FOUNDED IN 1928
Andrew Jones Kilpatrick (Uncle Jonnie) and Warren Bothwell formed Bothwell & Kilpatrick in 1928 to offer stocks and bonds as investments to the people of Augusta. The firm was renamed A.J. Kilpatrick Jr. in 1949 when Warren Bothwell passed away. On May 1st,1962, Uncle Jonnie’s nephew, Richard Cree Kilpatrick, joined the brokerage business and A.J. Kilpatrick & Company was formed. Jonnie passed away in 1978, but the firm continued as a mainstay in downtown Augusta. In 1994, A.J. Kilpatrick & Co. joined A.G. Edwards, which was bought by Wells Fargo in 2007. In 2005, Thomas Duncan Kilpatrick joined his father, Richard, at A.G. Edwards as the third generation Kilpatrick in the financial services industry, and because of his commitment to providing objective financial advice, realigned with LPL Financial in 2009. Today, A.J.Kilpatrick is focused on serving Augusta’s people with the integrity and dedication of their founders, and the future vision of their thriving community.
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Recent growth metrics surprised to the upside, but leading indicators point toward some downside risk. In this edition of the Weekly Market Commentary, we examine potential opportunities amid a rotation in housing, buying patterns, and inflation.
As the market appears to be taking a rest and consolidating its $2.7 trillion rally leading up to the Thanksgiving holiday, the historical pattern over the last five years suggests the shortened holiday week typically enjoys modest gains.
One of the unchecked items is market breadth. Despite the recent rally, participation in the latest rebound has been underwhelming, raising questions over the sustainability of the advance. Second, 10-year Treasury yields remain in an uptrend, and until more technical evidence confirms the highs have been set, it may be challenging for stocks to maintain their upside momentum.
It’s been another volatile year for municipal (muni) investors this year. While generally outperforming U.S. Treasuries, the Bloomberg Muni Index is on track for its second calendar year of negative returns something that has never happened before.
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