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 | March 14, 2022

Mar 14, 2022
  • The Labor Department reported that initial jobless claims edged higher last week and seem set to fluctuate around current low levels. Demand for labor remains strong with job openings at record highs. Claims in regular state programs increased 11,000 to 227,000 for the week ending March 5th, after reporting 216,000 initial claims the prior week. The four-week moving average climbed to 231,250 from 230,750 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, climbed 25,000 to 1.494 million for the week ending February 26th.
  • The Federal Reserve reported consumer credit rose at its slowest pace in a year as consumers paid down credit card balances that jumped during the holiday buying season. Consumer credit increased $6.8 billion after gaining an upwardly revised $22.4 billion in December. Credit card debt declined $0.2 billion to $1.043 trillion with auto and student loan debt increasing by $7.1 billion to $3.399 trillion.
  • The National Federation of Independent Business reported sentiment among small businesses dropped to its lowest level since January of 2021. Inflation and labor are the most important problems plaguing small businesses as concerns about the pandemic subside. The index declined 1.4% to a 95.7 reading in February from 97.1 the prior month.
  • The Commerce Department reported the trade deficit widened in January to a new record. The value of imports, especially capital equipment, consumer goods and oil pushed imports to a record while exports declined. The deficit increased 9.4% to $89.7 billion in January. Imports rose 1.2% to $314.1 billion and exports fell 1.7% to $224.4 billion.
  • The Commerce Department reported wholesale inventories rose 0.8% in January after gaining 2.6% in December. Year-on-year wholesale inventories have gained 18.1%. Wholesale sales increased 4.0% in January after gaining 0.8% in December, with year-on-year sales up 22.4%.
  • The Labor Department reported that job openings edged lower in January but remained at a very elevated level. Job openings decreased by 185,000 in January to 11.263 million, from an upwardly revised 11.448 million in December. There are 0.58 unemployed job seekers for each available job. The quits rate declined to 2.8% from a record 3.0% in the prior month, pointing to a high degree of churn in the labor market.
  • The Labor Department reported the consumer price index increased in February at the fastest annual pace in four decades, with costs surging for gasoline, food and housing. Costs are expected to continue to climb following Russia’s invasion of Ukraine. The data shows goods inflation is spilling over to core services inflation and energy costs passing through to core inflation. That adds to the growing momentum for stickier price pressures. The index gained 0.8% in February after gaining 0.6% the prior month. The year-on-year change in consumer prices is 7.9% in February. Service prices gained 0.5% in February after climbing 0.6% in January. Prices of commodity based manufactured goods gained 1.3% in February after gaining 0.8% the prior month. The core CPI,
    which excludes volatile food and energy prices, gained 0.5% in February after climbing 0.6% the prior month. The year-on-year change in core CPI is 6.4%.
  • The Treasury Department reported a budget deficit of $216.6 billion for the month of February with the government collecting $289.9 billion and spending $506.5 billion. This compares to a deficit of $310.9 billion a year earlier. The current year-to-date deficit as of February is $475.6 billion.
  • The University of Michigan’s preliminary index of consumer sentiment continued to deteriorate as surging inflation weakens personal financial prospects. Consumers held a very negative prospect for the economy with the sole exception of the job market. The index decreased to 59.7 in March from a 62.8 reading in February. The index of current conditions decreased to 67.8 from 68.2 the prior month while the index of expectations dropped to 54.4 from 59.4, its lowest reading in more than a decade.
  • The Mortgage Bankers Association reported the MBA index of mortgage applications rose 8.5% for the week ending March 4th after falling the previous four weeks. Refinancing applications increased 8.5% to 1,830 from 1,686 the prior week. Home purchase mortgage applications increased 8.6% to 267.6. The average contract rate on a 30-year fixed-rate mortgage declined to 4.09% from 4.15% the prior week for a 30-year fixed rate loan.

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.

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  1. Bloomberg Finance L.P. 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.