White Papers
Compliance Documents
Second Quarter 2021 Update
June 2021

Hamlin equity accounts increased approximately 6.06% over the last three months as investors reacted favorably to strong Q1 earnings reports and optimistic outlooks related to a re-opening economy. Our municipal bond portfolios increased in value, benefiting from both lower Treasury yields and concern over proposed income tax rate increases.

First Quarter 2021 Update
April 2021

Hamlin equity accounts increased 12.48% during the first quarter. The S&P 500 Index advanced 6.17% for the quarter as investors anticipated strong earnings growth driven by flush consumers spending stimulus checks in a re-opening economy. Hamlin bond accounts increased modestly in value despite an 80-basis point back-up in the 10-year Treasury yield to 1.73% over the first three months of 2021. 

Fourth Quarter 2020 Update
January 2021

Hamlin equity accounts increased 15.00% during the fourth quarter. The S&P 500 advanced 12.15% for the quarter, celebrating better than expected COVID vaccine efficacy rates and the resolution of a contentious presidential election. Hamlin bond accounts increased in value despite a 24-basis point back-up in the 10-year Treasury yield to 0.93% over the last three months of 2020. In an effort to shorten this quarterly letter, we are publishing our 2021 Stock Market Outlook independently.

Third Quarter 2020 Update
October 2020

Hamlin’s equity accounts increased approximately 4.80% over the last three months as the stock market climbed steadily through mid-September to an all-time high. Investors anticipated a post-COVID re-opening boost to earnings and record- setting global monetary stimulus pushed PE multiples to levels not seen since 2000. Hamlin’s high-yield tax exempt bond account values advanced in line with the broader high yield municipal bond market as 10-year U.S. Treasury bond yields dropped approximately 5 basis points.