For decades, the U.S. dollar’s dominance has rested on two pillars: America’s deep capital markets and its global security alliances. Today, both are under strain.
Economic growth, earnings performance, and rising fiscal spending coupled with "America First" policies are driving international stock markets.
The EV shakeout is underway. When the dust settles, only a few players will remain. Many more will be relegated to the scrapyard of failed ambitions.
At the start of the year, our Investment Strategy Committee outlook was positive for both the economy and the equity market, supported by strong consumer, labor market, and corporate fundamentals.
There’s a lesson for financial advisors in this story. If you demonstrate a genuine intention to engage and connect with your female clients, it will build relationships that could drive the growth of the business for years to come.
On February 19, 2025, the Fed made a confounding statement about QT, aka balance sheet reduction. Per its latest FOMC minutes: “several participants suggest halting or slowing balance sheet reduction pending debt ceiling resolution.” Might the Fed be offering investors a liquidity warning cloaked as a reaction to a fiscal crisis?
I will again join forces with Ed Easterling of Crestmont Research to explore this data more deeply. Currently we have several powerful trends that have combined to create a nirvana-like market.
The U.S. has poured more than $120 billion into Ukraine since its war with Russia began three years ago, but with a new administration in Washington, that support is grinding to a halt.
The European Central Bank will likely continue to cut interest rates, but future decisions could be more contentious.
On the latest edition of Market Week in Review, Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, discussed how markets are reacting to U.S. trade policy uncertainty.
The euro is set for its best weekly performance in 16 years after Germany’s historic pledge to ramp up spending for defense and infrastructure.
Italian Prime Minister Giorgia Meloni is getting cold feet over a proposed €1.5 billion ($1.6 billion) deal with Elon Musk’s SpaceX, according to Bloomberg News. As well she might.
Q4 company earnings offered a lot to cheer at the start of the year, even as U.S. stocks contended with bouts of volatility.
Euro-area bond yields inevitably leapt like a salmon as Germany unleashed a fiscal bazooka, but compared to previous fixed-income tantrums, it’s not the stuff of all-night summits.
One of the most referenced valuation measures is Dr. Robert Shiller’s Cyclically Adjusted Price-Earnings Ratio, known as CAPE.
As daily headlines drive volatility, the market has avoided overreacting thus far.
With U.S. tariffs on Mexican and Canadian imports now in effect, yesterday’s risk-off market mood continued today. Both Canadian and U.S. equities modestly sold off.
We view quarterly earnings season as a critical checkup on how markets are handling current challenges.
Imagine having a reliable, automated system that consistently brings high-quality leads to you – without the need for constant hustle.
Understanding copyright compliance rules can help you protect your business and confidently share content that aligns with both legal and ethical standards. Let’s clear up some common myths to keep your financial marketing on the right track.
Germany’s extraordinary spending plans are shaking up the region’s markets, powering European equities past US peers this year and reviving the euro from the brink of parity with the dollar.
Unlike most of the rest of the world, I will attempt to minimize all there is to say about the beginning of the next 4 years, as the persistent yack and what to make of it reverberates in all corners of the financial globe.
A holistic approach may help insurance investors navigate an expansive opportunity set.
In this primer we define small cap growth funds, provide practical suggestions on how to invest in them, and explain why we believe they are a strategically important asset class.
Heightened economic uncertainty—propelled mainly by trade policy—has unearthed weakness in the equity market, with most pain felt under the market's surface.
Many major stocks connected to artificial intelligence have lost their luster of late, but perhaps none more so than Microsoft Corp.
We wrote in last month's letter that the U.S. stock market had to meet lofty earnings expectations to maintain its strong performance relative to global benchmarks, while the latter had a lower bar because of considerably cheaper valuation multiples and higher dividend yields.
Just recently, S&P Global released its 2026 earnings estimates, which, for lack of a better word, have gone parabolic. Such should not be surprising given the ongoing exuberance on Wall Street. Unsurprisingly, rationalizations justify illogic when too much money is chasing too few assets.
The central question we want to address in this note is how to quantify how “price sensitive” insurance buyers should be, and in the context of insurance, what is the “price” they should be sensitive to?
By acknowledging that we are not always rational and are subject to cognitive biases, we can better understand market anomalies and develop strategies to mitigate – and even take advantage of – their impact.
Today we are going to revisit that matrix updated through 2024. We will see what we got right and wrong, what further inferences we can now make and why I think it confirms my general shift in market strategy over the past few years.
More than a century ago, then-Representative William McKinley pursued an aggressive tariff strategy that sought to protect American industry and reduce reliance on foreign imports. The McKinley Tariff Act of 1890 raised import duties to an average of 50%, one of the highest levels in U.S. history.
Many independent firms and Registered Investment Advisors aspire to move upmarket, targeting wealthier clients who demand more sophisticated financial solutions.
Tencent Holdings Ltd. became the latest tech company to unveil or enhance an AI model intended to eclipse DeepSeek, joining a spate of rollouts since the startup’s emergence energized the US-China technology race.
Emerging markets were swept up in the global equities storm Friday, with Asian stocks taking the heaviest beating after President Donald Trump’s latest tariff threats.
A week-long rout in Bitcoin deepened amid the recent broader retreat from risky assets in the wake of US President Donald Trump’s tariff threats and crypto sector turmoil, marking a dramatic reality check for one of the most popular Trump trades.
Investors hoping that Nvidia Corp.’s earnings would rejuvenate the artificial intelligence trade didn’t exactly get the report they wanted.
Nvidia Corp., the chipmaker at the center of an AI spending boom, delivered good-but-not-great quarterly numbers on Wednesday, drawing a muted response from investors accustomed to blowout results.
If Trump tariffs Chinese, European, or Canadian products, those countries tend to enact counter-balancing tariffs on U.S. products. Such slows demand for goods and services between all parties, again a deflationary process.
We recently sat down with Justin Owens, our senior director and co-head of strategic asset allocation, to discuss the next phase of liability-driven investing (LDI) and the key trends driving this evolution. Below is a recap of our conversation.
Nvidia, the biggest AI chip firm, reports Wednesday with investors watching sales of Nvidia's newest chips and worried about cheaper competition from systems like DeepSeek.
We explore drivers that may contribute to continued outperformance of European stocks since the bull market began in October 2022.
Are European equities poised for a sustained recovery relative to U.S. equities? We outline five reasons why, as long-term investors, we continue to favor U.S. equities over European equities.
When constructing a target-date fund (TDF) glide path, providers have many decisions to make, such as what asset classes to include, when to include them, and how much to allocate to each.
With our most reliable valuation measures more extreme than both the 1929 and 2000 market peaks, we continue to believe that the stock market is tracing out the extended peak of the third great speculative bubble in U.S. history.
None of us outside Trump’s inner circle know what the real goals are. What looks like needless chaos might lead to benefits that outweigh the costs. One potential benefit is revenue. Could the tariffs produce significant tax revenue that would help reduce the federal debt? The president seems to think so.
This week has been both intense and inspiring as I attended the YPO Edge event in Barcelona, Spain. I had the privilege of experiencing numerous thought-provoking presentations, from the transformative impact of AI and disruptive technologies on businesses, to the vital role of health and wellbeing in fostering a learning-driven workforce.
For two years in a row now, the smallest endowments have significantly outperformed their much larger peers. This is causing some to question if the typical endowment model is still working.
The European stock market’s rally to record highs has caught many strategists by surprise, leaving them racing to catch up and cautious on further gains.
Europe has real risks and real bargaining tools in a trade confrontation.
