Two Fed Eras: Greenspan’s Legacy and the Future Under Warsh
Alan Greenspan once said “since I’ve become a central banker, I have learned to mumble with great incoherence.” Greenspan, who passed away recently at the age of 100, served as the Chair of the Federal Reserve from 1987 to 2006 and became one of the most influential economic figures of the 20th century.1 As we […]
Special Update: New Peace Deal Framework and What It Means for Investors
The U.S. and Iran announced a preliminary agreement intended to end the four-month conflict that has weighed on the global economy. Financial markets have reacted positively to this development, with the stock market climbing, oil prices falling, and interest rates declining. How should investors interpret this agreement and what does it mean for portfolios? The […]
Making Sense of Recent Market Volatility
The stock market has experienced historically strong returns over the past quarter, so the latest episode of volatility may raise questions among investors. The Nasdaq experienced its largest single-day fall in a year, with the index declining 4.2% on Friday, June 5. Counterintuitively, the drop followed a strong jobs report, which is good news for […]
Portfolio Perspectives: Tech Stocks, IPOs, and Higher Interest Rates
The S&P 500 recently surpassed 7,500 for the first time, marking another milestone in a year that has seen many new all-time highs. This is positive for investors, especially because several sectors have contributed to this rally. These trends have also fueled enthusiasm for IPOs, particularly ones related to artificial intelligence, after years of relatively […]
How the Fed Under Kevin Warsh May Impact Markets
The Federal Reserve plays a central role in financial markets and the economy, and its importance has only grown in recent decades. From the 2008 global financial crisis to the inflationary period of the past several years, investors have followed every Fed decision carefully. So, when leadership changes occur at the Fed, they naturally capture […]
OPEC, Tariffs, and All-Time Highs: Macro Events and Long-Term Investing
For much of the history of the stock market, investing was primarily about individual stocks and bonds. Over the past few decades, however, macroeconomic developments have increasingly influenced markets. Significant events, whether related to central bank policy, geopolitics, or global trade, now affect nearly all stocks across the market, regardless of their individual stories. For […]
The Bull Market Cycle: Investment Lessons and the Wall of Worry
It has now been more than three-and-a-half years since the bull market began in October 2022. At that time, inflation was rising at its fastest pace in fifty years, the Fed was hiking interest rates, and ChatGPT was still a month away from being released to the public. Since then, the S&P 500 has more […]
Housing Market Update: Impact on the Economy and Financial Plans
For many households, a home represents not only where they live and raise their family, but also their largest financial asset, monthly expense, and source of debt. From a broader economic perspective, the housing market is deeply intertwined with consumer confidence and economic growth. So, while investor attention has been on geopolitics and market volatility […]
A Balanced View of Inflation and Earnings as the War in Iran Evolves
The conflict between the United States and Iran continues to evolve, with markets reacting to each new set of headlines. A ceasefire announcement initially eased tensions and pushed oil prices lower, with Brent crude falling into the $90 range. However, the subsequent breakdown of peace talks sent prices back above $100 per barrel, reminding investors […]
Global Portfolio Perspectives on the Dollar, Gold, and International Stocks
Global events have been at the center of financial market activity, with high oil prices, geopolitics, and new tariff rules capturing investor attention. Behind many of these trends, however, is the level of the U.S. dollar. While currency movements have received less attention in recent weeks, they continue to have important effects on portfolios by […]