Hear firsthand how financial advisors are leveraging these strategies to safeguard portfolios from market volatility and protect their gains. Don’t miss this opportunity to gain valuable insights and stay ahead of the curve.
Existing home sales rebounded in February with their largest monthly increase in a year. According to the National Association of Realtors (NAR), existing home sales rose 4.2% from January, reaching a seasonally adjusted annual rate of 4.26 million units in February.
The latest Philadelphia Fed manufacturing index showed continued expansion though activity declined. In March, the index fell to 12.5 from 18.1 in February, the second consecutive monthly drop. The latest reading was higher than the forecast of 8.8.
In the week ending March 15th, initial jobless claims were at a seasonally adjusted level of 223,000. This represents an increase of 2,000 from the previous week's figure. The latest reading was lower than the 224,000 forecast.
In the understatement of 2025 thus far, the headlines emanating from Washington, D.C., have been fast and furious. Whether they be tariff-related, involving federal government cuts or geopolitical in nature, there has been a headline for many facets that investors could think of.
Recession fears have risen sharply of late as economic soft data have rolled over, upping the risk that hard data start to catch down.
A creative look at the parallels between March Madness and the bond market.
On March 11, Russell Investments hosted a webinar examining the challenges and opportunities presented by alternative diversifiers, including strategies for incorporating these solutions into portfolios.
Since our last update of our ‘Three Tactical Rules’ on February 4, equity markets have been under pressure as the S&P 500 has retraced more than 23% of the rally that started October 2023.
Private equity firms are called that because they own stakes in the companies they buy. Today, this assumption is looking ever more outdated.
It’s not often you see big tech firms getting pushed around. Upstart Wiz Inc. has just squeezed Google owner Alphabet Inc. to pony up $32 billion for a privately owned five-year-old cybersecurity firm.
Value investing and emerging markets are not often associated with one another. Conventional wisdom says that emerging markets, with their rapidly developing economies and rising consumer classes, are naturally the hunting ground of growth-oriented investors.
Customization is an integral part of direct indexing. The technology behind it can make or break the experience for clients and advisors alike. We dive into the features and functions that make the best tools.
As of the end of trading on Thursday, March 13, the S&P 500 closed down 10 percent from its all-time high, marking an official correction. It was the first correction since October 2023—17 months ago.
The Defined Outcome investment landscape is rapidly evolving, offering new opportunities for managing risk and return with greater precision.
One of the textbook drivers of alpha is an information edge. Having more information, advanced ways to use that information, and the ability to react to it before anyone else has been a massive advantage throughout the history of markets.
Several indicators used by fixed income investors to measure value have recently taken a positive turn, potentially flashing an entry-point opportunity for investors with money to put to work.
What does a "correction" mean, what's likely to happen next, and what can investors do now?
The U.S. housing market has been a critical factor in the broader economic landscape, and its trends have profound implications.
Gas prices were down for a fourth straight week, hitting their lowest level in two months. As of March 17th, the price of regular and premium gas were down 1 and 2 cents from the previous week, respectively. The WTIC end-of-day spot price for crude oil closed at $67.373, up 2.0% from last week.
Banks needed the right version of Donald Trump to justify their high-flying stock prices. They got the wrong one. The US president’s chaotic and aggressive performance during his first few weeks in the White House has shocked companies, put investment plans and deals on hold and threatens to drag the economy into recession.
For years, Federal Reserve meetings have been the main event on Wall Street as the central bank fought to contain runaway inflation.
US investment firms are rushing to grab a greater chunk of Europe’s market for active exchange-traded funds, an industry projected to grow to $1 trillion in assets over the coming years.
In the latest report by the Census Bureau, building permits fell for a third straight month to a seasonally adjusted annual rate of 1.456 million in February. This marks a 1.2% decrease from January and a 6.9% decline compared to one year ago.
In the latest report by the Census Bureau, housing starts jumped to a seasonally adjusted annual rate of 1.501 million in February. This marks an 11.2% increase from January but a 2.9% decline compared to one year ago.
Last week’s economic data was plagued by uncertainty. A brief respite in inflation pressures was overshadowed by sentiment concerns.
With market uncertainty abound in today's macro and geopolitical climate, Berkshire Hathaway hasn't been immune to the volatility.
The recent sell-off has certainly sparked concerns with investors but the NYSE advance-decline line is an important technical measure to watch. However, what is it, and why does it matter?
On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed recent developments in the trade war and the impact on markets. He also dug into the latest U.S. economic data and provided an update on investor sentiment.
Keep calm and carry on. Recent weeks have seen financial markets rattled by swirling news headlines, tariff whiplash, and rising economic uncertainty.
Unpredictable U.S. tariff policy has heightened concerns about a potential U.S. economic recession.
One of the biggest challenges investors face today is navigating the most concentrated U.S. stock market in history, where the largest stocks represent a record share of total market value.
Nominal retail sales in February were up 0.20% month-over-month (MoM) and 3.11% year-over-year (YoY). However, after adjusting for inflation, real retail sales were down 0.02% MoM and up 0.38% YoY.
Builder confidence fell for a second straight month as economic uncertainty, tariff threats, and elevated construction costs continue to weigh on sentiment. The National Association of Home Builders (NAHB) Housing Market Index (HMI) dropped to 39 this month, down 3 points from February and the lowest level since August. The latest reading was below the 42 forecast.
The Census Bureau's Advance Retail Sales Report for February showed a moderate rebound last month, with headline sales rising 0.2%. Meanwhile, January's figure was revised downward to a 1.2% loss. The latest data came in weaker than the anticipated 0.6% growth in consumer spending.
One thing we have seen underscored in 2025 is that the bond market can change its mind very quickly, particularly as it relates to policy emanating from Washington, D.C. Following President Trump’s election win, the dominant theme in the U.S. Treasury (UST) arena was that his Administration’s policies would lead to higher budget deficits, increasing UST supply and, ultimately, higher rates for maturities like the 10-Year yield.
Stocks rebounded on Wednesday as core inflation in the United States came in below consensus expectations and news of a possible 30-day truce in the Russia-Ukraine war emerged. Big tech stocks also recovered after flirting with bear-market territory earlier this week.
During the onset of the COVID crisis, I made a note to myself to write an update in five years to discuss what happened to the markets since that trying period of time. This week, I received a task alert in Salesforce reminding me to write that update.
It was only three years ago that a dispute between an infamous crypto billionaire and a titan of the financial establishment became the center of attention at an annual event known as the Davos of the derivatives market.
News related to tariffs, DOGE, geopolitical unrest, NVIDIA earnings, and more significantly impacted U.S. stock markets recently, with the S&P 500 retreating over 2.5% during the second half of February. There are signs that meaningful structural shifts are taking place in the market.
The 60/40 portfolio, where 60% is invested in stocks and 40% in bonds, is the initial starting point for many portfolios. The exact asset mix is often adjusted based on an investor’s time horizon, risk tolerance, and financial goals, but the simple, proportional stock-bond combination is what is often considered a “balanced” portfolio.
In today’s rapidly evolving financial landscape, advisors are expected to be more than just portfolio managers. Clients don’t just want investment recommendations—they seek a trusted partner who understands their financial needs, offers strategic guidance and provides peace of mind during turbulent times.
March came in like a lion, much to the bears’ delight. The S&P 500® plunged from its February 19 high on the heels of stern tariff talk and phrases like “a little bit of an adjustment period” from President Trump and the economy entering a “detox period,” as Treasury Secretary Bessent said last week.
The Liberal Party of Canada has wrapped up its leadership race, with Mark Carney winning by an overwhelming margin.
Warmer weather means that many animals come out of hibernation. Unfortunately for investors, market bears have also awakened from their slumber.
US stocks gained after a volatile session as dip buyers emerged after a cooler-than-forecast February inflation report.
In a few short weeks, President Donald Trump has started silencing the buy-the-dip stock traders who set the tone on Wall Street for the better part of two decades.
Our monthly workforce recovery analysis has been updated to include the latest employment report for February. The unemployment rate inched up to 4.1%. Additionally, the number of new non-farm jobs (a relatively volatile number subject to extensive revisions) came in at 151,000.
Wholesale inflation eased significantly in February, slowing more than expected. The producer price index for final demand was flat month-over-month, down from 0.6% in January and lower than the 0.3% forecast. On an annual basis, headline PPI increased 3.2%, down from 3.7% in January and below the 3.3% forecast.
Three months into 2025, the U.S. IPO (initial public offering) market remains in a rut. Why? And, perhaps just as importantly, is a rebound still possible?
Recent US stock weakness may be related to a downturn in US economic data and headline shocks related to tariffs.
The Consumer Price Index for Urban Consumers (CPI-U) release for February puts the year-over-year inflation rate at 2.82%. The latest reading keeps inflation below the 3.73% average since the end of the Second World War. Additionally, inflation now sits below the 10-year moving average which is now at 2.93%.
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Inflation cooled for the first time in five months in February. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.8% year-over-year, lower than the expected 2.9% growth. Core CPI also came in lower than expected, cooling to 3.1% year-over-year.
President Donald Trump’s 25% tariffs on steel and aluminum imports came into force Wednesday, triggering concern across export-reliant Asia and immediate reprisals from the European Union and Canada as the global trade war enters a rocky phase.
As we wade into March, market volatility is at the forefront, leaving investors grappling with uncertainty surrounding tariffs and mixed economic signals. Though the S&P 500 experienced a bounce towards February's end, it slipped 1% overall, revealing lingering challenges for iconic tech stocks and the broader equity landscape.
As the consumer goes, so goes the U.S. economy. Consumers make up roughly 70 percent of U.S. GDP.
Global investment themes are shifting toward infrastructure, cybersecurity and energy expansion as demand outpaces supply in key sectors.
Volatility across financial markets has become a persistent theme in 2025. The recent volatility has stemmed from a range of factors, including:
Modern direct indexing tools, using sophisticated technology, can identify tax loss opportunities on a daily or even minute-by-minute basis. As time progresses, I believe more advisors will see the potential of direct indexing.
As more advisors look to private equity as an effective means of diversifying their clients’ portfolios and providing a fertile source of uncorrelated alpha, the middle market merits a closer look.
The latest Job Openings and Labor Turnover Survey (JOLTS) report showed that job openings rose more than expected in January, while hiring and quits also edged higher. Vacancies increased to 7.740 million, up from December's downwardly revised 7.508 million. The January figure came in above the expected 7.650 million.
Blackstone Inc. has won approval from the US Securities and Exchange Commission to launch its newest private credit fund, one of the latest efforts to give individuals access to assets that are mostly backed by institutions.
US Treasuries surged and investors boosted their bets on Federal Reserve interest-rate cuts Monday as fear of a economic slowdown took hold across US markets.
The NFIB Small Business Optimism Index dropped for a second straight month, falling to 100.7 in February. While optimism among small business owners moderated last month, uncertainty spiked to its second highest reading of all time.
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.
Trade policy clarity is a long way off.
Last week brought another wave of volatility to the markets, with investors grappling with mixed economic signals, geopolitical developments, and ongoing trade policy uncertainty.
It is true that tariffs are a tax. It is also true that tariff policies have been volatile…on and off again…different carve outs…different countries…phone calls that change things. All of this clearly has an impact on the market. So, we are not surprised to see stock market volatility.
Investor’s bearish sentiment has surged to levels that generally align with previous market corrections and crashes.
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth talks about the KraneShares CSI China Internet ETF (KWEB) with Money Life host Chuck Jaffe. The pair covered a range of topics related to the fund, providing investors with a deeper understanding of the ETF.
Let's take a close look at February's employment report numbers on Full and Part-Time Employment. The latest data shows that 82.5% of total employed workers are full-time (35+ hours) and 17.5% of total employed workers are part-time (<35 hours).
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?
A chorus of Wall Street strategists is warning about rising volatility in the stock market, with Morgan Stanley’s Michael Wilson the latest to sound the alarm on slumping economic growth amid President Donald Trump’s trade wars.
Some of Asia’s biggest central banks are getting a painful refresher in economic theory.
Emerging-market stocks declined for a second day and currencies halted a four-day rally as concerns grew that China’s deflation is spreading to its consumer economy and Donald Trump’s tariffs threaten US growth.
Last week's economic reports presented a narrative similar to what we’ve seen over the past few months: growth coupled with concerns.
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.
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.
We highlight some underreported positive developments that could keep economic growth on track and support higher equity prices in the months ahead.
On the latest Road to Exchange, VettaFi Head of Research Todd Rosenbluth interviewed Michael Durso, CEO of ShoreHaven Wealth Partners.
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of these indicators: nonfarm employment. In February, total nonfarm payrolls increased by 151,000, while the unemployment rate inched up to 4.1%.
Travel on all roads and streets increased in December. The 12-month moving average was up 0.13% month-over-month and was up 0.99% year-over-year. However, if we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.07% MoM and up 0.38% YoY.
The moving average for vehicle sales per capita series peaked in August 1978. Fast forward more than 45 years, it is now down 37.2% from that peak.
Cambria Investments CIO and founder Meb Faber explores David Swensen’s legendary investment strategy at Yale’s endowment, comparing its long-term performance to traditional portfolios and examining whether individual investors can replicate its success.
Q4 company earnings offered a lot to cheer at the start of the year, even as U.S. stocks contended with bouts of volatility.
One month into President Donald Trump’s new term, financial markets are adjusting to a rapidly shifting economic and policy environment. Investors are watching closely as tariffs, interest rate expectations and regulatory changes take center stage.
Volatility is back in town. Tariff jitters and concerns about growth and inflation have resulted in an S&P 500® dip and the Cboe Volatility Index (VIX) jumping above 20. Investors grapple with a very sanguine backdrop painted by the fourth-quarter earnings season and policy uncertainty.
The municipal bond tax exemption is back in focus. We believe the threat to infrastructure investment outweighs the modest revenue benefits, which could keep the risk of elimination or significant curtailment low.
Buffer ETFs
LiveCast: Flexibility Amidst Uncertainty: The Power of Quarterly Buffer ETFs™
Hear firsthand how financial advisors are leveraging these strategies to safeguard portfolios from market volatility and protect their gains. Don’t miss this opportunity to gain valuable insights and stay ahead of the curve.
Existing Home Sales Rebound 4.2% in February
Existing home sales rebounded in February with their largest monthly increase in a year. According to the National Association of Realtors (NAR), existing home sales rose 4.2% from January, reaching a seasonally adjusted annual rate of 4.26 million units in February.
Philly Fed Manufacturing Index: Activity Continued to Expand in March
The latest Philadelphia Fed manufacturing index showed continued expansion though activity declined. In March, the index fell to 12.5 from 18.1 in February, the second consecutive monthly drop. The latest reading was higher than the forecast of 8.8.
Unemployment Claims Up 2K, Lower Than Expected
In the week ending March 15th, initial jobless claims were at a seasonally adjusted level of 223,000. This represents an increase of 2,000 from the previous week's figure. The latest reading was lower than the 224,000 forecast.
From the Beltway to Main St.: Certain Uncertainty
In the understatement of 2025 thus far, the headlines emanating from Washington, D.C., have been fast and furious. Whether they be tariff-related, involving federal government cuts or geopolitical in nature, there has been a headline for many facets that investors could think of.
A Future Uncertain: Recession Coming?
Recession fears have risen sharply of late as economic soft data have rolled over, upping the risk that hard data start to catch down.
March Madness in the Bond Market
A creative look at the parallels between March Madness and the bond market.
Rethinking Diversification – Alternative Downside Risk Management
On March 11, Russell Investments hosted a webinar examining the challenges and opportunities presented by alternative diversifiers, including strategies for incorporating these solutions into portfolios.
Tactical Rules Turn More Bullish
Since our last update of our ‘Three Tactical Rules’ on February 4, equity markets have been under pressure as the S&P 500 has retraced more than 23% of the rally that started October 2023.
Private Equity Firms Are Getting Rid of Their Equity
Private equity firms are called that because they own stakes in the companies they buy. Today, this assumption is looking ever more outdated.
Google's $32 Billion for Cloud Upstart Is a Leap of Faith
It’s not often you see big tech firms getting pushed around. Upstart Wiz Inc. has just squeezed Google owner Alphabet Inc. to pony up $32 billion for a privately owned five-year-old cybersecurity firm.
Revisiting Seven Sources of Value in Emerging Markets
Value investing and emerging markets are not often associated with one another. Conventional wisdom says that emerging markets, with their rapidly developing economies and rising consumer classes, are naturally the hunting ground of growth-oriented investors.
How to Put the Power of Direct Indexing at Your Fingertips
Customization is an integral part of direct indexing. The technology behind it can make or break the experience for clients and advisors alike. We dive into the features and functions that make the best tools.
The Market Has Corrected: What’s Ahead?
As of the end of trading on Thursday, March 13, the S&P 500 closed down 10 percent from its all-time high, marking an official correction. It was the first correction since October 2023—17 months ago.
A Deep Dive into Buffered ETFs
The Defined Outcome investment landscape is rapidly evolving, offering new opportunities for managing risk and return with greater precision.
How To Invest with Clarity Through Market Volatility
One of the textbook drivers of alpha is an information edge. Having more information, advanced ways to use that information, and the ability to react to it before anyone else has been a massive advantage throughout the history of markets.
Relative Value Metrics
Several indicators used by fixed income investors to measure value have recently taken a positive turn, potentially flashing an entry-point opportunity for investors with money to put to work.
Market Correction: What Does It Mean?
What does a "correction" mean, what's likely to happen next, and what can investors do now?
The U.S. Housing Market: Risks, Realities, and the Road Ahead
The U.S. housing market has been a critical factor in the broader economic landscape, and its trends have profound implications.
Gasoline Prices Down for Fourth Straight Week
Gas prices were down for a fourth straight week, hitting their lowest level in two months. As of March 17th, the price of regular and premium gas were down 1 and 2 cents from the previous week, respectively. The WTIC end-of-day spot price for crude oil closed at $67.373, up 2.0% from last week.
Investment Bankers Finally Start to Take Trump Literally
Banks needed the right version of Donald Trump to justify their high-flying stock prices. They got the wrong one. The US president’s chaotic and aggressive performance during his first few weeks in the White House has shocked companies, put investment plans and deals on hold and threatens to drag the economy into recession.
Fed Day Takes on New Meaning in Stock Market Transfixed by Trump
For years, Federal Reserve meetings have been the main event on Wall Street as the central bank fought to contain runaway inflation.
Wall Street Firms Plunge Into Europe’s Booming Active ETF Market
US investment firms are rushing to grab a greater chunk of Europe’s market for active exchange-traded funds, an industry projected to grow to $1 trillion in assets over the coming years.
Building Permits Fall 1.2% in February
In the latest report by the Census Bureau, building permits fell for a third straight month to a seasonally adjusted annual rate of 1.456 million in February. This marks a 1.2% decrease from January and a 6.9% decline compared to one year ago.
Housing Starts Jump 11.2% in February
In the latest report by the Census Bureau, housing starts jumped to a seasonally adjusted annual rate of 1.501 million in February. This marks an 11.2% increase from January but a 2.9% decline compared to one year ago.
Weekly Economic Snapshot: Inflation Relief Tempered by Sentiment Concerns
Last week’s economic data was plagued by uncertainty. A brief respite in inflation pressures was overshadowed by sentiment concerns.
Bulls & Bears Weigh in On Berkshire Hathaway
With market uncertainty abound in today's macro and geopolitical climate, Berkshire Hathaway hasn't been immune to the volatility.
NYSE A/D Line: A Topping Process In Progress?
The recent sell-off has certainly sparked concerns with investors but the NYSE advance-decline line is an important technical measure to watch. However, what is it, and why does it matter?
Volatility Returns With a Vengeance
On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed recent developments in the trade war and the impact on markets. He also dug into the latest U.S. economic data and provided an update on investor sentiment.
Putting the Recent Volatility Into Perspective
Keep calm and carry on. Recent weeks have seen financial markets rattled by swirling news headlines, tariff whiplash, and rising economic uncertainty.
Schwab Market Perspective: Recession Risk Rising?
Unpredictable U.S. tariff policy has heightened concerns about a potential U.S. economic recession.
How To Survive Falling Markets
One of the biggest challenges investors face today is navigating the most concentrated U.S. stock market in history, where the largest stocks represent a record share of total market value.
The Big Four Recession Indicators: Real Retail Sales Flat in February
Nominal retail sales in February were up 0.20% month-over-month (MoM) and 3.11% year-over-year (YoY). However, after adjusting for inflation, real retail sales were down 0.02% MoM and up 0.38% YoY.
NAHB Housing Market Index: Uncertainty Drags Builder Confidence to 7-Month Low
Builder confidence fell for a second straight month as economic uncertainty, tariff threats, and elevated construction costs continue to weigh on sentiment. The National Association of Home Builders (NAHB) Housing Market Index (HMI) dropped to 39 this month, down 3 points from February and the lowest level since August. The latest reading was below the 42 forecast.
Retail Sales Rise 0.2% in February, Weaker Than Expected
The Census Bureau's Advance Retail Sales Report for February showed a moderate rebound last month, with headline sales rising 0.2%. Meanwhile, January's figure was revised downward to a 1.2% loss. The latest data came in weaker than the anticipated 0.6% growth in consumer spending.
Discounting the D.C. Effect in the Bond Market
One thing we have seen underscored in 2025 is that the bond market can change its mind very quickly, particularly as it relates to policy emanating from Washington, D.C. Following President Trump’s election win, the dominant theme in the U.S. Treasury (UST) arena was that his Administration’s policies would lead to higher budget deficits, increasing UST supply and, ultimately, higher rates for maturities like the 10-Year yield.
Economic Vitals Stay Strong Amid Trade Dustup
Stocks rebounded on Wednesday as core inflation in the United States came in below consensus expectations and news of a possible 30-day truce in the Russia-Ukraine war emerged. Big tech stocks also recovered after flirting with bear-market territory earlier this week.
One of Those Times
During the onset of the COVID crisis, I made a note to myself to write an update in five years to discuss what happened to the markets since that trying period of time. This week, I received a task alert in Salesforce reminding me to write that update.
Wall Street Goes All In on Great Crypto Comeback Fueled by Trump
It was only three years ago that a dispute between an infamous crypto billionaire and a titan of the financial establishment became the center of attention at an annual event known as the Davos of the derivatives market.
Quality Is On Sale
News related to tariffs, DOGE, geopolitical unrest, NVIDIA earnings, and more significantly impacted U.S. stock markets recently, with the S&P 500 retreating over 2.5% during the second half of February. There are signs that meaningful structural shifts are taking place in the market.
Rebuilding Resilience in 60/40 Portfolios
The 60/40 portfolio, where 60% is invested in stocks and 40% in bonds, is the initial starting point for many portfolios. The exact asset mix is often adjusted based on an investor’s time horizon, risk tolerance, and financial goals, but the simple, proportional stock-bond combination is what is often considered a “balanced” portfolio.
Becoming Your Client’s Financial MD: A New Advisory Mindset
In today’s rapidly evolving financial landscape, advisors are expected to be more than just portfolio managers. Clients don’t just want investment recommendations—they seek a trusted partner who understands their financial needs, offers strategic guidance and provides peace of mind during turbulent times.
Honeywell’s Planned Spinoff and What It Means Amid Macro Volatility
March came in like a lion, much to the bears’ delight. The S&P 500® plunged from its February 19 high on the heels of stern tariff talk and phrases like “a little bit of an adjustment period” from President Trump and the economy entering a “detox period,” as Treasury Secretary Bessent said last week.
Election Debrief: Why the Era of Uncertainty May Continue in Canada
The Liberal Party of Canada has wrapped up its leadership race, with Mark Carney winning by an overwhelming margin.
Bears Awaken, but Don’t Fear the Volatility
Warmer weather means that many animals come out of hibernation. Unfortunately for investors, market bears have also awakened from their slumber.
US Stocks Rebound After Volatile Session on Softer CPI Data
US stocks gained after a volatile session as dip buyers emerged after a cooler-than-forecast February inflation report.
‘Buy The Dip’ Calls Fade as Trump Selloffs Rattle Wall Street
In a few short weeks, President Donald Trump has started silencing the buy-the-dip stock traders who set the tone on Wall Street for the better part of two decades.
U.S. Workforce Recovery Analysis: February 2025
Our monthly workforce recovery analysis has been updated to include the latest employment report for February. The unemployment rate inched up to 4.1%. Additionally, the number of new non-farm jobs (a relatively volatile number subject to extensive revisions) came in at 151,000.
Producer Price Index: Wholesale Inflation Eased Significantly in February
Wholesale inflation eased significantly in February, slowing more than expected. The producer price index for final demand was flat month-over-month, down from 0.6% in January and lower than the 0.3% forecast. On an annual basis, headline PPI increased 3.2%, down from 3.7% in January and below the 3.3% forecast.
Why Is the IPO Market Struggling? Here’s What Active Managers Have to Say
Three months into 2025, the U.S. IPO (initial public offering) market remains in a rut. Why? And, perhaps just as importantly, is a rebound still possible?
Data Determination vs. Headline ‘Hell’: Making Sense of the US Market’s Crosscurrents
Recent US stock weakness may be related to a downturn in US economic data and headline shocks related to tariffs.
Inflation Since 1872: A Long-Term Look at the CPI
The Consumer Price Index for Urban Consumers (CPI-U) release for February puts the year-over-year inflation rate at 2.82%. The latest reading keeps inflation below the 3.73% average since the end of the Second World War. Additionally, inflation now sits below the 10-year moving average which is now at 2.93%.
Inside the Consumer Price Index: February 2025
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Consumer Price Index: Inflation Cools to 2.8% in February
Inflation cooled for the first time in five months in February. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.8% year-over-year, lower than the expected 2.9% growth. Core CPI also came in lower than expected, cooling to 3.1% year-over-year.
Trump Metal Tariffs Spark Retaliation Moves, Calls for Talks
President Donald Trump’s 25% tariffs on steel and aluminum imports came into force Wednesday, triggering concern across export-reliant Asia and immediate reprisals from the European Union and Canada as the global trade war enters a rocky phase.
Navigating Market Turbulence: Decoding the Impact of Tariffs and Economic Trends
As we wade into March, market volatility is at the forefront, leaving investors grappling with uncertainty surrounding tariffs and mixed economic signals. Though the S&P 500 experienced a bounce towards February's end, it slipped 1% overall, revealing lingering challenges for iconic tech stocks and the broader equity landscape.
All Eyes on the Consumer: Is the Economic Engine Sputtering?
As the consumer goes, so goes the U.S. economy. Consumers make up roughly 70 percent of U.S. GDP.
From AI to Infrastructure: The 10 Investment Themes Defining the Next Five Years
Global investment themes are shifting toward infrastructure, cybersecurity and energy expansion as demand outpaces supply in key sectors.
Looking Through the Volatility
Volatility across financial markets has become a persistent theme in 2025. The recent volatility has stemmed from a range of factors, including:
Still Working the Night Shift
Modern direct indexing tools, using sophisticated technology, can identify tax loss opportunities on a daily or even minute-by-minute basis. As time progresses, I believe more advisors will see the potential of direct indexing.
Revisiting Direct Indexing in 2025
Modern direct indexing tools, using sophisticated technology, can identify tax loss opportunities on a daily or even minute-by-minute basis. As time progresses, I believe more advisors will see the potential of direct indexing.
Unlock Alpha in Mid-Market Private Equity
As more advisors look to private equity as an effective means of diversifying their clients’ portfolios and providing a fertile source of uncorrelated alpha, the middle market merits a closer look.
Job Openings Rise More Than Expected in January
The latest Job Openings and Labor Turnover Survey (JOLTS) report showed that job openings rose more than expected in January, while hiring and quits also edged higher. Vacancies increased to 7.740 million, up from December's downwardly revised 7.508 million. The January figure came in above the expected 7.650 million.
SEC Approves Retail-Friendly Blackstone Private Credit Fund
Blackstone Inc. has won approval from the US Securities and Exchange Commission to launch its newest private credit fund, one of the latest efforts to give individuals access to assets that are mostly backed by institutions.
US Bonds Rose as Recession Angst Fuels Haven Demand
US Treasuries surged and investors boosted their bets on Federal Reserve interest-rate cuts Monday as fear of a economic slowdown took hold across US markets.
NFIB Small Business Survey: Uncertainty is High and Rising
The NFIB Small Business Optimism Index dropped for a second straight month, falling to 100.7 in February. While optimism among small business owners moderated last month, uncertainty spiked to its second highest reading of all time.
Despite Recent Volatility, We Maintain Our Constructive Outlook
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.
A Frenzied Week for Tariffs
Trade policy clarity is a long way off.
Markets Struggle for Direction as Uncertainty Mounts
Last week brought another wave of volatility to the markets, with investors grappling with mixed economic signals, geopolitical developments, and ongoing trade policy uncertainty.
It's Not All About Tariffs
It is true that tariffs are a tax. It is also true that tariff policies have been volatile…on and off again…different carve outs…different countries…phone calls that change things. All of this clearly has an impact on the market. So, we are not surprised to see stock market volatility.
Bearish Sentiment Surges As If The Market Just Crashed
Investor’s bearish sentiment has surged to levels that generally align with previous market corrections and crashes.
ETF of the Week: KraneShares CSI China Internet ETF (KWEB)
On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth talks about the KraneShares CSI China Internet ETF (KWEB) with Money Life host Chuck Jaffe. The pair covered a range of topics related to the fund, providing investors with a deeper understanding of the ETF.
A Closer Look at Full-time and Part-time Employment: February 2025
Let's take a close look at February's employment report numbers on Full and Part-Time Employment. The latest data shows that 82.5% of total employed workers are full-time (35+ hours) and 17.5% of total employed workers are part-time (<35 hours).
Never Let a Crisis Go to Waste
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?
Strategists See More S&P 500 Volatility as Tariff Fears Kick In
A chorus of Wall Street strategists is warning about rising volatility in the stock market, with Morgan Stanley’s Michael Wilson the latest to sound the alarm on slumping economic growth amid President Donald Trump’s trade wars.
‘Impossible Trinity’ Conundrum Has Caused a Cash Crunch in Asia
Some of Asia’s biggest central banks are getting a painful refresher in economic theory.
Emerging Markets Decline Amid China Deflation, US Growth Worries
Emerging-market stocks declined for a second day and currencies halted a four-day rally as concerns grew that China’s deflation is spreading to its consumer economy and Donald Trump’s tariffs threaten US growth.
Weekly Economic Snapshot: Labor, Services, & Manufacturing’s Cautious Growth
Last week's economic reports presented a narrative similar to what we’ve seen over the past few months: growth coupled with concerns.
European Defense Stocks Go Parabolic as War Spending Surges
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.
Tariff Uncertainty Rattles Markets
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.
Falling Gas Prices Could Provide a Boost to Consumer Spending
We highlight some underreported positive developments that could keep economic growth on track and support higher equity prices in the months ahead.
The Road to Exchange: Featuring Michael Durso of ShoreHaven Wealth Partners
On the latest Road to Exchange, VettaFi Head of Research Todd Rosenbluth interviewed Michael Durso, CEO of ShoreHaven Wealth Partners.
The Big Four Recession Indicators: February Employment
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of these indicators: nonfarm employment. In February, total nonfarm payrolls increased by 151,000, while the unemployment rate inched up to 4.1%.
America's Driving Habits: December 2024
Travel on all roads and streets increased in December. The 12-month moving average was up 0.13% month-over-month and was up 0.99% year-over-year. However, if we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.07% MoM and up 0.38% YoY.
Vehicle Sales: February 2025
The moving average for vehicle sales per capita series peaked in August 1978. Fast forward more than 45 years, it is now down 37.2% from that peak.
Can We All Invest Like Yale?
Cambria Investments CIO and founder Meb Faber explores David Swensen’s legendary investment strategy at Yale’s endowment, comparing its long-term performance to traditional portfolios and examining whether individual investors can replicate its success.
Q4 Company Earnings Reveal Key Areas of U.S. Equity Exceptionalism
Q4 company earnings offered a lot to cheer at the start of the year, even as U.S. stocks contended with bouts of volatility.
Trump’s Economic Landscape: What Investors Need to Know
One month into President Donald Trump’s new term, financial markets are adjusting to a rapidly shifting economic and policy environment. Investors are watching closely as tariffs, interest rate expectations and regulatory changes take center stage.
March’s Interim Data Highlights: Economic Clues from Costco, Taiwan Semi, and Brokers
Volatility is back in town. Tariff jitters and concerns about growth and inflation have resulted in an S&P 500® dip and the Cboe Volatility Index (VIX) jumping above 20. Investors grapple with a very sanguine backdrop painted by the fourth-quarter earnings season and policy uncertainty.
Is Eliminating the Tax Exemption on Municipal Bonds Worth the Cost?
The municipal bond tax exemption is back in focus. We believe the threat to infrastructure investment outweighs the modest revenue benefits, which could keep the risk of elimination or significant curtailment low.