President Xi Jinping heads into China’s biggest political huddle of the year with his economy finally getting back some swagger. Donald Trump’s rising tariffs will test Beijing’s ability to sustain that momentum.
For more than half a century, Warren Buffett has penned annual letters that chronicled economic and market shifts while underscoring Berkshire Hathaway's steady philosophy yet ever-evolving outlooks. With Buffett's 2024 letter freshly published, we take this opportunity to contrast his latest views with the remarkable continuity of his investment philosophy.
Despite GDP figures indicating continued expansion, weakening consumer confidence and persistent inflation concerns speak to uncertainty.
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.
Starting in 2025, many non-spouse beneficiaries of inherited retirement accounts must begin taking annual minimum distributions. Our Bill Cass details several strategies and explains why it’s important to seek advice.
With major US policy change unfolding, flexibility across and within asset classes will be critical.
Portfolio Manager Andrew Mattock, CFA, explains the importance of assessing U.S. tariffs as a component among external variables that can influence, rather than drive, investment returns.
Looming U.S. and global policy shifts may potentially rattle markets, but a tactical and flexible approach could help investors navigate risks and opportunities regardless of how events play out.
The decision to drill for oil is not primarily driven by government mandates or regulatory pressure, but rather by market forces.
We delve into the unprecedented level of equity risk investors are taking, the record-high uncertainty measures facing further impacts from deglobalization, and the benefits of maintaining a diversified portfolio through it all.
The world’s biggest asset manager is finally allowing Bitcoin into its $150 billion model-portfolio universe.
Investors in US government bonds are wrapping up their biggest monthly gain since July as the Federal Reserve’s preferred gauge of underlying inflation rose at a tepid pace in January.
Should you avoid lower-rated, riskier investments like high-yield corporate bonds or bank loans? Not necessarily, but you should understand the risks.
An aggressive U.S. tariff regime will come down hard on major economies.
The long-anticipated “infrastructure week” has finally arrived. This is a cornerstone of the administration’s agenda.
The fourth quarter 2024 earnings season more-or-less wraps up this week with the final trickle of retailers coming in, as well as the highly anticipated report from Nvidia which was out yesterday afternoon.
Measuring the effectiveness of ESG-labeled bonds can be a challenge, particularly with “outcome bonds,” which have specific environmental or social goals but lack standardized assessment criteria.
In the report, John Kerschner, Head of US Securitized Products & Portfolio Manager, and John Lloyd, Lead for the Multi-Sector Credit Strategies & Portfolio Manager, review the best-performing U.S. fixed income sectors of 2024 – what worked, what didn’t, and what it means for investors going forward.
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.
The overall size of the municipal bond market is over $4 trillion. While this a very large market, an investor’s personal situation combined with the nuances of the municipal bond market can sometimes make it feel much smaller.
Senator Cynthia Lummis (R-WY) takes a pivotal role in shaping how America approaches cryptocurrency and blockchain technology.
On this week’s episode of ETF Prime, VettaFi’s Todd Rosenbluth shares advisor polling data on fixed income.
The U.S. economy remains structurally productive. American Economic Exceptionalism is powered by innovation and labor flexibility.
We explore drivers that may contribute to continued outperformance of European stocks since the bull market began in October 2022.
In today’s competitive landscape, a training program may be crucial to help advisors master retirement plans and excel in client engagement. Training builds a knowledgeable, adaptable and trustworthy team.
The greatest benefits of TCJA were deep in its details.
Tax season can be stressful, but with the right approach, advisors can turn it into an opportunity.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the BondBloxx Private Credit CLO ETF (PCMM) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
Investors should not be overly distracted by the recent spate of political headlines and social media updates.
ETF expert Dave Nadig offers hot takes on a range of topics, including private equity in ETFs, Truth.Fi entering the space, memecoins, and increasingly exotic ETF launches. VettaFi’s Todd Rosenbluth discusses an ongoing battle for the ETF throne and presents the latest advisor polling data on fixed income.
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.
In the second half of 2024 the risk premia associated with inflation releases declined relative to labor market data as the Fed shifted focus toward labor market and away from inflation risk. With elevated S&P 500 Index concentration and the market leadership of the artificial intelligence (AI) theme, some single company earnings (NVIDIA) have been rising risk events for the entire index.
The managed account industry has seen tremendous growth and client adoption, with assets increasing by 28% over the last year and 50% over the past two years.
Back in May of 2024, we wrote a weekly commentary called: “We Can’t Import Cheap Homes; But We Could Import Cheap EV Cars.” In that weekly we argued that since the U.S. auto industry, does not want to build small cars because it is not competitive, then we should open the lower-end EV automobile industry to imports from China.
In a market as broad, opaque and inefficient as the municipal bond market, in which compliance oversight and efficiency are paramount, these initial efficiency gains are just the tip of what may prove to be a transformative technology iceberg.
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.
Berkshire Hathaway Inc. released its latest shareholder letter Saturday, and the content is — by and large — the usual timeless Warren Buffett fare.
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.
Attractive yields and a broad opportunity set bolster active bond investments amid today’s uncertain macroeconomic and market outlook.
Taxable municipal bonds may be an attractive option for investors in lower tax brackets, but there are things investors should know before making a decision.
Above-target US inflation and a strong labor market reflect robust economic fundamentals. But the biggest risks to the US economy’s continued growth are Donald Trump’s erratic communication and, perhaps more importantly, his populist trade and immigration policies.
Long maturity treasuries can provide downside protection to offset equity risk, in our view.
Sales of existing US homes fell last month for the first time since September, as the combination of high mortgage rates and prices sets a grim backdrop heading into the crucial spring selling season.
My friends like to make fun of me by taunting that I don’t like to commit to things. I’m constantly trying new hobbies. I don’t like to make plans too far in advance because something more exciting might pop up. I don’t even like to renew my car tags for more than one year.
Consider estate planning strategies to minimize the impact of taxes on your estate. Our Bill Cass highlights several key actions including document reviews, naming beneficiaries and the use of 529 college savings plans to enhance tax efficiency.
Rising inflation, the potential added pressure from tariffs, and ongoing volatility create a strong backdrop for gold appreciation this year.
“Know what you own” is one of the many phrases we use to help describe and define fixed income, the components of bonds, and the characteristics that affect an investor.
Walmart Inc. forecast lower-than-expected profit for the full year, suggesting that the uncertain economic environment is hitting even the world’s largest retailer.
The second Trump presidency marks a new regime for government policy, with a range of potential macroeconomic and market implications.
We believe that we must build a common stock portfolio which will float when the multiyear bear market creates a waterfall of selling among magnificent growth stocks and passive S&P 500 Index owners.
