 2017

Equity Market Comment

In the last week before Thanksgiving, the market got a bit bouncy. Down in the morning often followed by a reversal in the afternoon. In part, we were following European markets.

Sector Performance Update

Recently, we have written articles on equity styles as it relates to performance divergence. The most common comparison lately has been Growth vs Value equity strategies.

Read Full Article Here

Stonebridge Market Wrap

November 10, 2017

Equity Market Comment

This past Tuesday was the 100th anniversary of the beginning of the Russian Revolution. Seems the Russians themselves didn’t think enough of the event to have a celebration. Wonder why. Seems the philosophy is alive and well on our college campuses. Oh well. Another anniversary that comes on the 11th is Armistace Day or Veterans Day here in the States. Originally set to honor the end of World War 1, in America it has changed to honor all of our veterans. So thank you veterans for your sacrifice.

Bonds 101

Understanding what a bond is and why they are issued can hopefully make some of the other concepts a little easier to understand.

Read Full Article Here

Stonebridge Market Wrap

November 3, 2017

Equity Market Comment

4.1% unemployment, 261,000 new jobs in October, new tax plan revealed, Apple knocks the earnings cover off the ball, Houston wins first World Series, Trump names new Fed Chair, markets make new highs. See how easy this is?

Stonebridge Quarterly Outlook

The Stonebridge team gives our quarterly outlook on the market and how we manage in this environment.

Read Full Article Here

Stonebridge Market Wrap

October 27, 2017

Equity Market Comment

Tech stocks rumbled back to life on Friday in a big way on the heels of boffo earnings beats. Google, Microsoft, Intel and Amazon were all up 6-10% on the day sporting flash new highs. Even wallflower Twitter managed a 14 month high.

Yields Are Slowly Improving

As the snow is starting to fall here in Minnesota, it seems that the best days of fall may now be passing. But as we look back at the last couple months in the bonds market—better days, at least for yield hungry buyers, are starting to arrive. Interest rates have been slowly marching higher since the unofficial end of summer.

Read Full Article Here

Stonebridge Market Wrap

October 20, 2017

Equity Market Comment

While nobody was paying attention the Senate passed a budget bill that appears to clear the way for a tax cut bill. The market fresh off a more than 100 point bounce back on Thursday, (wait for it) applauded by going up.

Staying Long Term Goal Oriented

As we approach the end of the year it is time to begin the process of reviewing investment goals.  The stock market has provided another good year of returns and the equity market still seems strong. Some may be questioning whether or not their goals are appropriate.  For a few investors this questions might lead to a decision they will regret later, chasing performance.

Read Full Article Here

Stonebridge Market Wrap

October 13, 2017

Equity Market Comment

After weeks of hurricane talk and large damage estimates, we now have three hurricanes in a row with estimates ranging in the $60– 100 Billion…each. This week we have wildfires in California with damages estimates in the $65 billion area…and counting. This is starting to get expensive.

Callable Bonds:  What are They and Why Does Stonebridge Use Them?

When a corporation or municipality decides to issue debt, they have several options on how they want to structure it.  One caveat that they can do is make the bonds callable.  The call allows the issuer to redeem the bonds prior to its ultimate maturity.  Why would the issuer do this?

Read Full Article Here

Stonebridge Market Wrap

October 6, 2017

Equity Market Comment

Another great week for the market. Since last Friday, we have had two great ISM reports with the nonmanufacturing index at the highest since 2005 and the manufacturing index at the highest since 2004.

Risk Tolerance in an Up Market

Even with everything that has been in the news recently the market has continued up. While there have been no indicators of a slow down a review of your current asset allocations is important.

Read Full Article Here

Stonebridge Market Wrap

September 29, 2017

Equity Market Comment

This week saw some action on several fronts, many of them market moving. Since the health care reform bill was withdrawn, many commentators opined that the talk of tax reform would likely founder.

Buying Local: Is it Always Best in Muniland?

Bloomberg News pointed out an oddity in its Municipal Market Brief this week. It made mention that for most of September, state of New York bonds have paid higher yields than state of California bonds, despite New York holding a higher credit rating. In theory, the lower the credit quality, the higher the yield should be. Bloomberg credited the relative scarcity of tax-exempt bonds in California made available to a growing population of investors. Really, there are likely a number of factors that could explain the difference.

Read Full Article Here

Stonebridge Market Wrap

September 22, 2017

Equity Market Comment

Nine days in a row we were up in the markets and it came to an end on Thursday and Friday after the Fed indicated that they might, might raise rates again in December.

A Market Conundrum? One Man’s Opinion

According to the CAPE ratio (cyclically adjusted P/E ratio), the US stock market of today has historically only been this expensive just before the crash of 1929, the tech bubble of the late 90’s, and the great financial crisis of 2008.

Read Full Article Here

Stonebridge Market Wrap

September 15, 2017

Equity Market Comment

Raise your hand if you thought the following last Friday before Irma made landfall:

  • A) The hurricane would not cause as much damage as predicted
  • B) The market would go up

The Value of Not Trying to Time the Market

I am sure that readers of the Stonebridge Market Wrap and other publications are getting tired of hearing how interest rates remain at historical lows.  It has been talked about for what seems like forever now.  While rates will rise at some point in the future, I think it is a good idea to look back and see why trying to “time” the market is very hard to do and has some downside.

Read Full Article Here

Stonebridge Market Wrap

September 8, 2017

Equity Market Comment

Strange week. Just after taking in the destruction of Hurricane Harvey, we got to hear of the impending destruction of Hurricane Irma.

It’s Tough to Call the Top

The US Equity market continues to surprise investors with its ability to continue to move higher.  The market as measured by the S&P 500 is up close to 10% and has not had any meaningful corrections greater than 5% in over 10 months.  This is not surprising given the continued steady economic growth and good earnings.

 

Read Full Article Here

Stonebridge Market Wrap

September 1, 2017

Equity Market Comment

The markets somehow went up despite the terrible devastation of Southeast Texas and Louisiana.

Are Natural Disasters also a Calamity for Municipal Bonds?

All of our hearts go out to those affected by the unimaginable aftermath of Hurricane Harvey. With costs so high to clean up and rebuild the region’s many affected communities, one can’t help but wonder how routine services and government obligations including municipal bond payments will be affected in the months and years ahead.

 

Read Full Article Here

Stonebridge Market Wrap

August 25, 2017

Equity Market Comment

It looks as if we are about to experience something that has not happened in almost 12 years, a category 3 hurricane hitting the U.S. mainland. The last one was Wilma on 10/24/05. Why is this important to those of us not living in Texas?

What Goes Into Managing Your Portfolio

Recently I was in a meeting with a client, and they asked me a very valid question. How do you manage all of your client portfolios? Good question!

 

Read Full Article Here

Stonebridge Market Wrap

August 18, 2017

Equity Market Comment

The market took a deep breath on Monday when North Korea took a step back from their threat to shoot a few missiles Guam’s way. The market then drifted higher on Tuesday and Wednesday before succumbing to earnings pressure from Cisco and WalMart on Thursday.

Corporate Bonds and Dividends/Stock Repurchases

Not a lot of people realized that corporate bonds have an effect on the price of a stock. There is an obvious connection in regards to how much debt a company has on its books. The higher the debt ratios a company has, the riskier the company is.

 

Read Full Article Here

Stonebridge Market Wrap

August 11, 2017

Equity Market Comment

Favorite headline of the week: “What to do with stocks if U.S. and North Korea go to war”. Geez, Louise. Does anybody really think we are going to war with North Korea?

Medicare Made Easy

You may know that when you turn 65 you become eligible for Medicare. But did you know when it comes to Medicare you have choices? From reviewing original Medicare (Part A and Part B) to understanding Medicare supplement insurance plans to Medicare Advantage (Part C) and stand-alone prescription drug plans (Part D). Medicare helps millions of Americans get the health care they need.

 

Read Full Article Here

Stonebridge Market Wrap

August 4, 2017

Equity Market Comment

Since 2013 there have been eight times we have added another thousand point new high. To long time investors it seemed to be a miracle that we crossed the 5,000 barrier in 1995, never mind the 10,000 mark in 1999.

Don’t Even Think About It

For a while now I have been hearing commercials exhorting the listener to invest in gold which in and of itself is fine. Should anybody consider investing their IRA in tangibles that you can hold? In a word, no.

 

Read Full Article Here

Stonebridge Market Wrap

July 28, 2017

Equity Market Comment

It is getting hard to write about the week’s market action when nothing ever seems to change. Volatility; gone. Market averages; new highs. Bond yields; a bit lower. Earnings; good for the most part. Washington; what can I say?

Bond Yields and What They Mean

In the bond world there are several different types of yields which can sometimes be confusing to investors. There is a yield to call (YTC), yield to maturity (YTM) and current yield (CY). These are all based off the price of the bond and the bond’s coupon, but have different meanings.

 

Read Full Article Here

Stonebridge Market Wrap

July 21, 2017

Equity Market Comment

It is still way too early in the second quarter earnings season to make any calls but for the most part, we are liking the results so far. The next couple of weeks are a flood of reports, so stay tuned. It seems like the reports exceed expectations about 60-65% of the time, so that is your benchmark.

Key 2017 Economic Themes

While there are no major changes from this quarter to last quarters Key 2017 Economic Themes, we do feel it is important to share with you what we are seeing and the impact on our investment strategy.

Read Full Article Here

The Stonebridge Economic Outlook

July 19, 2017

We are excited to announce that the Stonebridge Economic Outlook, written by Economist, Daniel E. Laufenberg Ph.D., is available. The articles in this quarter’s Outlook include:

  1. Still on Track–Unfortunately
  2. Assessing the Impact of the Presidency on the Economy

Read Full Article Here

Stonebridge Market Wrap

July 14, 2017

Equity Market Comment

So as advertised, earnings season kicked off this week. The banks started it off pretty well with beats by the likes of JPM and Citigroup. While the loan picture and higher rates made for good earnings, the flat volatility environment caused a drop in trading earnings.

The Municipal Market: What We Have Been Buying This Week

Over the last week or two, we have seen a softening of the market rally we had experienced heading into June. Rates are again moving higher, creating some renewed opportunities for income investors.

Read Full Article Here

Stonebridge Market Wrap

July 7, 2017

Equity Market Comment

Second Quarter earnings reports kick off next week. Pepsico and Yum start off on Tuesday and JPMorgan and Wells end the week on Friday. This market has elevated itself this year on a combination of hope and some better than expected earnings and to a certain respect, better economic news. Next week, we will begin putting all of that to another test.

Equity Markets- Mid Year Review

The equity markets have provided a variety of returns during the first half of 2017. In this article, we will review how the year kicked off, where we are at and how we plan to approach the rest of 2017

Read Full Article Here

Stonebridge Market Wrap

June 30, 2017

Equity Market Comment

Thanks, Janet. On Tuesday, Janet Yellen, Chair of the Fed, told our friends in the UK that another financial crisis like the one in 2008 was not likely “in our lifetime”. I wonder what the time reference was.

When a Maturity Specific ETF May Be Appropriate for Fixed Income Accounts

Just like in the equity world, fixed income investors have a choice to make in regards to buying individual securities vs. an ETF (Exchange Traded Fund). The size of the portfolio is the biggest factor in determining if an ETF is the best fit.

Read Full Article Here