We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.
We are a family-owned financial services firm that values client relationships, long-term stability, and supporting the communities where we live and work.
The idea of family defines our culture, because each of us knows that our reputation is on the line as if our own name was on the door.
Our reputation as a leading independent financial services firm is built on the stability of our longstanding and highly experienced senior executives.
We are committed to corporate philanthropy; economic and financial literacy advocacy; and diversity, equity, and inclusion initiatives.
Stephens is proud to sponsor the PGA TOUR, LPGA Tour, and PGA TOUR Champions careers, as well as applaud the philanthropic endeavors, of our Brand Ambassadors.
We host many highly informative meetings each year with clients, industry decision makers, and thought leaders across the U.S. and in Europe.
We provide fiduciary investment strategies to public-and private-sector institutional clients through asset allocation, consulting, and retirement services.
Decades of proven performance and experience in providing tailored fixed income trading and underwriting services to major municipal and corporate issuers.
Proven industry-leading research, global market insights, and client-focused execution.
Customized risk management, property & casualty, executive strategies and employee benefits solutions that protect our clients over the long term.
We assist companies with accessing capital through innovative advisory and execution services that help firms achieve their strategic goals.
We have been a trusted and reliable source of capital for private companies for over 70 years.
Our experienced Private Client Group professionals develop customized investment strategies to help clients achieve their financial goals.
We are a trusted municipal advisor with proven expertise in public financings. We also work with clients in negotiated and competitive municipal underwritings.
Economic Review The Labor Department reported that initial jobless claims rose last week, but remain near historically low levels. The Fed has aggressively raised interest rates in an effort to tame wage inflation, but the labor market has remained largely resilient throughout the year. Claims in regular state programs climbed by 9,000 to 225,000 for the week ending December 24th, after reporting 216,000 initial claims the prior week. The four-week moving average dropped to 221,000 from 221,250 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, increased by 41,000 to 1.710 million for the week ending December 17th. The Commerce Department reported the goods trade deficit narrowed in November as imports and exports both fell. The deficit decreased 15.5% to $83.3 billion in November. Exports fell 3.1% to $168.9 billion and imports declined 7.6% to $252.2 billion. The Commerce Department reported wholesale inventories rose 1.0% in November after gaining 0.6% the previous month. Year-on-year wholesale inventories have climbed 21.0%. Retail inventories increased 0.1% in November after falling 0.4% in October and are up 18.4% year-on-year. The Federal Housing Finance Agency reported the house price index of purchase-only homes remained unchanged in October after climbing 0.1% in September. The year-on-year change in the house price index was 9.8% in October. The HPI is estimated using repeated observations of housing values for single-family homes on which at least two mortgages were originated and subsequently sold to Freddie Mac or Fannie Mae. The use of repeat transactions on the same unit helps to control for differences in the quality of the houses. The S&P CoreLogic CaseShiller home price index decreased 0.52% in October after falling 1.35% in September, the fourth straight decline in home prices. The report indicates demand for housing continues to slow in September as higher mortgage rates and affordability pressure new homebuyers. The index climbed 9.24% in October from the same month in 2022. The index tracks changes in the value of homes in 20 metropolitan regions. The National Association of Realtors reported the index of pending home re-sales declined in November for the tenth time this year. The number of contracts to purchase previously owned homes fell 4.0% in November after declining 4.7% in October. Pending home sales are down 38.6% on a seasonally adjusted year-on-year basis in November. Pending sales are a leading indicator in the housing sector as they reflect contracts signed, as opposed to actual closed and final sales. BOND MARKET REVIEW Friday’s yields for the 2-, 5-, 10- & 30-year Treasury benchmarks securities were 4.43%, 4.00%, 3.87% and 3.96%. The 2yr/5yr, 5yr/10yr, 10yr/30yr and 2yr/30yr spreads closed at -43, -13, 9, and -47 basis points respectively. Economic/Events Calendar
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Mr. Clark has been in investment banking since 1983. He is a Chartered Financial Analyst. He has been a fixed income strategist at Stephens Inc. since 1996, developing investment strategies, policies and procedures for institutions consistent with overall asset/liability management.
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