Volatility often evokes emotional responses from investors. Two big sell-offs in early 2025 reminded us why it’s important to fight those responses and stay invested through downturns.
Current volatility and optimism are some of the topics being discussed in this new roundtable from Royce Investment Partners.
The second quarter featured a trade war, armed conflicts in the Middle East and Europe, and continued turmoil in Washington, yet markets continued to rally, likely due to an elevated money supply and an increase in passive investing.
Nominal retail sales in June were up 0.64% month-over-month and up 3.92% year-over-year. However, after adjusting for inflation, real retail sales were up 0.35% month-over-month and up 1.22% year-over-year.
Builder confidence received a slight boost in July with the passage of the One Big Beautiful Bill Act but remained near its lowest level in over 2.5 years.
The latest Philadelphia Fed manufacturing index showed activity expanded for the first time in four months. The index was rose nearly 20 points to 15.9 in July, the highest level since February. The latest reading was better than the forecast of -1.2.
The S&P 500 Index finished within striking distance of all-time highs after whipsawing on whether President Donald Trump will fire Federal Reserve Chair Jerome Powell.
U.S. trade policy movements are starting to resemble a soap opera. Following a series of threats, escalations and suspensions, President Trump has extended the tariff deadline to August 1.
Three themes are worth emphasizing as we reach the midpoint of 2025: tariffs, interest rates, and global diversification. We emphasize these themes even amid recent heightened geopolitical tensions.
Global equity markets swung from steep losses to fresh highs during the quarter. In early April, President Trump imposed a baseline 10% tariff and reciprocal tariffs of up to 50% on dozens of trading partners, only to suspend most reciprocal tariffs for 90 days amid market panic.
Investors may be happy to shift some of their focus away from the ongoing tariff saga and back toward economic data and earnings reports.
The U.S. economy remains resilient despite headline volatility tied to shifting trade and tariff policies. Meanwhile, we continue to see a lot of volatility in the economic data as the world adjusts to these changing policies.
Low volatility exchange traded funds are a compelling solution for those looking to dampen risk while staying invested.
For many years, the pension plan has often been a drag on a corporation’s financial positions. Now that’s generally no longer the case, and it’s time to consider what’s next.
Everything that our team publishes has been through peer review. We candidly call out every opportunity we see to improve each other’s writing, from quibbling over word choices to challenging an essay’s entire premise.
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.
A couple of years ago, I wrote about absolute versus relative returns. Given the latest market run, I am getting a lot of questions about chasing returns, and individuals comparing themselves to the S&P 500 index.
Emerging market (EM) countries are often generalized as all the same and driven by commodity prices. The reality can be very different. Here's what you should know about EM stocks now.
As 2025 progresses, investors and policymakers are navigating a highly complex economic landscape shaped by three powerful and interrelated forces: evolving trade policy, a cautious U.S. Federal Reserve (Fed), and growing concerns over U.S. fiscal discipline.
JPMorgan Chase & Co.’s investment bankers eked out a surprise gain in the second quarter, signaling what may be the start of a dealmaking rebound after widespread hesitation tied to US tariff policies.
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.
We continue to believe we are seeing a rare opportunity in EM local debt, and our conviction has been strengthened by the Trump administration’s trade and economic policies, which suggest continued dollar weakness and relative strength for EM local currencies.
It is easy to invest when markets are rallying, but it can be tough for investors to stay in their seats when markets inevitably decline again.
As the second quarter earnings season kicks into gear, Wall Street analysts are forecasting modest earnings growth of 4.8% for companies in the S&P 500.
Every year around this time, we update our Periodic Table of Commodities Returns to reflect the performance of raw materials in the first six months. I’m biased, but few tools do a better job of providing a clear, interactive picture of the commodities landscape than ours.
We suspect that for many of our clients, converting to a Roth will make sense, either today or in the near future. We hope this note and our calculator will encourage many of you to give the conversion decision another look.
Our advice to Fed Chairman Powell is to consider both sides of the argument and act to lower inflation over the longer term.
US mega caps are attractive as they’re likely to be boosted by the fiscal spending bill as well as a robust earnings outlook, according to Morgan Stanley strategists.
Bond investors worried about rising fiscal deficits are turning to an unusual haven: emerging markets.
The money behind Elon Musk’s trillion-dollar empire is increasingly flowing in one direction: toward artificial intelligence.
Apple Inc. is facing pressure to shake up its corporate playbook to invigorate its struggling artificial intelligence efforts.
Next week, the Q2-2025 earnings season will begin in earnest as a barrage of S&P 500 companies report, starting with the Wall Street money center banks on Tuesday and Wednesday. Since earnings drive the market by supporting investor expectations, what should investors expect? Let’s dig into the details.
Fixed income benchmarks have two fundamental flaws. First, their exposures prioritize the needs of borrowers rather than investors. Second, they tend to expose investors to the biggest risks at the worst times.
The resilient job market has supported stock gains, but Washington policy has been a primary market driver so far this year.
As investors try to determine the policy direction of the Trump administration, there is good reason to believe there will be a lot of back and forth.
There’s a connection between our willingness to let the debt problem fester and investors throwing their money into a wildly overvalued stock market. In both cases, we’ve grown way too comfortable with uncertainty.
The second quarter’s rapid recovery from April’s market volatility reminds us how powerful a systematic rules-based approach to tax management can be.
ClearBridge Investments believes tariffs remain the key risk to corporate profits in the second half of the year and is less concerned about geopolitical events or the outlook for fiscal and monetary policy.
A multibillion-dollar capital markets experiment is unfolding on Wall Street, as entrepreneurs use blank-check companies and reverse mergers to take their holdings of digital assets public.
A full three months since President Trump’s “Liberation Day” tariff announcements sparked panic in financial markets, macro developments have been benign. The passage of the Big Beautiful Bill has brought clarity on the fiscal outlook, but uncertainty on trade negotiations remains. Franklin Templeton Fixed Income CIO Sonal Desai explains what this means for investors going forward.
Advisor Perspectives had a strong mix of pieces in the top 10 articles for views on its leaderboard for the month of June.
Bitcoin options traders are already setting their sights on higher prices as the original cryptocurrency extends its record-breaking rally for a second day.
I have been a pension nerd since I was 20 years old. So I have been hearing for literally decades that there is a simple, magical solution to all our retirement funding problems: Just take more risk! When the investments pay off, the coffers will be replenished and all will be well.
Young Americans are having trouble becoming fully independent adults. Millennials, who were long ridiculed for being boomerang kids who scurried back to mom and dad’s basement after leaving the security blanket of college, know a thing or two about that.
Three ETF strategies that launched in June stand out, bringing something interesting to the table for investors.
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.
One of the more storied headlines this year has been President Trump’s disappointment with the Fed for not cutting rates. We should all know by now that the President cannot fire a Fed Chair simply because he/she is not lowering interest rates to their liking.
Considering the spate of sizable inflows into spot bitcoin ETFs and the recent ebullience surrounding equities, some investors are vexed by recent lethargy displayed by the largest cryptocurrency.
As we reach the midpoint of 2025, we reflect on the notably volatile trajectory of bond yields so far this year, considering the potential opportunity for tax-aware fixed income investors to harvest losses.
After mid-level performance in Q1, financials sector earnings are seen slowing in Q2, according to analysts, though favorable signs like the yield curve could help margins.
We are in a period of market greed right now, even if you haven’t noticed it.
Franklin Mutual Series shares its mid-year outlook, focusing on corporate fundamentals as a catalyst to unlock value in the midst of ongoing market volatility.
As we head into the second half of the year, expect record stock buyback activity for companies in the S&P 500.
Global central bankers have ducked a chance to push for tight borrowing constraints on the biggest hedge funds, whose importance to core government bond and other financial markets has grown enormously in the past decade.
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.
Rare earth magnet producer MP Materials Corp. secured a $400 million equity investment from the US Department of Defense to build a new plant, with a $1 billion financing commitment from JPMorgan Chase & Co. and Goldman Sachs Group Inc. The shares soared.
US equities swung between small gains and losses at the open Thursday as investors parsed through a slew of tariff headlines and looked ahead to corporate results that are due to start in the earnest next week.
Private equity firms are bringing their portfolio companies back to the US IPO market, testing investor demand for firms that have more debt than other recent listings.
The Treasury market rallied after an auction of 10-year notes drew strong demand, easing concerns that investors will balk at financing swelling US deficits.
Liberation Day seems like a lifetime ago. But the 90-day pause is almost over, and—thus far—there are few deals that have been consummated.
We expect tariff policy to remain a key part of the narrative pushed by the administration.
In this month’s issue, Franklin Templeton Emerging Markets Equity explains how markets in many regions are weathering US policy uncertainty and offers an upbeat assessment of Vietnam after a recent research visit.
In the weeks leading up to last month’s Israeli and U.S. strikes on Iran, oil prices climbed – not due to actual supply disruptions, but in response to a geopolitical risk premium.
A new era of regulation is bound to bring high hopes for the crypto bulls. House Republicans are now gearing up for “Crypto Week” – during which the committee has agreed to prioritize digital asset legislation and review several crypto-related bills.
Our strategy work and quantitative insights suggest the conditions behind more than a decade of U.S. equity outperformance are starting to shift.
Our long-time investors are probably wondering why we haven’t made any gains over the last 18 months.
Looking at the first half of 2025 reveals a nuanced landscape for private equity (PE) and principal investors.
The artificial intelligence investment landscape reached a critical inflection point in Q2 2025, with the ROBO Global Artificial Intelligence Index (THNQ) delivering exceptional returns of 24.4%.
Advisors who rely solely on instinct or inertia will get left behind, because having a real business plan is a powerful differentiator. But any plan is only as strong as its execution.
ClearBridge Investments believes positive forces from One Big Beautiful Bill Act passage and future interest rate cuts should soon outweigh negative forces of tariff actions.
If you're thinking about adding subscription services to your financial planning practice, you're not alone. More advisors are moving beyond the traditional AUM model to offer monthly subscription plans, and for good reason.
Most of us grew up in an era in which you simply had to figure things out on your own, but that’s no longer how it works in business today. The stakes are higher, the competition is fierce.
Reckoner Capital Management is testing investors’ hunger for a new category of risky bets with an exchange-traded fund that uses leverage to juice returns on collateralized loan obligations.
Wall Street’s latest tax dodge doesn’t hide in the Cayman Islands or rely on complex derivatives.
Futures traders have been unwinding some large bullish bets on Treasury bonds, adding to the recent upward pressure on US yields after a surprisingly strong jobs report last week.
Wall Street’s latest tax dodge doesn’t hide in the Cayman Islands or rely on complex derivatives. It’s engineered to turn a publicly traded fund into a tax-minimizing machine that hums quietly on autopilot.
Opinions of the One Big Beautiful Bill tend toward the extreme. One of its main authors calls it “the greatest piece of Republican legislation in a generation,” while one of its most authoritative critics says it makes him ashamed to be an American.
Nearly six months into Donald Trump’s presidency, a Trump Doctrine is coming into view.
Markets rebounded sharply in 2Q 2025 following April’s tariff-driven selloff. Our mid-year market outlook breaks down the recovery, Fed policy, and where to invest next.
Elevated interest rates and market uncertainty make for an interesting tandem regarding getting core bond exposure. When considering yield, reinforcing a portfolio to absorb market shocks, or both, consider this active option from Vanguard: the Vanguard Core-Plus Bond ETF (VPLS).
Tariff volatility rocked markets for much of the second quarter, creating pressure on U.S. bonds and equities. In the challenging environment, rife with uncertainty and investor concern, a handful of funds generated significant performance.
How the Matthews Emerging Markets Equity Fund’s strategy helped it achieve outperformance during a historic period for global markets.
The headline employment figure came in stronger than expected and better than feared following the weak ADP report, but the details were far from a blockbuster.
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.
Apple Inc.’s top executive in charge of artificial intelligence models is leaving for Meta Platforms Inc., another setback in the iPhone maker’s struggling AI efforts.
So many businesses are stuck in this endless cycle of chasing leads, hoping that persistence will eventually pay off. Here’s the truth: chasing leads is not only ineffective, it’s damaging your business.
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.
We upgrade equities to neutral from underweight as falling interest rates and improving economic conditions in emerging markets offset uncertainty over US tariff policies.
They have been called “the four most costly words in the annals of investing,” and surely that’s true: This time is different. Still — hear me out! — there are reasons to entertain the possibility that, well, this time really is different.
Outlooks
Resisting Temptation in Volatile 2025 Markets
Volatility often evokes emotional responses from investors. Two big sell-offs in early 2025 reminded us why it’s important to fight those responses and stay invested through downturns.
US Small-Cap Forecast—More Volatility and Cautious Optimism
Current volatility and optimism are some of the topics being discussed in this new roundtable from Royce Investment Partners.
Third Quarter Strategic Income Outlook
The second quarter featured a trade war, armed conflicts in the Middle East and Europe, and continued turmoil in Washington, yet markets continued to rally, likely due to an elevated money supply and an increase in passive investing.
The Big Four Recession Indicators: Real Retail Sales Rise 0.4% in June
Nominal retail sales in June were up 0.64% month-over-month and up 3.92% year-over-year. However, after adjusting for inflation, real retail sales were up 0.35% month-over-month and up 1.22% year-over-year.
NAHB Housing Market Index: Builder Confidence Receives Slight Boost
Builder confidence received a slight boost in July with the passage of the One Big Beautiful Bill Act but remained near its lowest level in over 2.5 years.
Philadelphia Fed Manufacturing Index: Highest Level Since February
The latest Philadelphia Fed manufacturing index showed activity expanded for the first time in four months. The index was rose nearly 20 points to 15.9 in July, the highest level since February. The latest reading was better than the forecast of -1.2.
US Stocks Rebound After Trump Says No Plans to Fire Powell
The S&P 500 Index finished within striking distance of all-time highs after whipsawing on whether President Donald Trump will fire Federal Reserve Chair Jerome Powell.
Trade War: New Countdown Begins
U.S. trade policy movements are starting to resemble a soap opera. Following a series of threats, escalations and suspensions, President Trump has extended the tariff deadline to August 1.
Stretched Dollar, Equities Boost Diversification Case
Three themes are worth emphasizing as we reach the midpoint of 2025: tariffs, interest rates, and global diversification. We emphasize these themes even amid recent heightened geopolitical tensions.
Q2 2025 Commentary and Market Outlook International and Global Growth Equities
Global equity markets swung from steep losses to fresh highs during the quarter. In early April, President Trump imposed a baseline 10% tariff and reciprocal tariffs of up to 50% on dozens of trading partners, only to suspend most reciprocal tariffs for 90 days amid market panic.
Inflation Week on Wall Street Comes as Tariff Risk Re-Emerges
Investors may be happy to shift some of their focus away from the ongoing tariff saga and back toward economic data and earnings reports.
Despite Economic Uncertainties and Wild Market Swings, U.S. Economic Fundamentals Refuse to Buckle
The U.S. economy remains resilient despite headline volatility tied to shifting trade and tariff policies. Meanwhile, we continue to see a lot of volatility in the economic data as the world adjusts to these changing policies.
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.
Midyear Liability-Driven Investing Outlook: What’s Next for Corporate Pensions?
For many years, the pension plan has often been a drag on a corporation’s financial positions. Now that’s generally no longer the case, and it’s time to consider what’s next.
AI Is Powering Productivity
Everything that our team publishes has been through peer review. We candidly call out every opportunity we see to improve each other’s writing, from quibbling over word choices to challenging an essay’s entire premise.
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.
Relative Returns Or Absolute. What’s More Important?
A couple of years ago, I wrote about absolute versus relative returns. Given the latest market run, I am getting a lot of questions about chasing returns, and individuals comparing themselves to the S&P 500 index.
Benefits of Emerging Markets Diversification
Emerging market (EM) countries are often generalized as all the same and driven by commodity prices. The reality can be very different. Here's what you should know about EM stocks now.
Economic Crosscurrents in 2025: Inflation, Interest Rates, and Investment Strategy
As 2025 progresses, investors and policymakers are navigating a highly complex economic landscape shaped by three powerful and interrelated forces: evolving trade policy, a cautious U.S. Federal Reserve (Fed), and growing concerns over U.S. fiscal discipline.
JPMorgan’s Surprise Dealmaking Gain Shows Tariff Fear Easing
JPMorgan Chase & Co.’s investment bankers eked out a surprise gain in the second quarter, signaling what may be the start of a dealmaking rebound after widespread hesitation tied to US tariff policies.
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.
Still A Once-in-a-Generation Opportunity
We continue to believe we are seeing a rare opportunity in EM local debt, and our conviction has been strengthened by the Trump administration’s trade and economic policies, which suggest continued dollar weakness and relative strength for EM local currencies.
2025 Mid-Year Outlook: Stay Invested
It is easy to invest when markets are rallying, but it can be tough for investors to stay in their seats when markets inevitably decline again.
Q2 2025 Earnings Preview: Modest Growth Expected Amidst Economic Crosswinds
As the second quarter earnings season kicks into gear, Wall Street analysts are forecasting modest earnings growth of 4.8% for companies in the S&P 500.
Precious Metals Crushed Their Commodities Peers in the First Half of 2025
Every year around this time, we update our Periodic Table of Commodities Returns to reflect the performance of raw materials in the first six months. I’m biased, but few tools do a better job of providing a clear, interactive picture of the commodities landscape than ours.
Size Matters in the Roth IRA Conversion Decision
We suspect that for many of our clients, converting to a Roth will make sense, either today or in the near future. We hope this note and our calculator will encourage many of you to give the conversion decision another look.
Might Lower Rates Be the Cure for Higher Prices?
Our advice to Fed Chairman Powell is to consider both sides of the argument and act to lower inflation over the longer term.
Morgan Stanley Says Tax Cuts and Earnings to Boost US Mega Caps
US mega caps are attractive as they’re likely to be boosted by the fiscal spending bill as well as a robust earnings outlook, according to Morgan Stanley strategists.
Emerging Asia Bonds Are the New Standards for Fiscal Control
Bond investors worried about rising fiscal deficits are turning to an unusual haven: emerging markets.
Elon Musk Turns to Tesla and SpaceX to Fuel His AI Ambitions
The money behind Elon Musk’s trillion-dollar empire is increasingly flowing in one direction: toward artificial intelligence.
Apple Faces Calls to Reboot AI Strategy With Shares Slumping
Apple Inc. is facing pressure to shake up its corporate playbook to invigorate its struggling artificial intelligence efforts.
Q2-2025 Earnings Season Preview
Next week, the Q2-2025 earnings season will begin in earnest as a barrage of S&P 500 companies report, starting with the Wall Street money center banks on Tuesday and Wednesday. Since earnings drive the market by supporting investor expectations, what should investors expect? Let’s dig into the details.
Are You Buying What They Selling? We’re Not—Here’s Why.
Fixed income benchmarks have two fundamental flaws. First, their exposures prioritize the needs of borrowers rather than investors. Second, they tend to expose investors to the biggest risks at the worst times.
On Firmer Ground?
The resilient job market has supported stock gains, but Washington policy has been a primary market driver so far this year.
Market Review Q2 25: Ping-Pong Policy
As investors try to determine the policy direction of the Trump administration, there is good reason to believe there will be a lot of back and forth.
Uncertain Moments
There’s a connection between our willingness to let the debt problem fester and investors throwing their money into a wildly overvalued stock market. In both cases, we’ve grown way too comfortable with uncertainty.
Tax Loss Harvesting Through the Volatile First Half of 2025
The second quarter’s rapid recovery from April’s market volatility reminds us how powerful a systematic rules-based approach to tax management can be.
US Equity Midyear Outlook: Looking Toward 2026 for Upside
ClearBridge Investments believes tariffs remain the key risk to corporate profits in the second half of the year and is less concerned about geopolitical events or the outlook for fiscal and monetary policy.
Crypto Treasury Firms Swarm Wall Street in SPAC, Merger Boom
A multibillion-dollar capital markets experiment is unfolding on Wall Street, as entrepreneurs use blank-check companies and reverse mergers to take their holdings of digital assets public.
Stop Me if You Think You’ve Heard This One Before
A full three months since President Trump’s “Liberation Day” tariff announcements sparked panic in financial markets, macro developments have been benign. The passage of the Big Beautiful Bill has brought clarity on the fiscal outlook, but uncertainty on trade negotiations remains. Franklin Templeton Fixed Income CIO Sonal Desai explains what this means for investors going forward.
Advisor Perspectives’ Top Articles in June Feature Everything From Buffett to Stablecoins
Advisor Perspectives had a strong mix of pieces in the top 10 articles for views on its leaderboard for the month of June.
Bitcoin Options Traders Eye $120,000 as Token Extends Record Run
Bitcoin options traders are already setting their sights on higher prices as the original cryptocurrency extends its record-breaking rally for a second day.
Social Security Needs More Than Risky Wagers
I have been a pension nerd since I was 20 years old. So I have been hearing for literally decades that there is a simple, magical solution to all our retirement funding problems: Just take more risk! When the investments pay off, the coffers will be replenished and all will be well.
Are Parents Ready to Keep the Bank of Mom and Dad Open?
Young Americans are having trouble becoming fully independent adults. Millennials, who were long ridiculed for being boomerang kids who scurried back to mom and dad’s basement after leaving the security blanket of college, know a thing or two about that.
June 2025’s Most Innovative ETF Launches
Three ETF strategies that launched in June stand out, bringing something interesting to the table for investors.
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.
No Rate Cut for You…At Least Not Yet
One of the more storied headlines this year has been President Trump’s disappointment with the Fed for not cutting rates. We should all know by now that the President cannot fire a Fed Chair simply because he/she is not lowering interest rates to their liking.
Bitcoin Unusually Calm, But That Won’t Last Long
Considering the spate of sizable inflows into spot bitcoin ETFs and the recent ebullience surrounding equities, some investors are vexed by recent lethargy displayed by the largest cryptocurrency.
Active Tax Loss Harvesting in Fixed Income: Checking In at Midyear
As we reach the midpoint of 2025, we reflect on the notably volatile trajectory of bond yields so far this year, considering the potential opportunity for tax-aware fixed income investors to harvest losses.
Q2 Bank Earnings Preview: A Dimmer Light?
After mid-level performance in Q1, financials sector earnings are seen slowing in Q2, according to analysts, though favorable signs like the yield curve could help margins.
Stay Cautious as Markets Turn Greedy
We are in a period of market greed right now, even if you haven’t noticed it.
Fundamentals Are a Lighthouse in the Storm
Franklin Mutual Series shares its mid-year outlook, focusing on corporate fundamentals as a catalyst to unlock value in the midst of ongoing market volatility.
Buybacks Reach Record Highs as Q2 Earnings Season Approaches
As we head into the second half of the year, expect record stock buyback activity for companies in the S&P 500.
Central Banks are Flying Blind on Hedge Fund Leverage
Global central bankers have ducked a chance to push for tight borrowing constraints on the biggest hedge funds, whose importance to core government bond and other financial markets has grown enormously in the past decade.
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.
Pentagon Invests in Rare Earth Magnet Producer to Back New Plant
Rare earth magnet producer MP Materials Corp. secured a $400 million equity investment from the US Department of Defense to build a new plant, with a $1 billion financing commitment from JPMorgan Chase & Co. and Goldman Sachs Group Inc. The shares soared.
Stocks Steady as Traders Look Through Chaos to Corporate Results
US equities swung between small gains and losses at the open Thursday as investors parsed through a slew of tariff headlines and looked ahead to corporate results that are due to start in the earnest next week.
Private Equity-Backed US IPOs Return With Plenty of Leverage
Private equity firms are bringing their portfolio companies back to the US IPO market, testing investor demand for firms that have more debt than other recent listings.
US Treasuries Jump as Strong Auction Calms Investor Jitters
The Treasury market rallied after an auction of 10-year notes drew strong demand, easing concerns that investors will balk at financing swelling US deficits.
At the Midway Point: Returning to the Fundamentals
Liberation Day seems like a lifetime ago. But the 90-day pause is almost over, and—thus far—there are few deals that have been consummated.
Midyear Commodity Outlook: Better for Commodities than Consumers
We expect tariff policy to remain a key part of the narrative pushed by the administration.
Emerging Markets Insights: Seeking Clarity on Tariffs
In this month’s issue, Franklin Templeton Emerging Markets Equity explains how markets in many regions are weathering US policy uncertainty and offers an upbeat assessment of Vietnam after a recent research visit.
Charting Commodity Markets
In the weeks leading up to last month’s Israeli and U.S. strikes on Iran, oil prices climbed – not due to actual supply disruptions, but in response to a geopolitical risk premium.
Beyond Bitcoin ETFs: The Blockchain Trade
A new era of regulation is bound to bring high hopes for the crypto bulls. House Republicans are now gearing up for “Crypto Week” – during which the committee has agreed to prioritize digital asset legislation and review several crypto-related bills.
Non-U.S. Investing In a Fragmenting World
Our strategy work and quantitative insights suggest the conditions behind more than a decade of U.S. equity outperformance are starting to shift.
Late 2021 Speculation is Back
Our long-time investors are probably wondering why we haven’t made any gains over the last 18 months.
Private Equity Halftime Report: Key Trends for Advisors
Looking at the first half of 2025 reveals a nuanced landscape for private equity (PE) and principal investors.
AI Posts Strong Q2 Returns as Inference Economy Takes Hold
The artificial intelligence investment landscape reached a critical inflection point in Q2 2025, with the ROBO Global Artificial Intelligence Index (THNQ) delivering exceptional returns of 24.4%.
The Building Blocks of a Scalable Business Plan: How Intention Helps to Drive Growth
Advisors who rely solely on instinct or inertia will get left behind, because having a real business plan is a powerful differentiator. But any plan is only as strong as its execution.
The Long View: Push-pull
ClearBridge Investments believes positive forces from One Big Beautiful Bill Act passage and future interest rate cuts should soon outweigh negative forces of tariff actions.
Breaking Down the Regulatory Requirements for Subscription Services
If you're thinking about adding subscription services to your financial planning practice, you're not alone. More advisors are moving beyond the traditional AUM model to offer monthly subscription plans, and for good reason.
The Key Components for Effective Change
Most of us grew up in an era in which you simply had to figure things out on your own, but that’s no longer how it works in business today. The stakes are higher, the competition is fierce.
First Leveraged CLO ETF Tests Retail Crowd’s Appetite for Risk
Reckoner Capital Management is testing investors’ hunger for a new category of risky bets with an exchange-traded fund that uses leverage to juice returns on collateralized loan obligations.
Wall Street Builds S&P 500 ‘No Dividend’ Fund in New Tax Dodge
Wall Street’s latest tax dodge doesn’t hide in the Cayman Islands or rely on complex derivatives.
Treasury Bulls Unwind Big Bets as Strong Data Pushes Yields Up
Futures traders have been unwinding some large bullish bets on Treasury bonds, adding to the recent upward pressure on US yields after a surprisingly strong jobs report last week.
Wall Street Builds S&P 500 ‘No Dividend’ Fund in New Tax Dodge
Wall Street’s latest tax dodge doesn’t hide in the Cayman Islands or rely on complex derivatives. It’s engineered to turn a publicly traded fund into a tax-minimizing machine that hums quietly on autopilot.
Megabills Didn’t Break the Economy Before and Won’t Now
Opinions of the One Big Beautiful Bill tend toward the extreme. One of its main authors calls it “the greatest piece of Republican legislation in a generation,” while one of its most authoritative critics says it makes him ashamed to be an American.
Trump Is Opening a New Chapter in US Foreign Policy
Nearly six months into Donald Trump’s presidency, a Trump Doctrine is coming into view.
2025 Market Review & Mid-Year Market Outlook: Resilience in the Face of Uncertainty
Markets rebounded sharply in 2Q 2025 following April’s tariff-driven selloff. Our mid-year market outlook breaks down the recovery, Fed policy, and where to invest next.
Defense, Yield, or Both? An Active Bond ETF for Any Market
Elevated interest rates and market uncertainty make for an interesting tandem regarding getting core bond exposure. When considering yield, reinforcing a portfolio to absorb market shocks, or both, consider this active option from Vanguard: the Vanguard Core-Plus Bond ETF (VPLS).
WGMI a Second Quarter Top Performer
Tariff volatility rocked markets for much of the second quarter, creating pressure on U.S. bonds and equities. In the challenging environment, rife with uncertainty and investor concern, a handful of funds generated significant performance.
Outperformance in Extraordinary Times
How the Matthews Emerging Markets Equity Fund’s strategy helped it achieve outperformance during a historic period for global markets.
Jobs Report Better Than Feared
The headline employment figure came in stronger than expected and better than feared following the weak ADP report, but the details were far from a blockbuster.
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.
Apple Loses Top AI Models Executive to Meta’s Hiring Spree
Apple Inc.’s top executive in charge of artificial intelligence models is leaving for Meta Platforms Inc., another setback in the iPhone maker’s struggling AI efforts.
Make Sure You’re Not Chasing Ghosts
So many businesses are stuck in this endless cycle of chasing leads, hoping that persistence will eventually pay off. Here’s the truth: chasing leads is not only ineffective, it’s damaging your business.
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.
Equities Enter Slightly Calmer Waters
We upgrade equities to neutral from underweight as falling interest rates and improving economic conditions in emerging markets offset uncertainty over US tariff policies.
What If This Time Really Is Different for Investors?
They have been called “the four most costly words in the annals of investing,” and surely that’s true: This time is different. Still — hear me out! — there are reasons to entertain the possibility that, well, this time really is different.