What was once dismissed as a fringe fantasy by a niche band of crypto believers is now being tentatively examined by the government-sponsored entities at the core of the US housing market.
President Donald Trump hailed more than $92 billion in investments in artificial intelligence and energy infrastructure during a visit to Pennsylvania, highlighting his efforts to bolster US competitiveness in the AI field.
Low volatility exchange traded funds are a compelling solution for those looking to dampen risk while staying invested.
The RAFI™ Fundamental Index has a value tilt, but to characterize it as a value index would be an oversimplification that misses the important advantages that the fundamental index offers above standard “value” index approaches.
Markets continued their strong run last week before pulling back slightly as a flurry of tariff rhetoric hit the wires. It’s important to understand markets are rallying because they assume these tariff threats are more political posturing than lasting economic policy.
Manufacturing activity expanded for the first time in five months in New York State, according to the Empire State Manufacturing July survey. The diffusion index for General Business Conditions rose 21.5 points to 5.5. The latest reading was better than the forecast of -8.3.
Last week, the iShares Flexible Income Active ETF (BINC) reached a significant milestone and became the latest member of the $10 billion of the active fixed income club.
Nothing says talent war like a $100 million job offer. Mark Zuckerberg has been on a hiring blitz for AI’s most revered scientists, sending them cold emails and offering them roles in his new Superintelligence Labs division whose goal is nothing less than to build artificial-intelligence software that’s smarter than humans.
The valuation of small-cap stocks relative to large caps remains historically attractive, and small-cap recoveries in the past have resulted in meaningful periods of outperformance.
Compelling bond yields and diverging equity returns offer building blocks for effective strategies.
Huawei Technologies Co. is trying to export small quantities of AI chips to the Middle East and Southeast Asia, an effort to establish a foothold in markets dominated by Nvidia Corp. despite ongoing manufacturing challenges.
How the Matthews Emerging Markets Equity Fund’s strategy helped it achieve outperformance during a historic period for global markets.
In the latest Alternative Allocations, with guest Brian Ullsperger from Andersen, Tony Davidow examines the traditional 60/40 portfolio and how it can be expanded to include alternatives to meet clients’ needs.
If you’ve been following the mainstream financial media lately, you might think the airline industry is in crisis. From headlines about tariffs and labor costs to geopolitical tensions and delays at Newark Airport, it sounds like air travel should be tanking.
Private equity has officially conquered the registered investment advisor (RIA) landscape. It is now responsible for a significant portion of RIA-linked M&A activity.
Below, we recount highlights from constituents of the ROBO Global Robotics and Automation Index (ROBO) and the ROBO Global Artificial Intelligence Index (THNQ).
BlackRock Inc. is considering a sale of its stake in the leasing rights to Saudi Aramco’s natural-gas pipeline network back to the energy giant, according to people familiar with the matter.
Investors looking for cash flow from commercial real estate may want to check out the debt side.
This quarter might best be described as the “Big Beautiful Bounce”. Or the BBB. History has proven time and time again that markets do come back – but this was a historically quick market turnaround.
After a tumultuous few months, June of 2025 saw a strong rally which took global markets to (or close to) new highs. The rally was broad-based, with international and U.S. markets all up strongly.
From investing to economics to politics, patterns emerge, lessons resurface and the past becomes a powerful guide for navigating today’s unpredictable landscape. Timing, perspective and adaptability can make all the difference in managing the complexities of modern markets.
Some say private credit hasn’t been tested. We disagree…and stress can sharpen the senses.
On the latest edition of Market Week in Review, Global Chief Investment Strategist Paul Eitelman explored key drivers behind the strong performance in markets. He also provided an update on a proposed U.S. tax measure.
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the June 2025 close.
For good reasons, many investors have a love-hate relationship with commodity investments. Operationally, the annoying K-1 form complicates tax filing, although thankfully the industry has started to launch “no K-1” funds.
As direct lending matures and other private credit areas expand, active investors can apply relative value strategies across sectors – and even entire markets – to pursue enhanced outcomes.
A turf war is breaking out in the vast world of digital payments — and the incumbents are suddenly on defense.
Readers of a certain age will no doubt recall President Ronald Reagan launching one of the most ambitious military buildups in American history.
The United States’ tariff announcement on April 2, 2025, created significant market volatility, as the tariffs were perceived as higher, broader, and more punitive than expected, and the implementation sooner.
What are consumers thinking about the economy? Their collective mood offers crucial clues for businesses, investors, and policymakers alike. Two prominent monthly surveys, the University of Michigan Consumer Sentiment Index (MCSI) and the Conference Board Consumer Confidence Index (CCI), aim to capture this vital pulse. In June, these gauges sent mixed signals: the MCSI rose for the first time in six months, reaching 60.7, while the CCI retreated to 93.0, erasing nearly half of its prior gains.
Until recently, commercial real estate appeared poised for a long-awaited rebound. However, 2025 has revealed a new reality: Uncertainty has become structural.
It’s often said there are only two certainties in life: death and taxes. However, the tax landscape may become somewhat murkier, as the recently passed U.S. House budget bill may potentially lead to some non-U.S. investors paying more taxes than previously anticipated.
As the advisory landscape continues to evolve, one theme is increasingly clear: advisors need more flexibility to meet the diverse and growing expectations of their clients.
It’s a story that has played out many times in the history of China’s tech sector. Notoriously fierce competition means that whenever a new craze comes along, scores of rivals emerge ready to pounce.
The Federal Reserve is aiming to lessen the costly fluctuations in bank capital demands created by its annual stress tests. But big lenders are pushing for more relief while the central bank is politically weakened and some board members seem keen to please the White House.
Money Metals Midweek Memo host Mike Maharrey isn’t buying the recent bearish turn in gold forecasts from Wall Street.
Personal income (excluding transfer receipts) was flat in May and was up 3.9% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was down 0.1% month-over-month and up 1.5% year-over-year.
The newest generation of college graduates will switch jobs more than a dozen times over the course of their careers. They will juggle side gigs, launch businesses, and step in and out of traditional roles.
While both valuation and technical factors suggest to us that the dollar may continue to weaken in the near-term, we would caution investors against reading too much concerning the US’ long-term economic stability into further dollar weakness.
If you are considering merging or acquiring another practice, consider having each party answer some of the following questions to see where you both stand.
How do direct indexing ideas fit into a fixed income portfolio? These two powerful strategies make one compelling combination with potential tax and risk management opportunities.
Home prices declined in April as the benchmark national index fell for a second straight month. The seasonally adjusted home prices for the national index saw a 0.4% decrease month-over-month and a 2.7% increase year-over-year. This marks the third straight month of year-over-year declines and is the smallest annual gain since August 2023. After adjusting for inflation, the monthly change fell to -0.8% and annual change fell to -1.5%.
When navigating the unknown, an experienced guide can ensure you don’t veer off the path to your chosen destination, can prevent you from stumbling over hazards, and ensure you have the tools you need to finish the journey safely and soundly.
Portfolio Managers John Kerschner and John Lloyd and Client Portfolio Manager Steve Preikschat investigate the case for multisector bond funds as a core fixed income allocation.
With the House passing of The Big Beautiful Bill, the challenges facing chief financial officers and treasurers across health-care systems are likely to grow. The proposed cuts to reimbursements will have varying impacts across organizations depending on their payer mix.
While stocks experienced a roller-coaster ride powered by policy uncertainty, fixed income generally held up well despite the broader market turbulence. Will it be the same story in the second half? Let’s take a closer look.
Fixed-income investors concerned about tariffs and US exceptionalism may find opportunities in hedged global bonds.
New strategies, shifting flows, and innovative technologies are driving a more dynamic and diversified marketplace in fixed income ETFs.
Nvidia Corp. billionaire boss Jensen Huang, clad in his signature leather jacket, has been crisscrossing European capitals and sharing the stage with the likes of Keir Starmer and Emmanuel Macron as he pitches “sovereign” artificial intelligence, a vision of new data centers offering essential compute power within national borders rather than via dominant tech firms from abroad.
Nominal retail sales in May were down 0.91% month-over-month (MoM) and up 3.29% year-over-year (YoY). However, after adjusting for inflation, real retail sales were down 0.99% MoM and up 0.89% YoY.
The ever-louder brouhaha surrounding BBD is much ado about nothing. It is expensive, dangerous, and likely to benefit only bankers and brokerage firms.
It sounded like something that should have come from the sports desk — a $14.3 billion transfer fee for a young up-and-coming prospect as Meta Platforms Inc. looks to rebuild its team for the tough season ahead.
Separating the signal from the noise may be the hardest challenge investors face. We’re all surrounded by constantly changing but mostly unimportant information. Of the small part that really is important, we must decide if it affects our investments.
Fears of an impending recession may be fading, but economists are still expecting tepid GDP growth for the year.
Industrial robotics is no longer a niche topic reserved for factory optimization—it is becoming a key lever in national strategies for productivity, labor substitution and supply chain resilience.
In part one of our new series, AI Alpha, we explored the sweeping potential of artificial intelligence (AI) as a transformative force.
Alex Veroude, Global Head of Fixed Income, believes fixed income investors can prepare for an uncertain journey by recognising trends and diversifying across different assets.
Global markets may be more rattled than ever, but advisors can count on closed-end funds to offer yield, portfolio diversity, and more.
Unlike most other US public retirement plans of its size, the Tampa Fire & Police Pension Fund doesn’t invest in hedge funds, private equity or private credit.
While crypto’s roots are libertarian and anti-state, stablecoins could serve to entrench the existing tech and monetary order dominated by the US, as 95% of them are dollar-denominated.
The first half of 2025 has been driven by headlines that have caused volatility in both the stock and bond markets. While tariff negotiations have commanded the most attention, we are now pivoting to the federal budget deficit, which feels like a perpetual headline over the last 15 years.
With the world order in flux, investors can look to fortify portfolios by diversifying across global markets and capitalizing on attractive, high quality yields.
Wall Street analyst outlooks are typically bullish. If you aggregate every price target on every S&P 500 Index company and weight them to match the index, it’s exceedingly rare for the overall number to fall.
The global economy is continually evolving due to inflation, interest rates, and geopolitics. How could these and other factors influence the major asset classes over the coming decade?
Robotics was one of the earliest examples of a disruptive technology. It enjoyed some time in the investment community limelight. But it was rapidly usurped by other innovative technologies, including AI.
Small-cap stocks tend to offer greater growth potential than their large-cap peers, but those returns have yet to materialize consistently. What will it take to turn the tide?
Stablecoins are a special flavor of cryptocurrency. Unlike Bitcoin or countless wildly traded memecoins, whose values rise and fall based on market moods, the most popular versions of these digital tokens are supposed to always be worth $1 each.
The Fear Trade is what most Western investors are familiar with. It’s the flight to safety during times of uncertainty, driven by concerns over inflation, interest rates, geopolitical risk and more.
Here’s the blunt truth: Many great investment strategies fail because of poor implementation. Robust capabilities in trading, transition management, overlays and currencies are critical to executing a strategy.
Carolyn McPhillips, President of MFDF, sheds light on the evolving role of ETF directors and their growing importance as investment products become more complex – particularly in emerging areas like crypto and private assets. VettaFi’s Zeno Mercer explores artificial intelligence ETFs, highlighting new launches and offering tips to help investors navigate this rapidly expanding category.
Stablecoins and the concept of digital money represent a significant shift from the current system. While there are many risks with digital money, there is also promise.
Retail traders using sophisticated quantitative strategies are starting to have a surprising and noticeable impact on financial prices.
Research trips are an integral component of our active, fundamental investment process. Our investment teams meet with different companies, attend conferences, and travel to new markets around the world, gaining insights for our clients and a deeper understanding of potential investments.
The ETF market saw a noticeable slowdown of new products launched in May; however, innovation continued to be a driving force.
Gold’s recent surge to $3,500 was quickly followed by a sharp correction. Each tariff update or diplomatic rumor sends markets into a frenzy—rallying stocks, selling gold, or reversing course the next day.
Since 2019 and the establishment of the ETF Rule, traditional active managers, armed with decades of expertise, have flocked to ETFs.
In our view, using quantitative methods in a transparent, repeatable way to extract alpha through diversified factor tilts offers a compelling alternative in this new IG environment.
This past week, news flow around policy came in hot and heavy, with President Trump’s ‘Big, Beautiful’ tax cut bill passing the House of Representatives, and Trump threatening 50% tariffs on the European Union (EU).
A monumental week of announcements from Google, Microsoft, and Anthropic signals a strategic shift from standalone AI models to integrated “AI agents” that can act on a user’s behalf.
Clients aren’t asking their financial advisor to be everything. They’re asking for clarity and confidence in what matters most to them. Simplifying the client experience may be the most strategic move advisors can make.
Cantor Fitzgerald LP agreed to buy UBS Group AG’s O’Connor unit, ending more than three decades of ownership by the Swiss bank and placing the hedge fund back in control of one of its early founders.
The Endowment Tax was introduced during the first Trump administration as part of the 2017 Tax Cuts and Jobs Act (TCJA).
Halfway through President Donald Trump’s 90-day freeze on his so-called reciprocal tariffs, a persistent gripe from businesses, consumers and governments facing them is severe uncertainty.
America’s fiscal woes are nothing to sneeze at, but they’re also nothing new. Which is why we expect markets to largely shrug off the latest credit-rating cut.
One of the biggest stories in the ETF market in 2025 has been the nonstop impressive asset-gathering pace of the Vanguard S&P 500 ETF (VOO).
The wise minds at Moody’s Investors Service finally acknowledged last week what the other two main credit rating agencies did years ago.
As one of the world’s largest sovereign wealth funds warned this week that private equity is “very troubled” right now, a spate of recent buyout deals in Europe and the US points to a possible route out of the mire.
Best-in-class OCIO providers understand the importance of a deep relationship and will invest considerable time cultivating one.
In a year dominated by multimodal marvels and reasoning breakthroughs, perhaps the most economically significant shift in AI went largely underplayed: cost collapse.
The April Consumer Price Index (‘CPI’) report was released last Wednesday and gave the Federal Reserve another positive data point in its inflation fight, as did Thursday’s negative Producer Price Index (‘PPI’).
Diversity & Inclusion
Bitcoin Chases American Dream in Norm-Shattering Mortgage Push
What was once dismissed as a fringe fantasy by a niche band of crypto believers is now being tentatively examined by the government-sponsored entities at the core of the US housing market.
Trump Hails $92 Billion in Investments for AI, Energy Projects
President Donald Trump hailed more than $92 billion in investments in artificial intelligence and energy infrastructure during a visit to Pennsylvania, highlighting his efforts to bolster US competitiveness in the AI field.
Weathering the Storm: Case for Low Volatility ETFs
Low volatility exchange traded funds are a compelling solution for those looking to dampen risk while staying invested.
Must Value Be Anti-Growth?
The RAFI™ Fundamental Index has a value tilt, but to characterize it as a value index would be an oversimplification that misses the important advantages that the fundamental index offers above standard “value” index approaches.
Corporate Guidance Key as Tariffs Threats Resurface
Markets continued their strong run last week before pulling back slightly as a flurry of tariff rhetoric hit the wires. It’s important to understand markets are rallying because they assume these tariff threats are more political posturing than lasting economic policy.
Empire State Manufacturing Survey: Activity Picked Up in July
Manufacturing activity expanded for the first time in five months in New York State, according to the Empire State Manufacturing July survey. The diffusion index for General Business Conditions rose 21.5 points to 5.5. The latest reading was better than the forecast of -8.3.
The $10 Billion Club: New Stars in Active Bonds
Last week, the iShares Flexible Income Active ETF (BINC) reached a significant milestone and became the latest member of the $10 billion of the active fixed income club.
Zuckerberg’s $100 Million AI Job Offers Are Paying Off
Nothing says talent war like a $100 million job offer. Mark Zuckerberg has been on a hiring blitz for AI’s most revered scientists, sending them cold emails and offering them roles in his new Superintelligence Labs division whose goal is nothing less than to build artificial-intelligence software that’s smarter than humans.
Are Small Caps Next in Line to Shine?
The valuation of small-cap stocks relative to large caps remains historically attractive, and small-cap recoveries in the past have resulted in meaningful periods of outperformance.
Multi-Asset Income Midyear Outlook: Income and Resilience Among the Bumps
Compelling bond yields and diverging equity returns offer building blocks for effective strategies.
Huawei Seeks AI Chip Customers in Middle East, Southeast Asia
Huawei Technologies Co. is trying to export small quantities of AI chips to the Middle East and Southeast Asia, an effort to establish a foothold in markets dominated by Nvidia Corp. despite ongoing manufacturing challenges.
Outperformance in Extraordinary Times
How the Matthews Emerging Markets Equity Fund’s strategy helped it achieve outperformance during a historic period for global markets.
Examining the 60/40 Portfolio With Brian Ullsperger
In the latest Alternative Allocations, with guest Brian Ullsperger from Andersen, Tony Davidow examines the traditional 60/40 portfolio and how it can be expanded to include alternatives to meet clients’ needs.
Wall Street Is Wrong on Airlines: Americans Are Flying Like Never Before
If you’ve been following the mainstream financial media lately, you might think the airline industry is in crisis. From headlines about tariffs and labor costs to geopolitical tensions and delays at Newark Airport, it sounds like air travel should be tanking.
The Great RIA Consolidation: Private Equity Reshapes Wealth Management
Private equity has officially conquered the registered investment advisor (RIA) landscape. It is now responsible for a significant portion of RIA-linked M&A activity.
The AI Arms Race Heats Up: June’s Robotics & Automation Playbook
Below, we recount highlights from constituents of the ROBO Global Robotics and Automation Index (ROBO) and the ROBO Global Artificial Intelligence Index (THNQ).
BlackRock Weighs Selling Stake in Saudi Aramco Gas Pipelines
BlackRock Inc. is considering a sale of its stake in the leasing rights to Saudi Aramco’s natural-gas pipeline network back to the energy giant, according to people familiar with the matter.
Need Income? Europe’s Commercial Real Estate Debt is Worth a Look
Investors looking for cash flow from commercial real estate may want to check out the debt side.
Growth Equity Portfolio Second Quarter Review June 30, 2025
This quarter might best be described as the “Big Beautiful Bounce”. Or the BBB. History has proven time and time again that markets do come back – but this was a historically quick market turnaround.
Quantstreet July 2025 Letter: Geopolitics and Markets
After a tumultuous few months, June of 2025 saw a strong rally which took global markets to (or close to) new highs. The rally was broad-based, with international and U.S. markets all up strongly.
Lessons From the Past, Strategies for the Future
From investing to economics to politics, patterns emerge, lessons resurface and the past becomes a powerful guide for navigating today’s unpredictable landscape. Timing, perspective and adaptability can make all the difference in managing the complexities of modern markets.
Private Credit Outlook: Five Lessons Learned
Some say private credit hasn’t been tested. We disagree…and stress can sharpen the senses.
Markets Soar on Rate Cut Hopes, Job Strength
On the latest edition of Market Week in Review, Global Chief Investment Strategist Paul Eitelman explored key drivers behind the strong performance in markets. He also provided an update on a proposed U.S. tax measure.
The S&P 500, Dow and Nasdaq Since 2000 Highs as of June 2025
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the June 2025 close.
Expand Your Mind and Your Commodity Universe
For good reasons, many investors have a love-hate relationship with commodity investments. Operationally, the annoying K-1 form complicates tax filing, although thankfully the industry has started to launch “no K-1” funds.
Active Management Comes for Private Credit
As direct lending matures and other private credit areas expand, active investors can apply relative value strategies across sectors – and even entire markets – to pursue enhanced outcomes.
Visa, Mastercard Race to Capture a $253 Billion Crypto Threat
A turf war is breaking out in the vast world of digital payments — and the incumbents are suddenly on defense.
Trump Succeeds at Pushing NATO to Spend Five Percent as New Arms Race Begins
Readers of a certain age will no doubt recall President Ronald Reagan launching one of the most ambitious military buildups in American history.
Tariffs Rattle Markets—But EM Debt Endures
The United States’ tariff announcement on April 2, 2025, created significant market volatility, as the tariffs were perceived as higher, broader, and more punitive than expected, and the implementation sooner.
Two Measures of Consumer Attitudes: June 2025
What are consumers thinking about the economy? Their collective mood offers crucial clues for businesses, investors, and policymakers alike. Two prominent monthly surveys, the University of Michigan Consumer Sentiment Index (MCSI) and the Conference Board Consumer Confidence Index (CCI), aim to capture this vital pulse. In June, these gauges sent mixed signals: the MCSI rose for the first time in six months, reaching 60.7, while the CCI retreated to 93.0, erasing nearly half of its prior gains.
Bend, Not Break: Investing in Real Estate Amid Economic Uncertainty
Until recently, commercial real estate appeared poised for a long-awaited rebound. However, 2025 has revealed a new reality: Uncertainty has become structural.
Meet the 899-Ton Elephant in U.S. Tax Reform
It’s often said there are only two certainties in life: death and taxes. However, the tax landscape may become somewhat murkier, as the recently passed U.S. House budget bill may potentially lead to some non-U.S. investors paying more taxes than previously anticipated.
Why More Advisors than Ever are Personalizing Portfolios with Tax-Efficient SMAs
As the advisory landscape continues to evolve, one theme is increasingly clear: advisors need more flexibility to meet the diverse and growing expectations of their clients.
China’s AI Dragons Risk Choking Each Other
It’s a story that has played out many times in the history of China’s tech sector. Notoriously fierce competition means that whenever a new craze comes along, scores of rivals emerge ready to pounce.
How to Avoid Bank Safety’s Death by Many Cuts
The Federal Reserve is aiming to lessen the costly fluctuations in bank capital demands created by its annual stress tests. But big lenders are pushing for more relief while the central bank is politically weakened and some board members seem keen to please the White House.
Despite Mainstream Pessimism, Gold Still Shines: Why the Bull Market Isn’t Over
Money Metals Midweek Memo host Mike Maharrey isn’t buying the recent bearish turn in gold forecasts from Wall Street.
The Big Four Recession Indicators: Real Personal Income Down 0.1% in May
Personal income (excluding transfer receipts) was flat in May and was up 3.9% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was down 0.1% month-over-month and up 1.5% year-over-year.
401(k)s Weren’t Built for the Gen Z Economy
The newest generation of college graduates will switch jobs more than a dozen times over the course of their careers. They will juggle side gigs, launch businesses, and step in and out of traditional roles.
‘King Dollar’ Challenged…But Not Vanquished: Still No Substitute for the World’s Reserve Currency
While both valuation and technical factors suggest to us that the dollar may continue to weaken in the near-term, we would caution investors against reading too much concerning the US’ long-term economic stability into further dollar weakness.
Determining Cultural Fit: 25 Key Questions
If you are considering merging or acquiring another practice, consider having each party answer some of the following questions to see where you both stand.
Customize to Optimize: Combining Fixed Income and Direct Indexing
How do direct indexing ideas fit into a fixed income portfolio? These two powerful strategies make one compelling combination with potential tax and risk management opportunities.
S&P CoreLogic Case-Shiller Index: Annual Gains Continue to Slow
Home prices declined in April as the benchmark national index fell for a second straight month. The seasonally adjusted home prices for the national index saw a 0.4% decrease month-over-month and a 2.7% increase year-over-year. This marks the third straight month of year-over-year declines and is the smallest annual gain since August 2023. After adjusting for inflation, the monthly change fell to -0.8% and annual change fell to -1.5%.
Value of an Advisor 10th Anniversary Edition: The Importance of an Experienced Guide June
When navigating the unknown, an experienced guide can ensure you don’t veer off the path to your chosen destination, can prevent you from stumbling over hazards, and ensure you have the tools you need to finish the journey safely and soundly.
The Top Reason to Consider a Multisector Fund for a Core Bond Allocation
Portfolio Managers John Kerschner and John Lloyd and Client Portfolio Manager Steve Preikschat investigate the case for multisector bond funds as a core fixed income allocation.
Healthcare Uncertainty Demands Investment Plan
With the House passing of The Big Beautiful Bill, the challenges facing chief financial officers and treasurers across health-care systems are likely to grow. The proposed cuts to reimbursements will have varying impacts across organizations depending on their payer mix.
2025 Midyear Outlook: For Fixed Income, Slow and Steady Wins the Race
While stocks experienced a roller-coaster ride powered by policy uncertainty, fixed income generally held up well despite the broader market turbulence. Will it be the same story in the second half? Let’s take a closer look.
More Income, Less Volatility? The Case for Going Global
Fixed-income investors concerned about tariffs and US exceptionalism may find opportunities in hedged global bonds.
5 Themes Defining Bond ETF Investing Today
New strategies, shifting flows, and innovative technologies are driving a more dynamic and diversified marketplace in fixed income ETFs.
Nvidia’s ‘Sovereign’ AI Could Win a Prize for Irony
Nvidia Corp. billionaire boss Jensen Huang, clad in his signature leather jacket, has been crisscrossing European capitals and sharing the stage with the likes of Keir Starmer and Emmanuel Macron as he pitches “sovereign” artificial intelligence, a vision of new data centers offering essential compute power within national borders rather than via dominant tech firms from abroad.
The Big Four Recession Indicators: Real Retail Sales Fall 1.0% in May
Nominal retail sales in May were down 0.91% month-over-month (MoM) and up 3.29% year-over-year (YoY). However, after adjusting for inflation, real retail sales were down 0.99% MoM and up 0.89% YoY.
Buy, Borrow, Die: Why This Popular Tax Strategy for the Rich Doesn’t Work
The ever-louder brouhaha surrounding BBD is much ado about nothing. It is expensive, dangerous, and likely to benefit only bankers and brokerage firms.
Meta Gets Out Its Checkbook to Catch Up in the AI Race
It sounded like something that should have come from the sports desk — a $14.3 billion transfer fee for a young up-and-coming prospect as Meta Platforms Inc. looks to rebuild its team for the tough season ahead.
The Investment Signal in the Noise
Separating the signal from the noise may be the hardest challenge investors face. We’re all surrounded by constantly changing but mostly unimportant information. Of the small part that really is important, we must decide if it affects our investments.
Building Steady Streams: Dividend ETFs in Focus
Fears of an impending recession may be fading, but economists are still expecting tepid GDP growth for the year.
From Factory Floor to Autonomous Fleet: The Realignment of Robotics in 2025
Industrial robotics is no longer a niche topic reserved for factory optimization—it is becoming a key lever in national strategies for productivity, labor substitution and supply chain resilience.
AI: The Challenges for Investors
In part one of our new series, AI Alpha, we explored the sweeping potential of artificial intelligence (AI) as a transformative force.
Fixed Income Outlook: A Not-so-Random Walk
Alex Veroude, Global Head of Fixed Income, believes fixed income investors can prepare for an uncertain journey by recognising trends and diversifying across different assets.
What Closed-End Funds Could Offer Amid Uncertain Times
Global markets may be more rattled than ever, but advisors can count on closed-end funds to offer yield, portfolio diversity, and more.
The Florida Pension Fund Managers Who've Beaten the S&P 500 Over 50 Years
Unlike most other US public retirement plans of its size, the Tampa Fire & Police Pension Fund doesn’t invest in hedge funds, private equity or private credit.
A Digital Dollar Is a Trade War Weapon
While crypto’s roots are libertarian and anti-state, stablecoins could serve to entrench the existing tech and monetary order dominated by the US, as 95% of them are dollar-denominated.
Deficit Pressures Treasuries… But No Crisis: US Treasury Market Is ‘Too Big to Fail’
The first half of 2025 has been driven by headlines that have caused volatility in both the stock and bond markets. While tariff negotiations have commanded the most attention, we are now pivoting to the federal budget deficit, which feels like a perpetual headline over the last 15 years.
The Fragmentation Era
With the world order in flux, investors can look to fortify portfolios by diversifying across global markets and capitalizing on attractive, high quality yields.
Equity Analysts Are Over Liberation Day Tariffs
Wall Street analyst outlooks are typically bullish. If you aggregate every price target on every S&P 500 Index company and weight them to match the index, it’s exceedingly rare for the overall number to fall.
What's the 10-Year Outlook for Major Asset Classes?
The global economy is continually evolving due to inflation, interest rates, and geopolitics. How could these and other factors influence the major asset classes over the coming decade?
Intersection of Robotics & AI: Crucial Theme for Tech Sector
Robotics was one of the earliest examples of a disruptive technology. It enjoyed some time in the investment community limelight. But it was rapidly usurped by other innovative technologies, including AI.
What's Holding Back Small Caps?
Small-cap stocks tend to offer greater growth potential than their large-cap peers, but those returns have yet to materialize consistently. What will it take to turn the tide?
Stablecoins Bring Crypto to the Mainstream. What Could Go Wrong?
Stablecoins are a special flavor of cryptocurrency. Unlike Bitcoin or countless wildly traded memecoins, whose values rise and fall based on market moods, the most popular versions of these digital tokens are supposed to always be worth $1 each.
Meet the “Hermès of Gold” the Chinese Can’t Get Enough Of
The Fear Trade is what most Western investors are familiar with. It’s the flight to safety during times of uncertainty, driven by concerns over inflation, interest rates, geopolitical risk and more.
Implementation Matters. Is Your OCIO Built to Execute?
Here’s the blunt truth: Many great investment strategies fail because of poor implementation. Robust capabilities in trading, transition management, overlays and currencies are critical to executing a strategy.
What Do ETF Boards Do? MFDF’s Carolyn McPhillips Explains
Carolyn McPhillips, President of MFDF, sheds light on the evolving role of ETF directors and their growing importance as investment products become more complex – particularly in emerging areas like crypto and private assets. VettaFi’s Zeno Mercer explores artificial intelligence ETFs, highlighting new launches and offering tips to help investors navigate this rapidly expanding category.
Stablecoins to the Treasury’s Rescue
Stablecoins and the concept of digital money represent a significant shift from the current system. While there are many risks with digital money, there is also promise.
Retail Quants May Be the Next Stabilizing Force for Markets
Retail traders using sophisticated quantitative strategies are starting to have a surprising and noticeable impact on financial prices.
Investing Expeditions: The Ripple Effects of Trade Uncertainty
Research trips are an integral component of our active, fundamental investment process. Our investment teams meet with different companies, attend conferences, and travel to new markets around the world, gaining insights for our clients and a deeper understanding of potential investments.
A Roundup of the Most Innovative ETFs Launched in May
The ETF market saw a noticeable slowdown of new products launched in May; however, innovation continued to be a driving force.
The Debt Spiral, Gold’s Rise, and the Dollar’s Fall
Gold’s recent surge to $3,500 was quickly followed by a sharp correction. Each tariff update or diplomatic rumor sends markets into a frenzy—rallying stocks, selling gold, or reversing course the next day.
Active EM ETF Offers Access to a Time-Tested Strategy
Since 2019 and the establishment of the ETF Rule, traditional active managers, armed with decades of expertise, have flocked to ETFs.
Navigating a Sea of Investment-Grade Credit
In our view, using quantitative methods in a transparent, repeatable way to extract alpha through diversified factor tilts offers a compelling alternative in this new IG environment.
Why the Recession Call Matters for Stocks
This past week, news flow around policy came in hot and heavy, with President Trump’s ‘Big, Beautiful’ tax cut bill passing the House of Representatives, and Trump threatening 50% tariffs on the European Union (EU).
iPhones Defined the Last Era, Proactive AI Agents Will Define the Next
A monumental week of announcements from Google, Microsoft, and Anthropic signals a strategic shift from standalone AI models to integrated “AI agents” that can act on a user’s behalf.
Beyond Service Expansion: Why Better Client Communication Drives Growth
Clients aren’t asking their financial advisor to be everything. They’re asking for clarity and confidence in what matters most to them. Simplifying the client experience may be the most strategic move advisors can make.
Cantor Fitzgerald Agrees to Buy UBS Hedge Fund Unit O’Connor
Cantor Fitzgerald LP agreed to buy UBS Group AG’s O’Connor unit, ending more than three decades of ownership by the Swiss bank and placing the hedge fund back in control of one of its early founders.
The Endowment Tax: Thoughts and Considerations for Investors
The Endowment Tax was introduced during the first Trump administration as part of the 2017 Tax Cuts and Jobs Act (TCJA).
US Tariff Countdown Heats Up Race to Turn Talks Into Deals
Halfway through President Donald Trump’s 90-day freeze on his so-called reciprocal tariffs, a persistent gripe from businesses, consumers and governments facing them is severe uncertainty.
Credit Downgrade: Markets Poised to Shake it Off
America’s fiscal woes are nothing to sneeze at, but they’re also nothing new. Which is why we expect markets to largely shrug off the latest credit-rating cut.
5 Unique Passive ETF Ways of Owning the S&P 500
One of the biggest stories in the ETF market in 2025 has been the nonstop impressive asset-gathering pace of the Vanguard S&P 500 ETF (VOO).
America’s Debt Problem is Also a Retirement Problem
The wise minds at Moody’s Investors Service finally acknowledged last week what the other two main credit rating agencies did years ago.
Private Equity's Big Guns Are Tearing Up the Rules on Leverage
As one of the world’s largest sovereign wealth funds warned this week that private equity is “very troubled” right now, a spate of recent buyout deals in Europe and the US points to a possible route out of the mire.
Don’t Overlook the Human Element of OCIO
Best-in-class OCIO providers understand the importance of a deep relationship and will invest considerable time cultivating one.
The Real AI Revolution Is Accessibility
In a year dominated by multimodal marvels and reasoning breakthroughs, perhaps the most economically significant shift in AI went largely underplayed: cost collapse.
Inflation Continues to Cool
The April Consumer Price Index (‘CPI’) report was released last Wednesday and gave the Federal Reserve another positive data point in its inflation fight, as did Thursday’s negative Producer Price Index (‘PPI’).