Key Points The U.S. economy remains somewhat “bifurcated,” with higher-income households driving most consumer spending. Key indicators like the Purchasing Managers’ Index (PMI) suggest broadening economic growth. Mid- and small-cap…
Market Reflections: Managing Risk Amid Changing Market Dynamics
Key Points The S&P 500 has rebounded sharply from its early-year decline, reaching new all-time highs and delivering over 17% returns year-to-date. U.S. Large-Cap stocks continue to outperform Mid- and…
From Volatility to Opportunity: How Capital Expenditures and Interest Rates Shape the 2025-2026 Market
Key Points The stock market has continued to rise despite concerns about tariffs and inflation. Rates are still below nominal GDP growth and future interest rate cuts are expected. Annual…
Market Reflections: What Volatility?
Key Points The U.S. stock market recovered from the lows experienced in April and has regained ground, reaching all-time highs. We expect market volatility to remain elevated for at least…
Economic Outlook: Uncertainty in 2025 Interest Rate Expectations
The Federal Reserve has begun to cut overnight interest rates despite inflation remaining above their two percent target. While lower short-term rates could provide a tailwind for the economy and…
