The Federal Reserve (Fed) enters 2026 navigating potentially constrained policy conditions as resilient growth and above ‑ trend inflation intersect with an increasingly unsustainable fiscal trajectory. Fed Chair Jerome Powell emphasized that feder
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As a wave of inclement weather sweeps across much of the U.S., investors are also navigating a seasonally important period for markets. Much like winter storms can influence travel patterns and economic activity early in the year, January’s mar
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Some years ago, I was attempting to explain the importance of risk-adjusted performance to a client who was not sure it mattered to them. They stated boldly, “I can’t eat risk-adjusted returns.” Unable to help myself and thinking I
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What Was Announced
On January 7, 2026, President Trump announced a proposal aimed at limiting large institutional investors from buying additional single-family homes. The goal, according to the administration, is simple — make i
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As the new year begins, one market theme is already attracting plenty of attention, and that is the dispersion and broadening out in the stock market that has occurred during the first two weeks of trading. After several years in which a small group
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All That Glitters…Could Actually Be Gold
Precious metals surged out of the gate to begin 2026, not dissimilar to how they closed out 2025. Gold has already made two record highs this year alone, is currently trading above $4,600
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Municipal bonds enter 2026 as a compelling option for investors: attractive yields, strong fundamentals, and structural changes that continue to reshape the market. After a volatile 2025, marked by Treasury market dislocations and record muni issuanc
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Warren Buffett’s reign as Chief Executive Officer (CEO) of Berkshire Hathaway came to a close on the last day of 2025. Buffett will be succeeded by Greg Abel, previously Vice Chairman of Non-Insurance Operations at Berkshire. Buffett stepped do
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Fourth quarter earnings season unofficially kicks off this week with a dozen banks and asset managers in the S&P 500 slated to report. Results will come from some big names, including JPMorgan Chase (JPM) on Tuesday; Bank of America (BAC), Wells
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2025 was a good year for most fixed income markets but we’re approaching 2026 with caution. All-in yields are still attractive for most markets, but spreads (the additional compensation for owning riskier debt) are low, suggesting investors are
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