We have three strategic asset-allocation models, based on risk-tolerance: Conservative, Moderate and Aggressive. We make tactical adjustments to the models based on our outlooks for the capital markets. February was a solid month for equity investors, as the S&P 500 advanced 5.3%, compared to a 1.8% decline for the fixed-income benchmark ETF AGG. Looking ahead, our Stock-Bond Barometer model slightly favors bonds over stocks for long-term portfolios, in light of the recent rally in equities. Drilling down into stocks, we are over-weight on large-caps. We favor large-caps for growth exposure and financial strength, while small-caps are selling at historical discounts relative to large-caps and offer value. Internationally, U.S. stocks have outperformed global stocks over the trailing one- and five-year periods. We expect this to continue, given the U.S. market's embrace of the innovative Tech sector. In terms of growth versus value, we anticipate that, over the long term, growth, led by the Tech, Consumer, and Healthcare sectors, will top returns from value, led by Energy, Real Estate and Materials, due to secular and demographic trends. As for the fixed-income segment of a portfolio, we break bonds into four areas: Core, such as the industry benchmark ETF AGG or Treasuries; Inflation-Indexed; Opportunistic, such as securitized debt, corporate debt, high-yield or floating bonds; and Cash. We are focused on Core and Opportunistic. On duration, we recommend a shorter term. Last are alternatives. Given the early stage of the current bull market, we think alternatives are less desirable in the growth portion of our models.

Republic Services is one of the largest domestic provider of nonhazardous waste services, as measured by revenue. The company serves 14 million customers and has operations in 41 states. The company was founded in 1996 and is based in Phoenix. Republic Services has approximately 40,000 employees. The shares are a component of the S&P 500.

Both the Nasdaq and the S&P 500 hit new highs on inflation data that came in as expected. Other economic data released today included initial jobless claims, which came to 215,000, up from last week's revised 212,000 and ahead of expectations. Ongoing unemployment rose to 1,905,000 from the previous week's revised 1,860,000; that raised the insured unemployment rate by 0.1% to 1.3%. The S&P 500 rose 0.5%, the Nasdaq gained 0.9%, while the Dow fell 0.1%.

Republic Services is the second-largest integrated provider of traditional solid waste services in the United States, operating roughly 206 active landfills and 233 transfer stations. The company serves residential, commercial, and industrial end markets. It also runs a sizable recycling operation in North America.