Category: Investments
Q4 2025 Commentary: What Really Drove Markets
The third quarter of 2025 delivered robust equity and bond returns, alongside key shifts in Fed policy, GDP growth, and labor market revisions. U.S. and global markets gained momentum as AI spending surged and the Federal Reserve began easing rates. Still, questions remain about inflation, job growth, and long-term valuations. Explore the data and what it means for diversified portfolios.
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Reflections on Q3-2025: Economic Growth with a Twist
The third quarter of 2025 delivered robust equity and bond returns, alongside key shifts in Fed policy, GDP growth, and labor market revisions. U.S. and global markets gained momentum as AI spending surged and the Federal Reserve began easing rates. Still, questions remain about inflation, job growth, and long-term valuations. Explore the data and what it means for diversified portfolios.
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Reflections on Q2-2025: A Quarter of Surprises—and Strength
As we look back at Q1-2025, Tariffs, trade wars, and global diversification are all in the mix. In our Q1 commentary, we talk about all of these.
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Reflections on Q1-2025: Tariffs, Trade Wars, and Global Diversification
As we look back at Q1-2025, Tariffs, trade wars, and global diversification are all in the mix. In our Q1 commentary, we talk about all of these.
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Q4 2024 in Focus: Economic Soft Landings and Stock Market Highs
Well, 2024 is in the books and what a year it was. It was full of political and economic events, many of which were unexpected, just like every other year.
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Q3 2024 Market Commentary
With decreasing inflation but a slowing labor market, the Fed eased monetary policy by cutting the Fed Funds rate by 50 bps
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Q2 2024 Market Commentary
The overall economy remains in a relatively good position, though some cracks may be starting to appear. If we talk about economic growth, the most recent GDP numbers showed a year over year increase of 2.9%, which is above trend growth of 2%.
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Q1 2024 Market Commentary
For at least the last year we have spoken about the three P’s of Federal Reserve interest rate policy: pace, pause, and pivot. The Fed continues to pause, trying to strike a balance between a resilient economy and sticky inflation, not signaling any rate reductions until they are comfortable that inflation has met their targeted 2% level.
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Q4 2023 Market Commentary
2023 by the numbers Forecasters don’t have a working crystal ball At the end of each year, it is common for economists and market strategists to make their predictions for the upcoming year. While we are confident that the people making these predictions are indeed intelligent people with good intentions, it doesn’t change the fact […]
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Q3 2023 Market Commentary
Fitch Ratings downgraded US government credit rating On August 1, 2023, Fitch Ratings downgraded the US government’s credit rating to AA+ from AAA citing a “steady deterioration in standard of governance” over the past 20 years, highlighting this was more of an erosion vs. anything that suddenly caused this change. For reference, Fitch Ratings is […]
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Q2 2023 Market Commentary
In Memory of Harry Markowitz We pay our respects to individuals who’ve had an enormous impact on how we invest, and Harry Markowitz was one of those people…
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Q1 2023 Market Commentary
March Madness The March madness we’re referring to relates to the banking crisis we witnessed in March with the collapses of Silicon Valley Bank and Signature Bank in the US to Credit Suisse being acquired by UBS…
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Q4 2022 Market Commentary
2022 In One Word: Inflation Inflation is not an issue in just the US, but one that is problematic globally and central banks across the globe have been increasing interest rates…
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