Unsurprisingly, markets have shown more volatility in 2025 after back-to-back years of 20%+ returns. The S&P 500 has already fallen more than 5% from its all-time high amid concerns over economic growth, inflation, and tariffs. While a deeper sell-off is possible, history suggests that in over 65% of cases, the market fully recovers without going […]
Weekly Client Letter – March 10, 2025 Read More »
Last Week’s Summary S&P 500 Index fell 3.06% International Equities rose 2.70% Emerging Markets gained 2.91% U.S. 10-Year Treasury Yield rose to 4.3% The U.S. added 151k jobs in February, below 160k estimate U.S. unemployment rate rose to 4.1% Initial Jobless Claims fell to 221k ISM Services Index rose to 53.5 What to Watch for
Market Summary – March 10, 2025 Read More »
The seven largest tech giants in the S&P 500, known as the “Magnificent Seven,” have been a major force behind the market’s gains in recent years. However, this year tells a different story, with the group down 14% and entering a correction, underperforming the broader market. This reversal serves as a reminder that higher upside
Weekly Client Letter – March 3, 2025 Read More »
Last Week’s Summary S&P 500 Index fell 0.95% International Equities fell 1.78% Emerging Markets dropped 3.97% U.S. 10-Year Treasury Yield fell to 4.21% U.S. 4Q GDP rose by 2.3% Durable Goods Orders rose by 3.1% Initial Jobless Claims rose by 242k Core PCE Price Index rose 0.3% MoM What to Watch for This Week M,
Market Summary – March 3, 2025 Read More »
With tariffs and trade policy back in the headlines under a new Trump administration, it’s worth revisiting what happened in 2018-2019. During President Trump’s first term, the last trade war cycle brought significant volatility, with markets nearly falling into a bear market after the first escalation. Each new tariff announcement triggered sharp swings, and after
Weekly Client Letter – February 24, 2025 Read More »
Last Week’s Summary S&P 500 Index fell 1.63% International Equities rose 0.40% Emerging Markets rose 1.80% U.S. 10-Year Treasury Yield fell to 4.44% Initial Jobless Claims rose to 219k Leading Index fell to -0.03% S&P Global US Manufacturing PMI fell to 49.7 U. of Mich. Sentiment fell to 64.7 U. of Mich. 1-Yr Inflation stayed
Market Summary – February 24, 2025 Read More »
International stocks are off to their strongest start in a decade, outperforming the S&P 500 in early 2025 as investors seize on valuation gaps and fresh catalysts. This rotation underscores the importance of global diversification, ensuring portfolios are positioned to capture opportunities beyond domestic markets. Avoiding home-country bias remains key to long-term portfolio resilience and
Weekly Client Letter – February 18, 2025 Read More »
Last Week’s Summary S&P 500 Index rose 1.49% International Equities rose 2.76% Emerging Markets rose 2.80% U.S. 10-Year Treasury Yield fell to 4.47% Initial Jobless Claims fell to 213k CPI rose to 3.0%; Core rose to 3.3% PPI rose to 3.5%; Core rose to 3.6% Retail Sales Advance fell to -0.9% Industrial Production fell to
Market Summary – February 18, 2025 Read More »
The year 2024 delivered another extraordinary chapter for equity markets. The S&P 500 rallied, fueled by optimism around Federal Reserve rate cuts and cooling inflation, and clarity from the highly anticipated presidential election results. This marked the second consecutive year of gains exceeding 20%. However, prolonged rallies often come with heightened risks, as history reminds
4th Quarter Market Commentary “From Rally to Reality” Read More »
The rising U.S. budget deficit has become a major concern, with 2024 alone seeing a $2 trillion increase. This gap must be funded either by cutting spending, raising revenue, or borrowing more – resulting in a surge of new Treasury debt. If borrowing continues to outpace economic growth, we could face higher interest rates, which
Weekly Client Letter – February 10, 2025 Read More »
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