As the first quarter comes to a close, it’s clear that equity markets have endured a difficult stretch. The strong momentum that drove a record‑setting rally early in the year faded quickly as concerns over artificial intelligence (AI) spendi

Earnings drive stock prices over time, but not all the time. Clearly, we’re in an environment where stocks are moving on developments in the Mideast and related moves in oil prices and interest rates. At the risk of writing about something that

Perspectives on The Energy Sector and Underlying Sub-Sectors

Energy cycles have a way of rewarding investors who show up early, while punishing those who assume the next upturn will look exactly like the last one. Supply disruptions caus

As the U.S.-Iran conflict and de facto closure of the Strait of Hormuz enters its fourth week, market participants continue to search for some blue sky through the fog while remaining sensitive (in both directions) to fluid headlines flowing out of W

Dollar Grows Stronger

The recent appreciation of the U.S. dollar (USD) against most currencies reflects investors’ assessment that the U.S. economy offers a uniquely strong combination of relative growth resilience, higher return

Corporate credit markets have become unsettled about the potential for advanced agentic AI tools from firms such as Anthropic and OpenAI to automate functions across legal, analytical, marketing, and sales workflows, effectively targeting the softwar

Raise your hand if you’ve encountered this headline recently: “Market Drops Sharply on Fears of Wider Mideast War”. What about this one: “Stocks Fall as Oil Prices Hit New Highs”? Or this: “Wall Street Sees Volatil

The ongoing situation in the Middle East continues to drive markets in the short term. Oil production and shipping channels remain the focal point from an investor’s perspective as surging crude prices have led to concerns about the potential f

All Eyes on Iran and the Strait of Hormuz

Investors’ attention remains squarely focused on Iran, as it should be. West Texas Intermediate (WTI) crude is trading near $100 per barrel, more than $40 above the recent mid-December lo

Lower oil “intensity” — less oil used per dollar of economic output — means energy shocks have a smaller impact on growth than in past decades. And from the supply side, the U.S. is now a net exporter of petroleum products. Be