A look at our most widely read articles for January reveals a motley crew, ranging from thought pieces on best practices for managing your advisory firm to explorations of the potential for stock market disaster.
The best performing US blue-chip bond funds of 2024 are sticking to their winning playbook: investing in debt from riskier blue-chip companies, as well as firms that can handle economic turbulence — and avoiding corporations sensitive to interest-rate risk.
We hope you enjoy the latest newsletter from Harold Evensky.
Raymond James CIO Larry Adam looks at how the proposed tariffs may impact the economy and financial markets.
In a first quarter 2025 asset allocation report, Confluence expects resilient economic growth in the short term.
2025's complex market environment lays the groundwork for active bond strategies to potentially shine, according to MFS and AllianceBernstein.
Treasury Secretary Scott Bessent said the Trump administration’s focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve’s benchmark short-term interest rate.
The resilience of the labor market over the past year has, in large part, been about strength in sectors such as education, health care and government that are somewhat immune to economic cycles.
We analyze the impact of U.S. tariff proposals on markets and how investors can manage their portfolios accordingly.
Factories across the world are growing increasingly idle. Global industrial capacity utilization (CAPU) has fallen significantly, and a rising unemployment rate has followed suit, signaling that the available factors of production globally are progressively more redundant.
Many market observers are forecasting leadership from active fixed income exchange traded funds this year.
The January U.S. Services Purchasing Managers' Index (PMI) from S&P Global came in at 52.9, slightly above the 52.8 forecast. The reading marks the 24th consecutive month of expansion but is the weakest since April.
Despite still elevated domestic inflation, weak growth and inflation projected at target this year strengthen the case for further rate cuts.
Stocks rallied in early 2025 as market leadership shifted, with Large Cap Value outperforming growth stocks, while a major AI development from China triggered a sell-off in U.S. technology stocks, raising concerns about the future of AI leadership and high-end chip demand. For investors the implications are more significant for fixed income portfolios, while equities should continue to do well as long as the labor market holds up.
The evolving high-yield markets make the case for a global, multi-sector approach to generating income.
Managers see mixed opportunities in emerging markets and a broadening opportunity set for small caps across global markets.
Vanguard Group has slashed the fees for dozens of its mutual funds and ETFs in a record move that’s likely to send a shock wave through the asset management industry.
A surprise is a completely unexpected outcome. By definition, a surprise is improbable, and its occurrence is rare. It seems strange then to try to predict three of them every year.
The fourth quarter was particularly volatile in fixed income markets, with U.S. government bond yields surging on worries over the rising fiscal deficit and the potential for inflation to reaccelerate.
After cutting rates at the past three meetings, it looks like the Federal Reserve has reached a plateau.
Facing an uncertain outlook, the Federal Reserve holds rates steady and signals a watch-and-wait approach.
The higher yields they currently offer can be a benefit for income-oriented investors, but those yields reflect the additional risks they face.
A small band of Wall Street skeptics are moving to protect their credit portfolios against a market priced like nothing in the economy could possibly go wrong.
Investors may be at a crossroad in early 2025. US equities have recovered from the 2022 bear market with two exceptional years of +25% returns.
The global economy will grow at a pace close to that achieved in 2024, notes European Strategist Professor Jeremy Batstone-Carr.
China’s efforts to steer between domestic and international growth challenges in 2025 could be good for bond investors.
Can corporate profits reignite after a rocky 2024? This earnings season could either fuel the market’s fire or leave it gasping for air.
Concerns about the outlook for Treasuries have fueled a resurgence of interest in the Magnificent 7 as a target for safe-haven flows.
Equity markets are facing a variety of headwinds, but the economy remains strong, and we believe there will be ample opportunities to invest in attractively valued quality growth companies in 2025.
The Federal Reserve concluded its first meeting of 2025 by keeping the federal funds rate (FFR) at 4.25-4.50%, marking the first time in four meetings that the Fed has not cut interest rates.
Close scrutiny of the investment landscape reveals there is precious little room for the Trump administration to improve conditions for stocks. There is also room for current narratives to fall a long way.
Local currency rates and FX screen very attractive, while hard currency credit is neutral. In our Quarterly Valuation Update, we provide our Q4 assessment.
During a rocky fourth quarter, strength in the financials sector was a unifying theme across global markets.
In our view, active investors face opportunities to outperform created by looming policy changes and the macro landscape.
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
While planning for a CMA (Capital Market Assumptions) at the close of the year—and in the wake of an unexpected U.S. election result—it’s tempting to adopt a short-term perspective, focusing on the uncertainties and anxieties generated by President-elect Trump’s policies and their potentially disruptive impact on the economy and the market.
Oaktree Capital Group LLC co-founder Howard Marks says investors who made a fortune in the era of easy money should not expect the same strategies to deliver such exceptional returns in the future.
As 2025 begins, the core narrative of global resilience (built throughout 2024) faces fresh uncertainties. Gradual rate cuts, a continued slide in inflation, and steady – if modest – economic growth could set the tone for constructive market performance.
We explore how evolving priorities under the new U.S. administration may influence markets and investor outlooks.
Four strategies for navigating crosswinds in the municipal bond market.
Bonds look attractive again after the most recent rise in interest rates. Markets are likely to continue to overreact to every new employment report and inflation reading, keeping interest rate volatility elevated as yields dance up and down with each data point.
The fourth quarter of 2024 was not just a period of optimism and recovery but also one of reflection and recalibration.
US bond funds actively managed by industry heavyweights like Pacific Investment Management Co. attracted the most new investment last year as money returned after a two-year dry spell.
For stocks, Christmas came with a 'Santa Clause' rally soon after the election. Since then, there's been a correction in US markets.
This article provides the Beaumont Capital Management Q4 2024 Market and Strategy Commentary - Decathlon Strategies.
US equity markets rallied just enough to round out 2024 with all four quarters posting positive returns. The S&P 500® Index finished the fourth quarter up 2.41%, bringing the year’s total return to 25.02%.
When investors have been looking to allocate funds within the U.S. fixed income markets, credit has seemingly been viewed as being perhaps too “rich,” or expensive, in relative terms.
Senior Investment Strategist Tracey Manzi notes that the Federal Reserve's ongoing easing cycle should benefit short to intermediate maturities.
Investors, many of whom were worried about stock valuations before the election, have much to consider heading into 2025. There seems reason for some exuberance—but a rational exuberance, based upon a plausible foundation of corporate and economic health.
Today’s video on the Utility Sector is another in the continuing series of videos where we are looking for value in each of the 11 major sectors as reported by Standard & Poor’s. This particular video is going to be on Utility Stocks.
Markets vigorously adjusted expectations for a new regulatory, economic, and geopolitical landscape driven by U.S. politics.
It is sometimes perceived that the Fed’s action changes all interest rates across the yield curve, but that needs to be put in perspective.
On this episode of the “ETF of the Week” podcast, VettaFi’s head of research, Todd Rosenbluth, discussed the Invesco KBW Bank ETF (KBWB) 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.
The pairing of active management and fixed income could be as important as any time in recent memory.
At the start of every year, we publish our popular Periodic Table of Commodity Returns, an interactive infographic of the gains and losses across the commodities market.
Donald Trump’s return to the White House will likely protect US stocks from a big selloff, according to Bank of America Corp. strategists, as investors focus on his protectionist agenda and proposals for lower corporate taxes.
Strong U.S. economic data has spurred a strong rise in Treasury yields but a tepid response in the stock market. Uncertainty likely will continue in coming months.
New policies could disrupt markets, but high starting yields and strong demand for income should provide ballast.
In response to the 2008 stock market and real estate crash, the Federal Reserve stimulated the economy by reducing interest rates to (almost) zero under its zero interest-rate policy (ZIRP). It “printed money” that amazingly did not bring serious inflation, yet.
With all eyes focused on the White House, investors must decide what the incoming President’s policies will mean for markets and how to position accordingly. Ahead of the inauguration, we asked our portfolio managers what they think should be front of mind.
While stocks can move higher, the bond market will continue to matter. Higher rates suggest that equity leadership may continue to reside in companies that are relatively rate insensitive.
Friday’s rip-roaring jobs report has pushed the betting markets to price in a single rate cut for the entire year of 2025.
Builder confidence inched up in January to its highest level in 9 months on hopes for economic growth and an improved regulatory environment. The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose to 47 this month, up one point from December. The latest reading came was above the forecast of 45.
The latest updates on the labor market and consumer prices show President-elect Donald Trump inherits an economy where inflation is poised to return to the Federal Reserve’s target later this year.
Amid an unsettled global economic outlook and elevated equity valuations, bond markets present attractive yields and important diversification benefits.
Use this guide to transform our 2024 Retirement Insights into action in 2025, focusing on areas of plan design, tax credits and participant engagement. Our Mike Dullaghan shares the highlights.
Although we are loath to make predictions, conditions appear to be favorable for fixed income in the coming year, and we think investors should consider adjusting their allocations accordingly.
US government bonds surged as benign inflation data prompted traders to resume their bets on additional Federal Reserve interest rate cuts by July.
The calendar page has turned, and that means we have the opportunity to get 2025 off to a good start.
Direct indexing has been around for more than 30 years, yet many people still don’t know what it is or how it continues to grow and evolve.
The global economic landscape continues to evolve, and 2025 promises to be a year of adaptation and resilience.
Uncertainty with regard to interest rate policy warrants an active management strategy inherent in the Vanguard Short Duration Bond ETF.
Nothing is more fundamental to the current health of the economy than jobs creation and income growth.
Active fixed income could stand out in 2025, with active offering a way to refresh bond portfolios and allocations.
Managing Director, Washington Policy Analyst Ed Mills looks at how several of the top market-relevant Washington DC issues could play out in 2025.
On this episode of “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth joined Chuck Jaffe of Money Life to talk about the Fidelity Blue Chip Growth ETF (FBCG).
Markets are coming off back-to-back gains of more than 20% each on an annual basis. The chances of a hat trick in 2025 are slim to none.
I’m not ready to concede that active bests the benchmarks by adding what I consider alpha. For example, “positioning the fund to have more credit risk than its benchmark” is a risk premium much in the same way that the equity risk premium produced returns over the risk-free rate. The credit risk premium may be worth it, but that’s beta, not alpha.
As we enter 2025, the financial markets are optimistic. That optimism is fueled by strong market performance over the last two years and analyst’s projections for continued growth. However, as “Curb Your Enthusiasm” often demonstrates, even the best-laid plans can unravel when overlooked details come to light. Here are five reasons why a more cautious approach to investing might be warranted in 2025.
Many people these days are on heightened alert for bubbles, and I’m often asked whether there’s a bubble surrounding the Standard & Poor’s 500 and the handful of stocks that have been leading it.
After another resilient year for the US economy, we look ahead to the new year.
As we enter 2025, there has been a lot of conjecture about a return to the 5% threshold.
Chief Economist Eugenio Alemán and Economist Giampiero Fuentes break down the factors likely to impact economic growth, inflation and interest rates.
U.S. equities closed 2024 on top and U.S. growth took back leadership from U.S. value.
US equities were up notably in 2024, due to a strong economy, accelerating earnings growth, US election results, and AI/mega-cap strength.
Since dividend investing can be boiled down to a single strategy—generating income—you might assume we don’t need a toolbox full of tools. We know that’s not true.
Yields may trade in a wide range as markets work through issues in the new year. Navigating volatility may mean capturing higher nominal and real yields over the longer term.
Two key components drive the shape of the yield curve: expectations for the short-term interest rate and expectations for the term premium.
Active Fixed Income
January’s Top 10 Articles Are an Educational Selection
A look at our most widely read articles for January reveals a motley crew, ranging from thought pieces on best practices for managing your advisory firm to explorations of the potential for stock market disaster.
Investors See High-Grade Debt, MBS as Top Bets of 2025
The best performing US blue-chip bond funds of 2024 are sticking to their winning playbook: investing in debt from riskier blue-chip companies, as well as firms that can handle economic turbulence — and avoiding corporations sensitive to interest-rate risk.
Newsletter January 2025
We hope you enjoy the latest newsletter from Harold Evensky.
Potential Impact of Tariffs Weighing on Markets, Corporations
Raymond James CIO Larry Adam looks at how the proposed tariffs may impact the economy and financial markets.
Confluence Asset Allocation Quarterly (First Quarter 2025)
In a first quarter 2025 asset allocation report, Confluence expects resilient economic growth in the short term.
Active Managers Talk Bond Investing in 2025
2025's complex market environment lays the groundwork for active bond strategies to potentially shine, according to MFS and AllianceBernstein.
Bessent Says Trump Wants Lower 10-Year Yields, Not Fed Cuts
Treasury Secretary Scott Bessent said the Trump administration’s focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve’s benchmark short-term interest rate.
Principal, Pimco Bet on Debt From Riskier High-Grade Companies
The best performing US blue-chip bond funds of 2024 are sticking to their winning playbook: investing in debt from riskier blue-chip companies, as well as firms that can handle economic turbulence — and avoiding corporations sensitive to interest-rate risk.
The Job Market Is Weaker Than It Looks
The resilience of the labor market over the past year has, in large part, been about strength in sectors such as education, health care and government that are somewhat immune to economic cycles.
What the U.S. Tariffs Mean for Investors
We analyze the impact of U.S. tariff proposals on markets and how investors can manage their portfolios accordingly.
Quarterly Review and Outlook: Fourth Quarter 2024
Factories across the world are growing increasingly idle. Global industrial capacity utilization (CAPU) has fallen significantly, and a rising unemployment rate has followed suit, signaling that the available factors of production globally are progressively more redundant.
Active Fixed Income ETFs Can Extend Momentum in 2025
Many market observers are forecasting leadership from active fixed income exchange traded funds this year.
S&P Global Services PMI: Weakest Expansion Since April
The January U.S. Services Purchasing Managers' Index (PMI) from S&P Global came in at 52.9, slightly above the 52.8 forecast. The reading marks the 24th consecutive month of expansion but is the weakest since April.
ECB: Heading Towards Neutral
Despite still elevated domestic inflation, weak growth and inflation projected at target this year strengthen the case for further rate cuts.
Stocks Rally in Early ’25, New Winners Emerge
Stocks rallied in early 2025 as market leadership shifted, with Large Cap Value outperforming growth stocks, while a major AI development from China triggered a sell-off in U.S. technology stocks, raising concerns about the future of AI leadership and high-end chip demand. For investors the implications are more significant for fixed income portfolios, while equities should continue to do well as long as the labor market holds up.
In the Hunt for Income, It’s Wise to Broaden Your Horizons
The evolving high-yield markets make the case for a global, multi-sector approach to generating income.
February 2025 Active Management Insights: Increased Global Opportunities in Small Caps
Managers see mixed opportunities in emerging markets and a broadening opportunity set for small caps across global markets.
Vanguard’s Average Fee Is Now Just 0.07% After Biggest-Ever Cut
Vanguard Group has slashed the fees for dozens of its mutual funds and ETFs in a record move that’s likely to send a shock wave through the asset management industry.
Three Surprises for 2025: Overcoming One-way Investor Sentiment
A surprise is a completely unexpected outcome. By definition, a surprise is improbable, and its occurrence is rare. It seems strange then to try to predict three of them every year.
Quarterly Trading Report – Q4 2024: Volatility returns
The fourth quarter was particularly volatile in fixed income markets, with U.S. government bond yields surging on worries over the rising fiscal deficit and the potential for inflation to reaccelerate.
Fed Holds Steady, Keeps Door Open to Future Moves
After cutting rates at the past three meetings, it looks like the Federal Reserve has reached a plateau.
Fed Sees No Need to Hurry
Facing an uncertain outlook, the Federal Reserve holds rates steady and signals a watch-and-wait approach.
Are Preferred Securities Still Attractive?
The higher yields they currently offer can be a benefit for income-oriented investors, but those yields reflect the additional risks they face.
Credit Skeptics Place a $10 Billion Bet in High-Priced Market
A small band of Wall Street skeptics are moving to protect their credit portfolios against a market priced like nothing in the economy could possibly go wrong.
2025 Equity and Volatility Outlook: Is the US Equity Investor at a Crossroad?
Investors may be at a crossroad in early 2025. US equities have recovered from the 2022 bear market with two exceptional years of +25% returns.
2025 International Outlook
The global economy will grow at a pace close to that achieved in 2024, notes European Strategist Professor Jeremy Batstone-Carr.
China Seeks Wiggle Room for Growth in Year of the Snake
China’s efforts to steer between domestic and international growth challenges in 2025 could be good for bond investors.
Trading Q4 Earnings: Will Bulls Fly or Just Get Gored?
Can corporate profits reignite after a rocky 2024? This earnings season could either fuel the market’s fire or leave it gasping for air.
Magnificent 7 to the Rescue!
Concerns about the outlook for Treasuries have fueled a resurgence of interest in the Magnificent 7 as a target for safe-haven flows.
Equity Outlook: Climbing the Wall of Worry
Equity markets are facing a variety of headwinds, but the economy remains strong, and we believe there will be ample opportunities to invest in attractively valued quality growth companies in 2025.
The Fed’s Latest Rate Decision: January 29, 2025
The Federal Reserve concluded its first meeting of 2025 by keeping the federal funds rate (FFR) at 4.25-4.50%, marking the first time in four meetings that the Fed has not cut interest rates.
Market Review Q4 24
Close scrutiny of the investment landscape reveals there is precious little room for the Trump administration to improve conditions for stocks. There is also room for current narratives to fall a long way.
Valuation Metrics in Emerging Debt: 4Q24
Local currency rates and FX screen very attractive, while hard currency credit is neutral. In our Quarterly Valuation Update, we provide our Q4 assessment.
Q4 2024 Active Management Review: Strength in Financials and Tech
During a rocky fourth quarter, strength in the financials sector was a unifying theme across global markets.
Capital Markets Outlook 1Q 2025: Mind the Gaps
In our view, active investors face opportunities to outperform created by looming policy changes and the macro landscape.
The Opportunity Right in Front of Investors
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
Missing the Forest For the Tree: Lumen R4A Long-Term Capital Market Assumptions
While planning for a CMA (Capital Market Assumptions) at the close of the year—and in the wake of an unexpected U.S. election result—it’s tempting to adopt a short-term perspective, focusing on the uncertainties and anxieties generated by President-elect Trump’s policies and their potentially disruptive impact on the economy and the market.
Oaktree’s Howard Marks Says Don’t Expect Low-Rate Era to Return
Oaktree Capital Group LLC co-founder Howard Marks says investors who made a fortune in the era of easy money should not expect the same strategies to deliver such exceptional returns in the future.
2025 Outlook: Balancing Resilience, Policy Changes, and Evolving Market Trends
As 2025 begins, the core narrative of global resilience (built throughout 2024) faces fresh uncertainties. Gradual rate cuts, a continued slide in inflation, and steady – if modest – economic growth could set the tone for constructive market performance.
The Price of Progress
We explore how evolving priorities under the new U.S. administration may influence markets and investor outlooks.
Municipal Outlook 2025: Battling Headwinds, Harnessing Tailwinds
Four strategies for navigating crosswinds in the municipal bond market.
Bonds Beckon with Higher Yields
Bonds look attractive again after the most recent rise in interest rates. Markets are likely to continue to overreact to every new employment report and inflation reading, keeping interest rate volatility elevated as yields dance up and down with each data point.
A Rollercoaster Finale to 2024
The fourth quarter of 2024 was not just a period of optimism and recovery but also one of reflection and recalibration.
Pimco, Dodge & Cox Lead Revival in Actively Managed Bond Funds
US bond funds actively managed by industry heavyweights like Pacific Investment Management Co. attracted the most new investment last year as money returned after a two-year dry spell.
Not Time Yet for Stocks to Worry About Rising Rates
For stocks, Christmas came with a 'Santa Clause' rally soon after the election. Since then, there's been a correction in US markets.
Priced for Perfection: S&P 500 Increasingly Dependent on the AI Trade
This article provides the Beaumont Capital Management Q4 2024 Market and Strategy Commentary - Decathlon Strategies.
Harvesting Tax Losses When Markets Keep Posting Positive Returns
US equity markets rallied just enough to round out 2024 with all four quarters posting positive returns. The S&P 500® Index finished the fourth quarter up 2.41%, bringing the year’s total return to 25.02%.
Just How 'Rich' Is U.S. Credit?
When investors have been looking to allocate funds within the U.S. fixed income markets, credit has seemingly been viewed as being perhaps too “rich,” or expensive, in relative terms.
2025 Fixed Income Outlook
Senior Investment Strategist Tracey Manzi notes that the Federal Reserve's ongoing easing cycle should benefit short to intermediate maturities.
2025 Market Outlook: Rational Exuberance?
Investors, many of whom were worried about stock valuations before the election, have much to consider heading into 2025. There seems reason for some exuberance—but a rational exuberance, based upon a plausible foundation of corporate and economic health.
12 Attractive Utility Stocks for Income and Growth
Today’s video on the Utility Sector is another in the continuing series of videos where we are looking for value in each of the 11 major sectors as reported by Standard & Poor’s. This particular video is going to be on Utility Stocks.
Q4 2024 Commentary: Defying Expectations, Embracing Optimization
Markets vigorously adjusted expectations for a new regulatory, economic, and geopolitical landscape driven by U.S. politics.
Individual Bonds Benefit From Yield Curve Shift
It is sometimes perceived that the Fed’s action changes all interest rates across the yield curve, but that needs to be put in perspective.
Invesco KBW Bank ETF (KBWB)
On this episode of the “ETF of the Week” podcast, VettaFi’s head of research, Todd Rosenbluth, discussed the Invesco KBW Bank ETF (KBWB) 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.
Muni Bonds: Active Management Stepping Into Spotlight
The pairing of active management and fixed income could be as important as any time in recent memory.
Periodic Table of Commodity Returns Revels Winners and Losers for 2024
At the start of every year, we publish our popular Periodic Table of Commodity Returns, an interactive infographic of the gains and losses across the commodities market.
BofA’s Hartnett Says Trump Trade to Shield US Stocks From Plunge
Donald Trump’s return to the White House will likely protect US stocks from a big selloff, according to Bank of America Corp. strategists, as investors focus on his protectionist agenda and proposals for lower corporate taxes.
Schwab Market Perspective: Markets vs. Economy
Strong U.S. economic data has spurred a strong rise in Treasury yields but a tepid response in the stock market. Uncertainty likely will continue in coming months.
2025 Credit Outlook: On Firm Ground, Despite Shifting Political Sands
New policies could disrupt markets, but high starting yields and strong demand for income should provide ballast.
Life Without ZIRP Spells RIR: Rising Interest Rates
In response to the 2008 stock market and real estate crash, the Federal Reserve stimulated the economy by reducing interest rates to (almost) zero under its zero interest-rate policy (ZIRP). It “printed money” that amazingly did not bring serious inflation, yet.
Investment Considerations for the Second Trump Presidency
With all eyes focused on the White House, investors must decide what the incoming President’s policies will mean for markets and how to position accordingly. Ahead of the inauguration, we asked our portfolio managers what they think should be front of mind.
Will Higher Rates Doom Stocks? Not Necessarily
While stocks can move higher, the bond market will continue to matter. Higher rates suggest that equity leadership may continue to reside in companies that are relatively rate insensitive.
Active Fixed Income in 2025: Another Golden Year Ahead
Friday’s rip-roaring jobs report has pushed the betting markets to price in a single rate cut for the entire year of 2025.
NAHB Housing Market Index: Builder Confidence Inches to 9-Month High in January
Builder confidence inched up in January to its highest level in 9 months on hopes for economic growth and an improved regulatory environment. The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose to 47 this month, up one point from December. The latest reading came was above the forecast of 45.
The Inflation Genie Is Moving to the White House
The latest updates on the labor market and consumer prices show President-elect Donald Trump inherits an economy where inflation is poised to return to the Federal Reserve’s target later this year.
Uncertainty Is Certain
Amid an unsettled global economic outlook and elevated equity valuations, bond markets present attractive yields and important diversification benefits.
Bonds – The Dual Benefit
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
Transforming 2024 Insights Into 2025 Action
Use this guide to transform our 2024 Retirement Insights into action in 2025, focusing on areas of plan design, tax credits and participant engagement. Our Mike Dullaghan shares the highlights.
Strategic Income Outlook: Magic 8-Ball Says, “Cannot Predict Now”
Although we are loath to make predictions, conditions appear to be favorable for fixed income in the coming year, and we think investors should consider adjusting their allocations accordingly.
Treasuries Surge as Easing Inflation Boosts Fed Rate-Cut Bets
US government bonds surged as benign inflation data prompted traders to resume their bets on additional Federal Reserve interest rate cuts by July.
Tax Planning in 2025: Five Key Topics to Discuss With Your Clients Now
The calendar page has turned, and that means we have the opportunity to get 2025 off to a good start.
How Parametric Strives to Stay Ahead in Direct Indexing
Direct indexing has been around for more than 30 years, yet many people still don’t know what it is or how it continues to grow and evolve.
2025 Outlook: Run It Back
The global economic landscape continues to evolve, and 2025 promises to be a year of adaptation and resilience.
Amid Rate Uncertainty, Shorten Duration With This Active ETF
Uncertainty with regard to interest rate policy warrants an active management strategy inherent in the Vanguard Short Duration Bond ETF.
Expect Innovation Led American Exceptionalism to Continue
Nothing is more fundamental to the current health of the economy than jobs creation and income growth.
The Case for Active Fixed Income in 2025
Active fixed income could stand out in 2025, with active offering a way to refresh bond portfolios and allocations.
2025 Political Outlook
Managing Director, Washington Policy Analyst Ed Mills looks at how several of the top market-relevant Washington DC issues could play out in 2025.
Fidelity Blue Chip Growth ETF (FBCG)
On this episode of “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth joined Chuck Jaffe of Money Life to talk about the Fidelity Blue Chip Growth ETF (FBCG).
Chasing Alpha: Top Active Equity Strategies for 2025
Markets are coming off back-to-back gains of more than 20% each on an annual basis. The chances of a hat trick in 2025 are slim to none.
Examining the Case for Active Bond Investing
I’m not ready to concede that active bests the benchmarks by adding what I consider alpha. For example, “positioning the fund to have more credit risk than its benchmark” is a risk premium much in the same way that the equity risk premium produced returns over the risk-free rate. The credit risk premium may be worth it, but that’s beta, not alpha.
“Curb Your Enthusiasm” In 2025
As we enter 2025, the financial markets are optimistic. That optimism is fueled by strong market performance over the last two years and analyst’s projections for continued growth. However, as “Curb Your Enthusiasm” often demonstrates, even the best-laid plans can unravel when overlooked details come to light. Here are five reasons why a more cautious approach to investing might be warranted in 2025.
On Bubble Watch
Many people these days are on heightened alert for bubbles, and I’m often asked whether there’s a bubble surrounding the Standard & Poor’s 500 and the handful of stocks that have been leading it.
Outlook 2025: Planning for Growth and Embracing Change
After another resilient year for the US economy, we look ahead to the new year.
Five Alive: Where Is the Treasury 10-Year Yield Headed?
As we enter 2025, there has been a lot of conjecture about a return to the 5% threshold.
2025 Economic Outlook
Chief Economist Eugenio Alemán and Economist Giampiero Fuentes break down the factors likely to impact economic growth, inflation and interest rates.
Q4 Recap: US Growth Closes the Year on Top
U.S. equities closed 2024 on top and U.S. growth took back leadership from U.S. value.
With New Risks Surfacing, How Should Investors Position Portfolios in 2025?
US equities were up notably in 2024, due to a strong economy, accelerating earnings growth, US election results, and AI/mega-cap strength.
A Necessary Tool for Income Investors… Especially Now
Since dividend investing can be boiled down to a single strategy—generating income—you might assume we don’t need a toolbox full of tools. We know that’s not true.
Treasury Bonds: Riding the Range
Yields may trade in a wide range as markets work through issues in the new year. Navigating volatility may mean capturing higher nominal and real yields over the longer term.
Notes From the Desk: The Starting Line for the US Yield Curve
Two key components drive the shape of the yield curve: expectations for the short-term interest rate and expectations for the term premium.