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Charles Rinehart Weighs in on Apple’s Developers Conference

Chief Investment Officer Charles Rinehart, CFA, CAIA weighs in on Apple’s Worldwide Developers Conference’s expected announcement of new artificial intelligence features, nothing that in the extremely competitive AI market it is important that Apple can start showing progress. “Apple Is Under Pressure to Deliver on AI at Monday’s WWDC Event.” Wall Street Journal 6/10/2024

Strategy Commentaries

Core Fixed Income Strategy Commentary

First Quarter 2024 Core Fixed Income Strategy Commentary 

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

First Quarter 2024 Intermediate Fixed Income Strategy Commentary 

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

First Quarter 2024 Short Duration Fixed Income Strategy Commentary

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

First Quarter 2024 SMID Cap Core Equity Strategy Commentary 

Strategy Commentaries

Equity Income Strategy Commentary

First Quarter 2024 Equity Income Strategy Commentary 

Bond IQ

Moving From Cash: The Right Time For Short Duration Fixed Income

While cash has been a beneficial allocation for lower-risk assets in recent years, with the Fed now openly communicating about the timing for potential rate cuts, this dynamic may soon change. In our most recent Bond iQ, Brandon Zureick and Landon Peterson suggest that investors holding excess cash in portfolios should consider moving into short duration fixed income and demonstrate the value it can add over time.

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MASTERCLASS: Fixed Income - February 2024

In a recent Asset TV Masterclass, Brandon Zureick offered perspective on risks and opportunities in Fixed Income markets.  Along with Brian Kennedy of Loomis, Sayles & Company, the conversation covered treasury issuance trends, the current environment in credit markets, the growth of Private Credit, as well as themes that could impact inflation and interest rates going forward.

White Papers

Defining Quality and Its Benefits for SMID Cap Stocks

A focus on investing in quality companies sounds good, but what does that actually mean in practice?  In this paper, Managing Director of Research & Senior Portfolio Manager Brian Kute, CFA, Lead PM on Johnson’s SMID Cap Core strategy and the Johnson Opportunity Fund (JOPPX), defines what quality means for Johnson Asset Management and explains how our research team identifies high-quality companies in the SMID Cap space.  He also demonstrates that a focus on high-quality stocks has historically provided long-term outperformance with downside protection and reduced volatility.

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Brandon Zureick on the Fed's Decision to Keep Rates Steady

Managing Director and Portfolio Manager Brandon Zureick, CFA discussed the Fed’s decision to keep rates steady at the most recent FOMC meeting with Spectrum News 1, noting that the Fed pushed back a bit on the notion they are going to be lowering rates in the very near term. “The Federal Reserve isn’t moving so fast on cutting rates” Spectrum News 1, 2/4/2024

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Brandon Zureick on How the Bank Failures Affects Us Now

Managing Director and Portfolio Manager Brandon Zureick, CFA weighs in on how the large bank failures that occurred in early 2023 have continued to impact the banking industry. Noting how these failures may increase regulations on all banks moving forward. "Last year’s SVB Signature Bank failures are now costing Ohio banks hundreds of millions of dollars.” Cleveland.com, 1/26/2024

Strategy Commentaries

Core Fixed Income Strategy Commentary

Fourth Quarter 2023 Core Fixed Income Strategy Commentary

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

Fourth Quarter 2023 Intermediate Fixed Income Strategy Commentary 

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

Fourth Quarter 2023 Short Duration Fixed Income Strategy Commentary 

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

Fourth Quarter 2023 SMID Cap Core Equity Strategy Commentary

Strategy Commentaries

Equity Income Strategy Commentary

Fourth Quarter 2023 Equity Income Strategy Commentary 

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Brandon Zureick Discusses Consumer Expectations in 2024

Managing Director and Portfolio Manager Brandon Zureick, CFA discussed the interest rate outlook for 2024 with Spectrum News 1, noting that steady interest rates and slowing economic growth could bring positive developments for consumers. “Consumers May See Some Relief in 2024” Spectrum News 1, 12/31/2023

Strategy Commentaries

Core Fixed Income Strategy Commentary

Third Quarter 2023 Core Fixed Income Strategy Commentary

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

Third Quarter 2023 Intermediate Fixed Income Strategy Commentary 

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

Third Quarter 2023 Short Duration Fixed Income Strategy Commentary 

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

Third Quarter 2023 SMID Cap Core Equity Strategy Commentary

Chart IQ

Relative Valuation Supports Small and Mid Cap Stocks

Within the domestic equity market, both small and mid cap stocks look attractive relative to large caps when compared on a valuation basis.  Our latest Chart iQ installment illustrates a simple framework we use to make this comparison.

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Featured Article in GAPPT Newsletter

Johnson Asset Management was honored to have our recent Equity iQ written by Managing Director of Research & Senior Portfolio Manager, Brian Kute, CFA, featured in the 2023 Third Quarter Georgia Association of Public Pension Trustees Newsletter. 

Strategy Commentaries

Core Fixed Income Strategy Commentary

Second Quarter 2023 Core Fixed Income Strategy Commentary

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

Second Quarter 2023 Intermediate Fixed Income Strategy Commentary 

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

Second Quarter 2023 Short Duration Fixed Income Strategy Commentary 

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

Second Quarter 2023 SMID Cap Core Equity Strategy Commentary 

Equity IQ

The Benefits of Profitability for Small and Mid Cap Stocks

Over the past 15+ years, the number of unprofitable companies within the U.S. equity universe has been on the rise, particularly within small and mid cap. In our inaugural EquityiQ, Brian Kute discusses the causes of this increase and compares the return and risk characteristics of these unprofitable companies to their profitable peers.

Chart IQ

Mid Cap: An Equity Market Sweet Spot

With the strong relative performance of large cap stocks in recent years, as well as the academic basis often cited in support of small cap performance, it may surprise some allocators that mid cap stocks have been the best performing domestic equity market cap segment over the past 40+ years.  In this month’s Chart iQ, Landon Peterson observes this strong long-term performance and offers a few reasons why mid cap stocks make up an equity market sweet spot.

Bond IQ

Applause For A Pause: Have We Reached The Fed's Final Act?

The Fed unanimously decided to pause the hiking campaign at their June meeting. This left many investors wondering if we have reached the terminal rate, or if this was just a skip on the way to additional rate hikes. Ultimately, it is our belief that the Fed is nearing the end of the tightening cycle and going forward, the dominant factor in interest rate valuation will be the timing and magnitude of rate cuts.

Chart IQ

Financial Conditions Suggest Caution on Credit

In the midst of this aggressive Federal Reserve rate hike cycle, questions around the effects of tighter financial conditions loom large over the economy.

Strategy Commentaries

Core Fixed Income Strategy Commentary

First Quarter 2023 Core Fixed Income Strategy Commentary

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

First Quarter 2023 Intermediate Fixed Income Strategy Commentary 

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

First Quarter 2023 Short Duration Fixed Income Strategy Commentary 

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

First Quarter 2023 SMID Cap Core Equity Strategy Commentary 

Bond IQ

Are Credit Spreads Out of Sync with the Economy?

In this month’s “BondiQ”, we explore the relationship between credit spreads and two important economic variables in an effort to assess the implied fair value of credit spreads.

Strategy Commentaries

Core Fixed Income Strategy Commentary

Fourth Quarter 2022 Core Fixed Income Strategy Commentary 

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

Fourth Quarter 2022 Intermediate Fixed Income Strategy Commentary 

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

Fourth Quarter 2022 Short Duration Fixed Income Strategy Commentary

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

Fourth Quarter 2022 SMID Cap Core Equity Strategy Commentary

Strategy Commentaries

Core Fixed Income Strategy Commentary

Third Quarter 2022 Core Fixed Income Strategy Commentary

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

Third Quarter 2022 Intermediate Fixed Income Strategy Commentary

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

Third Quarter 2022 Short Duration Fixed Income Strategy Commentary

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

Third Quarter 2022 SMID Cap Core Equity Strategy Commentary

Bond IQ

Interest Rates: Are We There Yet?

2022 has been an extremely challenging year for bond investors, leaving many to wonder how close we may be to a cyclical peak in rates. In this month’s “BondiQ”, we explore clues from the bond market that can help us better understand where we’re at in the interest rate cycle.

Strategy Commentaries

Intermediate Fixed Income Strategy Commentary

Second Quarter 2022 Intermediate Fixed Income Strategy Commentary

Strategy Commentaries

Core Fixed Income Strategy Commentary

Second Quarter 2022 Core Fixed Income Strategy Commentary

Strategy Commentaries

Short Duration Fixed Income Strategy Commentary

Second Quarter 2022 Short Duration Fixed Income Strategy Commentary

Strategy Commentaries

SMID Cap Core Equity Strategy Commentary

2022 Second Quarter SMID Cap Core Equity Strategy Commentary