Who We Are

What We Do

We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.

About Us

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 Stephens Story

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.

Leadership

Our reputation as a leading independent financial services firm is built on the stability of our longstanding and highly experienced senior executives.

Impact Initiatives

We are committed to corporate philanthropy; economic and financial literacy advocacy; and diversity, equity, and inclusion initiatives.

Our Brand Ambassadors

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.

Making Connections

We host many highly informative meetings each year with clients, industry decision makers, and thought leaders across the U.S. and in Europe.

Our Businesses

Capital Management

We provide fiduciary investment strategies to public-and private-sector institutional clients through asset allocation, consulting, and retirement services.

Fixed Income Sales & Trading

Decades of proven performance and experience in providing tailored fixed income trading and underwriting services to major municipal and corporate issuers.

Institutional Equities and Research

Proven industry-leading research, global market insights, and client-focused execution.

Insurance

Customized risk management, property & casualty, executive strategies and employee benefits solutions that protect our clients over the long term.

Investment Banking

We assist companies with accessing capital through innovative advisory and execution services that help firms achieve their strategic goals.

Private Capital

We have been a trusted and reliable source of capital for private companies for over 70 years.

Private Wealth Management

Our experienced Private Client Group professionals develop customized investment strategies to help clients achieve their financial goals.

Public Finance

We are a trusted municipal advisor with proven expertise in public financings. We also work with clients in negotiated and competitive municipal underwritings.

Market Trends

Weekly Economic Review | January 3, 2023

Jan 3, 2023

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

Tuesday

January 3

Nov Construction Spending (-0.4%)

9:00 Central

Wednesday

January 4

Dec 30th MBA Mortgage Applications

6:00 Central

Dec ISM Manufacturing (48.5)

9:00 Central

Nov JOLTS Job Openings (10,025k)

9:00 Central

Dec 14th FOMC Meeting Minutes

13:00 Central

Thursday

January 5

Dec 31st Initial Jobless Claims (225k)

7:30 Central

Dec ADP Employment Change (150k)

7:15 Central

Nov Trade Balance (-$63.7b)

7:30 Central

Friday

January 6

Dec Change in Nonfarm Payrolls (200k)

7:30 Central

Dec Unemployment Rate (3.7%)

7:30 Central

Dec Average Hourly Earnings-YOY (5.0%)

7:30 Central

Dec Labor Force Participation Rate (62.2%)

7:30 Central

Dec ISM Services Index (55.0)

9:00 Central

Nov Factory Orders (-2.1%)

9:00 Central

Nov Factory Orders Ex Transportation

9:00 Central

About the Expert

Troy Clark

Senior Vice President, Fixed Income Strategist, Fixed Income Sales & Trading

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.

Read full bio
Source: Bloomberg L.P.
  1. This report has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. All expressions of opinion reflect the judgment of the individual expressing the opinion and are subject to change. This report does not purport to be a complete description of the markets or developments referred to in the material. Information included in the report was obtained from internal and external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Prices, yields, and availability are subject to change with the market. There is no assurance any forward looking statements will be realized or any of the trends mentioned will continue. Nothing in this report is intended, or should be construed, as legal, accounting, regulatory or tax advice. Additional information available upon request. 2022 Stephens Inc., Member NYSE/SIPC.