In markets awash in “garbage lending” and unhealthy valuations, Jeffrey Gundlach is keeping his strategy simple: load up on cash and stay away from private credit.
As happened in the previous era, several forces are combining to keep inflation alive. Today I want to review what’s happening. This won’t be a fun letter to read, but it’s important. You need to prepare for what could be coming.
We were in the camp that the Federal Reserve (Fed) should have reduced interest rates during the first half of the year, taking advantage of the underlying disinflationary path during that period.
Bankruptcies are a routine event for companies relying on large amounts of high-yield debt for their capital. Investors reserve much of the high income they receive in good times for the inevitable losses in bad times.
My first experience with a major economic/stock market bubble was the dot-com bubble of 1998-2000. Many investors forget that the Nasdaq and S&P 500 Index bubble that ended March 10, 2000, was the first bubble in a series of three bubbles.
This year, Americans will give more than $500 billion to charity, according to the National Philanthropic Trust. While meeting philanthropic goals is important for donors, these gifts may also provide valuable tax benefits.
Corporate bonds typically appeal to those seeking higher yield potential relative to safer government debt, but current market uncertainty may keep fixed income investors from making the move. However, strong fundamentals are also underpinning corporate bonds, which only add to their appeal despite ongoing risks.
Chinese equities have performed strongly this year amid a general re-rating driven by easing geopolitical tensions, continued government stimulus and the global AI-related buildout. Portfolio Managers Andrew Mattock, CFA, and Winnie Chwang explain the drivers of the rally and the opportunities and challenges ahead.
As global labor arbitrage becomes less viable and access to cheap labor in emerging markets continues to narrow, businesses are increasingly turning to AI as a domestic solution for cost control and productivity gains.
As the final quarter of 2025 begins, it's a critical moment to look back at the preceding three quarters. Each year carries its own narrative, and 2025 was no exception. Markets trended downward early in the year owing to trade-talk-driven uncertainty, reaching a crescendo in volatility following the unexpected announcement of significant tariffs in April.
Consumers are in a sour mood over inflation and jobs as major retailers prepare to report earnings and offer their outlooks for the holiday shopping period.
Now that government workers are back in the office, the data flood is coming. Here are the four reports we’re most excited for, why they matter, and what we last heard from them.
Though we are getting limited amounts of economic data during the federal government shutdown, the official and private sector data we are receiving generally paints a positive picture for U.S. economic activity.
Many may look at a headline performance figure like “the bond market is up 7%” and understandably feel encouraged. On paper, that appears to be a solid result. But nominal returns alone rarely tell the full story.
When evaluating the integration of gold and bitcoin into their investment strategy, investors should carefully examine both their similar properties and fundamental differences. These assets are frequently positioned as alternative value repositories, particularly valuable during periods of macroeconomic volatility and uncertainty.
Markets don’t sleep over the holidays, but they do slow down. Historical trading patterns show consistent liquidity shifts from late November through early January.
Bitcoin fell below $95,000 for the first time in about six months as a bout of risk aversion sweeping across markets saw investors pull nearly $900 million from funds investing in the token.
To be sure, it’s not a point for investors to get carried away with. But it is noteworthy in the current environment. RSPF has exposure to the booming prediction markets space. That’s likely an underappreciated factor. And that’s because of the ETF’s status as a home to a slew of old-guard bank st
Mike Wilson was uneasy, just as he likes it. It was April, and President Donald Trump’s trade war had roiled financial markets, making Morgan Stanley’s chief US equity strategist a sought-after TV guest.
Blackstone Inc. has appointed former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe as it prepares to invest $500 billion there over the next 10 years.
Imagine I get extremely rich like Michael Burry on a contrarian short position. I’d immediately cash in my chips (but I wouldn’t tell anyone I was “semi-retiring” from the game).
Berkshire Hathaway Inc. sold ¥210.1 billion ($1.4 billion) of yen-denominated bonds on Friday at a spread which was lower compared with its previous deal as global investors flock to Japan.
Looking ahead, markets are likely to remain on edge as investors weigh the fallout from the shutdown, mounting layoffs, and signs of waning consumer confidence against hopes for continued monetary policy support.
We discuss Figure’s $1 billion fundraise, XPENG’s (XPEV) humanoid launch, the humanoid market, and how Elon’s $1 trillion pay package fits into this.
On the latest ETF 360, VettaFi’s Cinthia Murphy interviewed GMO Asset Allocation’s Asset Allocation Strategist Catherine LeGraw. The two discussed quality, the speculative market, and value dislocation.
This CE-eligible webcast gives RIAs a repeatable, compliance-ready playbook to keep proceeds invested — while avoiding boot, meeting IDs, and setting client expectations.
Join the experts at Eaton Vance for an educational webcast exploring the overall macro picture and why an active approach to global fixed income that goes beyond the Agg could diversify portfolios and drive results.
While AI applications dominate the conversation, a less-visible hardware trend is already delivering results. Key photonics companies are posting strong earnings, validating the theme for investors in AI and robotics and automation ETFs.
China’s collapsing investment is as unprecedented as it is hard to explain. A plunge estimated at more than 11% in October from a year earlier was the worst single-month performance since the initial Covid lockdowns at the start of 2020, official data showed on Friday.
There’s one thing Warren Buffett seems to credit for his success more than anything else: luck. He’s says he’s lucky to have spent most of his life in Omaha, raising a family and building a business smack in the middle of the country.
Investors are pouring money into active ETFs, but a closer look reveals a migration of assets into the wrapper instead of a resurgence in alpha-chasing bets.
The retirement landscape in America is undergoing a quiet revolution, according to Vanguard’s inaugural "How America Retires" report.
As the year winds down, many investors focus on year-end charitable giving and tax planning. Finding a charity and donating money is the easy part. Taking slightly different approaches to gifting can yield dramatically different results from a tax perspective.
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
On the Money Metals podcast, host Mike Maharrey sits down with Philip Newman, founding partner and managing director at Metals Focus in London. Newman explains that Metals Focus, launched in 2013, is a pure precious-metals research house; it does not trade.
US equities dropped at the open, poised to snap a four-session winning streak, as investors continue to grapple with a lack of US economic data despite the end of the government shutdown.
A bipartisan group of senators struck a deal on November 9th to re-open the government, with seven Democrats and one independent joining 52 of the 53 Republicans to reach the elusive 60-vote supermajority needed to move forward.
Taiwan-based insurers are gearing up for a big overhaul in their regulatory framework. The transition to the Taiwan Insurance Capital Standard (TW-ICS) is slated for January 2026, though some provisions will have a lengthy phase-in period.
Are U.S. stocks approaching bubble territory or is the bull run able to press on? Active investor Tony DeSpirito is optimistic but says pockets of bubble-like exuberance could create mispricings ― making it “an exciting time for stock selection.” He suggests three areas that may be ripe for the picking.
Hints of reforms to ease foreign-ownership limits in Saudi Arabia set off the sharpest rally for its equity market in years this autumn, reigniting investor curiosity.
The Fed can turn QE back on like they did in the latter part of 2019, most likely by buying T-bills. It is important to note that this would be purely a technical mechanism for the funding markets and not a dual mandate monetary policy consideration.
Despite these successes, many finance executives struggle to quantify the actual return on AI, as the required spending on development, data clean-up, and rigorous testing is immense and mostly paid upfront.
When we look at broader multi-asset portfolios that tap into real assets, including digital assets, as well as inflation fighters like income securities and real return strategies, we find that they have delivered strong results to the debasement-trade crowd.
This technology is moving quickly, with most businesses only in the early stages of understanding its capabilities. Whether and how fast AI can unlock new, transformative, lucrative idea generation or unleash a force in the U.S. economy similar to the “China shock” – the period in the early 2000s when outsourcing shrunk the U.S. manufacturing base and structurally changed the U.S. labor market – is yet to be seen.
According to a survey conducted by BlackRock and YouGov, ETF adoption continues to expand while also seeing a shift demographically.
The prolonged government shutdown has caused significant delays in official statistics, which has amplified the importance of private reports. This video highlights a handful of secondary reports from the week of November 3rd-7th.
Join the experts at WisdomTree for an in-depth look at the broader macroeconomic picture and a product due diligence session covering practical strategies for dealing with the challenges ahead
The nuclear energy sector is experiencing a powerful revival, driven by macroeconomic shifts and technological innovation. For financial advisors and investors, understanding these trends is key to identifying investment opportunities as the nuclear energy landscape evolves.
Last week’s economic data sent mixed signals. Consumer sentiment plummeted to a near-record low on economic anxiety, and the manufacturing sector continued its long contraction.
The Federal Reserve cut its Fed Funds rate by 25 bps, the 10-year Treasury yield went up 10 bps, and the S&P 500 ended the month of October up over 2%. Let’s unpack those results.
