Income

With Congress out for the next two weeks for Easter recess and a short trading week in New York, it should be a quieter week – though tariff-related news continues to capture headlines.

Covered call strategies have been around for a very long time, but covered call ETFs have recently enjoyed a massive increase in popularity.

One of the most volatile market weeks in years was sparked by tariff announcements earlier this month. President Donald Trump's 10% universal tariff went into effect on April 5th, followed by his controversial reciprocal tariffs on April 9th.

The month of April will unfortunately go down in financial market folklore as being one of the more noteworthy on record.

In this article, we examine everything from the yield curve to CAPE ratios to gain a sense of where we are, and where we might be headed next.

CIO Sean Taylor assesses a better-than-expected quarter for emerging markets and takes stock of the drivers that may support the asset class in what could be difficult months ahead for global markets.

As homeowner insurance rates rise, advisors share ways individuals can create a financial safety net should catastrophe impact their homes.

Navigating market volatility can be challenging for investors. Our Bill Cass shares several tax planning strategies to consider.

Last week, the S&P 500 was up 5.7%, the strongest week for the market since November 2023.

While the US experiments with reordering the world’s trading system, uncertainty rises and volatility ensues. We are reminded of the delicate balance between safeguarding domestic interests and promoting a cooperative global trading system.

The announcement that LPL Financial will acquire Commonwealth Financial Network marks another major shift in the wealth management landscape—and presents a pivotal career moment for Commonwealth’s nearly 2,900 financial advisors.

Nick Goetze discusses fixed income market conditions and offers insight for bond investors.

As we write this, stocks have bounced back as Trump retreated from electronic tariffs from China. Nevertheless, this was a remarkable week for markets with Trump’s tariff policy taking center stage for market stress across stocks, bonds and currencies.

2025 has marked a striking reversal, with European stocks delivering exceptional returns that have handily surpassed US market performance.

The current market unrest over the potential for tariff increases and their impact is unpredictable. The volatility can be unnerving.

SPY's recent surge of inflows showcases how advisors are using ETFs as crucial vehicles for navigating market volatility.

The reciprocal reprieve does not alter the tectonic shift in the trade outlook.

Markets have had a wild ride these past couple of weeks, alongside chaotic tariff-related news, with volatility (and its policy triggers) most elevated in the bond market.

Some of the reasons, but not the only ones, why our trade deficits are so large is because government expenditures are too high and/or we are not collecting enough taxes.

The American consumer is tapped out. The savings buffer is gone, wage growth is declining, and credit costs are rising. Corporate America is already adjusting to this new reality, with companies issuing cautious guidance for 2025.

On Monday, April 7, the S&P 500 dropped as much as 4.7% at the session low before whiplashing higher on reports of a potential tariff delay—closing the day up 3.4% from Friday’s close.

We think it’s important for the Fed to move gradually. The US dollar has weakened lately, and, as a result, there is little case for a drastic loosening of monetary policy. The Fed could let up somewhat on bank regulations and capital requirements, which would help the struggling bond market.

Significant government policy shifts, particularly in tariffs and regulatory restructuring, have created uncertainty and volatility. We continue monitoring potential risks like inflation and recession while remaining focused on identifying profitable investment opportunities amidst these changes.

Swap spreads measure the difference between the interest rate on a swap and the yield on a Treasury bond with the same maturity.

You probably noticed we are having one of those “weeks when decades happen.” Notice also, however, that we are still here. Your investments and businesses may be bruised but you’re still in the game.

Yield spreads are critical to understanding market sentiment and predicting potential stock market downturns. While yield spreads have widened, they remain well below the long-term averages. However, if recession risks increase due to tariffs, sentiment, or illiquidity, those yield spreads will widen further.

Last week’s data can be summarized by a volatile market reacting to tariff news and a backwards-looking inflation reprieve.

After sparking the steepest plunge in financial markets since the global pandemic five years ago, President Donald Trump’s administration made another dramatic pivot in its trade war strategy on April 9: It paused for 90 days the “reciprocal” tariffs that had been in effect for less than 24 hours.

After starting the year on a high note with the S&P 500 index of U.S. Large Cap stocks posting an all-time high on February 19th, equities retreated during the second half of the quarter, officially falling into correction territory (down 10 percent) on March 13.

Another period of heightened volatility in the markets reminds us why tax management can be such an essential part of fixed income investing.

It was a wild week on Wall Street after President Donald Trump announced a broad new tariff policy that went beyond what most analysts had anticipated, spurring a plunge in both stock and bond markets.

On 9 April, President Donald Trump announced a 90-day pause on the higher “add-on” reciprocal tariffs on 50-plus countries that had been announced the previous week, precipitating a historic equity market rally and showing that there was seemingly a limit to how far he would go to move forward with his trade agenda.

Spending cuts, tariffs and recession risk—Jan van Eck’s latest outlook breaks down what to watch and why he’s focused on gold, bitcoin, semiconductors and India.

Vanguard head of U.S. ETF Capital Markets Bill Coleman discussed the growing role that active ETFs are playing in portfolios.

Bonds have gained as investors sought shelter amid growing fears around a tariff-driven global economic slowdown.

Earnings season begins with companies adjusting on the fly to tariffs. This could give investors insight into strategies firms are taking and how businesses might be affected.

Taxpayers plan to use their tax refunds for essentials and debt repayment, as well as savings strategies. Bill Cass shares ideas and strategies to consider this year.

On 2 April, the Trump administration announced sweeping tariffs that were more aggressive than many had expected. Then on 9 April, the administration announced a 90-day pause on most of the new country-specific “reciprocal tariffs.”

Markets responded swiftly to President Trump’s recent announcement of sweeping reciprocal tariffs, with the S&P 500 falling more than 3% in a single day.

Concerns about a trade war have rattled markets so far in 2025, but we believe fixed income investors need to be patient, stay defensive, and see how things evolve before making any big decisions.

Q1 earnings season is about to kick off amidst what some might consider to be the most uncertain environment for US corporations since the COVID-19 pandemic.

Given the abundance of market uncertainty, it may be best to adhere to Treasuries, or for additional yield, to municipal bonds.