Market Updates

Market Review Summary Equity Markets 3rd Quarter Review The S&P 500 rose +8.1% during the 3rd quarter.  Risk assets rallied alongside the familiar tailwind of AI-infrastructure enthusiasm and falling rates.  The Dow Jones Industrial Average returned +5.67% for the quarter and is up +10.47%... Read More →

The Federal Reserve cut interest rates by 0.25% yesterday, bringing the target range on the Fed Funds Rate to 4.00% -4.25%.  This was the first policy action since December of last year and comes amidst a challenging backdrop for central bankers highlighted by shifting... Read More →

2 weeks ago, John Nagle published a great piece addressing concerns with investing in a stock market trading @ all-time highs. As presented, evidence doesn’t justify serious consternation and history actually indicates entering markets at prior peaks portends positivity! (1, 3 & 5 years... Read More →

Investing Near ATHs The S&P 500 has captured a series of new all-time highs in 2025, closing at record levels on 18 trading days so far this year, including a flurry of highs this month.1  Yet despite the positive headlines, investor reactions tend to... Read More →

Federal Reserve Summary and Outlook As expected, the Federal Reserve held interest rates steady this week, keeping the Fed Funds Target Range at 4.25% to 4.50% for the fifth consecutive meeting.  The decision comes amidst a complex set of economic conditions that has divided... Read More →

Market Outlook Summary Equity Markets Mid-Year Summary The 2nd quarter of 2025 will go down in history as one of the wildest, most eventful quarters in capital markets.  Investors grappled with the President’s plan to re-work trade deals with everybody, all at once, using... Read More →

In the past week geopolitical volatility has intensified in the Middle East and the Federal Reserve updated its views on monetary policy, marking an eventful week as we head into the end of the 2nd quarter. Middle East Conflict The overall market reaction has... Read More →

The first five months of 2025 have been a wild ride for the bond and stock markets but in many ways resembled a Shakespearean characterization from Macbeth: “full of sound and fury, signifying nothing.” From tariff tantrums to Federal Reserve flip-flops, the anxiety of... Read More →