Wall Street narratives rarely stay still, and recent weeks have underscored how quickly sentiment can change as perceived new information challenges the status quo. Widely discussed anxiety over a potential artificial intelligence (AI) bubble fueled

After a stellar 2025 in which emerging market (EM) equities returned 34%, 2026 is off to a good start with the MSCI EM Index up 7% year to date. Last year’s near doubling of the S&P 500 return was driven mostly by a weakening U.S. dollar, w

Key Points:

• In an April 2025 speech¹, Kevin Warsh laid out a few important concepts that will likely define his leadership goals at the Federal Reserve (Fed) if he is confirmed as expected.

• According to Warsh, the Fed ha

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

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

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

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

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

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

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