In this article, I will discuss another advantage of using the actuarial approach for retirement planning — helping your clients determine when they can afford to make big-ticket item purchases.
Emerging-market stocks rose for a second day, with the benchmark gauge heading for a three-week high amid optimism over corporate earnings.
The “Sell America” trade that gripped markets this month has left a potentially lasting dent in investors’ willingness to hold the US government’s longest-maturity debt, a mainstay of its deficit-financing toolkit.
Chief Economist Eugenio J. Alemán discusses current economic conditions.
Are you a “speculator” or an “investor”? This is an essential question that every individual deploying capital into the financial markets must answer. The reason is that how you answer that question determines how you should behave during market cycles.
Historically the United States dollar strengthens when U.S. Treasury yields rise. But the reverse happened in April after the White House announced widespread tariffs.
Five pivotal U.S. economic considerations, including tariffs, monetary policy, fiscal policy, debt overhang, and demographics, are aligning to depress economic growth for the balance of this year and into 2026.
Former Federal Reserve Vice Chair Richard Clarida shares three charts highlighting possible macro inflection points in the business cycle: from growth and inflation to debt and labor.
There's a tectonic shift unfolding in global finance—subtle in appearance, but profound in implication. The traditional signposts of market anxiety—stocks, bonds, even crypto—are being bypassed in favor of something far older: gold.
This week's economic data revealed a split in the housing market. New home sales unexpectedly surged while existing home sales declined.
A well-planned defensive strategy can position equity portfolios to be resilient in a very harsh market environment.
US stocks pared earlier losses with big technology stocks driving gains and hopes for tariff deals overshadowing concerns over deteriorating consumer sentiment and mixed corporate earnings.
Jerome Powell’s determination to ensure any jump in prices stemming from Donald Trump’s tariffs don’t spread through the economy has earned him the moniker “Mr. Too Late” from the president.
A three-day US stock rally took a breather amid deteriorating consumer sentiment and mixed corporate earnings that raised concerns about the impact of global trade war.
Treasuries jumped after comments by a Federal Reserve official bolstered odds that the central bank will cut interest rates as early as June.
Asia-Pacific will likely be the hardest hit region from a steep increase in U.S. tariffs.
Risk-assets struggled amidst extremely volatile price action as investors weighed the probabilities of tariffs hitting profits and valuations.
How our open platform of best-of-breed managers allows us to distill complexity in the face of market turbulence by tapping into their collective intelligence.
A historic sell-off enhances value, with high yields, strong fundamentals, and ample reserves mitigating policy risks.
Uncertainty surrounding trade policy is a key driver of our forecast this quarter, which includes an increased probability of a recession.
The bond market has been extremely volatile the past couple of weeks since the introduction of global tariffs by the US. Bond yields have sold off almost 50 basis points, and today we'd like to examine why did that occur, what's next, and how should investors think about duration in this environment?
President Trump has been a vocal admirer of China’s Great Wall, built by the country’s emperors to protect their territory from outside aggression. In his first term, he compared his plan to build a border wall with that historic structure.
Coming off a wild ending to a disappointing first quarter, investors must navigate unsettled capital markets and decipher a wave of incoming policy news.
Chief Investment Officer Larry Adam notes with volatility on the rise, maintaining a long-term view is key.
While gold has offered some protection during stock market downturns by either rising or declining by less than equities, its current high price levels and historical patterns suggest that future returns may be limited.
Margin debt is the amount of money an investor borrows from their broker via a margin account. Margin debt is often seen as a measure of investor sentiment and risk appetite. High levels of margin debt can signal confidence, but extreme spikes may also indicate excessive speculation, increasing the risk of market instability.
Theoretical forecasts and earnings announcements may provide initial insights as to the impact of current tariff proposals, although estimates may be imprecise.
Despite mounting evidence of disinflation and a weakening economy, Chair Powell’s tone remains too hawkish—and I believe that’s a mistake. The latest inflation readings came in soft, money supply growth continues to undershoot, and even jobless claims are inching higher.
Practically every financial meltdown or crisis can be traced back to a misunderstanding of which assets are “risk-free.” Investors think they have a risk-free asset — it could be a mortgage-backed security, shares in a Bernie Madoff fund, Greek debt — and are surprised when it turns out not to be.
For simplicity’s sake, let’s boil down the multiple questions facing Apple today into just one: How much are Americans willing to spend on an iPhone?
Andrew Leigh is a very good storyteller, making “How Economics Explains the World” an easy and fun read. In the hands of someone unfamiliar with basic economic reasoning, it might lead them to pursue economics further. Even if you’re farther along in your economic education, we almost always benefit from relearning things we already know, but in a new light.
Back in 1980, fear persuaded me that gold was a sure thing. I forgot an essential caveat—there are no sure things in investing.
A global trade war can’t possibly be good news for a city-state whose exports and imports add up to more than 300% of its gross domestic product. Yet there are good reasons to believe that real estate in Singapore may offer a sanctuary to investors fleeing extreme anxiety.
A divide has recently developed between soft and hard economic data. At a time when conditions are changing rapidly, understanding the difference between the two is terribly important.
Eitelman began by assessing the health of the U.S. economy through hard and soft data. He explained that hard data refers to measures of actual spending and economic activity, while soft data refers to how companies and consumers respond to surveys.
We’ve expected a recession for more than a year now. Simply put…the Era of Easy Everything is Over. Expanding deficits and easy money (that have lifted the economy since COVID) are no longer with us. At the same time, tariff negotiations have created an unbelievable amount of uncertainty.
U.S. defensives and international lead.a
Compare corporate and municipal bonds, including risks, returns, and tax benefits. Learn which bond type fits your investment goals.
These are scary times. No surprise, the typical advice is to stay the course — that it will all work out fine — but those near retirement should take heed.
As we have learned repeatedly, the Fed will take extensive emergency measures if it perceives liquidity problems. Even above their congressional mandated objective of managing employment and prices, the Fed's top priority is preserving the banks.
Inflation risk has been a significant topic of discussion in the mainstream media for the last few years.
In nominal terms, the yellow metal set multiple new all-time highs this week, exceeding $3,300 an ounce for the first time ever on Wednesday. And on an inflation-adjusted basis, gold also notched a new record price, surpassing the longstanding record set in 1980.
Today we are going to look at some of the uncertainties in our world and then explore some ways to gain a little certainty.
President Trump’s tariffs bring déjà vu for the euro-area economy: it’s back to slower growth and lower rates.
U.S. trade policy has evolved significantly in a matter of weeks.
The first quarter of 2025 marked a significant departure from the preceding two years, which had been characterized by an improving global economy and correspondingly positive market returns. Market performance in Q1 was dominated by abrupt, short-term policy shifts rather than longer-term economic trends, and tariffs became the foremost concern for market participants.
Retail sales surged as consumers seemingly bought ahead of tariffs while a volatile stock market experienced a sharp mid-week sell-off.
While the April 2 tariff announcements were more severe than anticipated, Vanguard’s active fixed income managers were well-prepared for the subsequent market reaction.
Rapid U.S. policy changes pose challenges for investors accustomed to a global financial system anchored in U.S. markets and assets.
In this week’s installment of “Three on Thursday,” let’s explore some of the dynamics surrounding the United States dollar. In an era of inflation, massive debt, large deficits, and threats of tariffs, there are persistent rumors circulating that the dollar is at risk of losing its reserve currency status.
