Fixed-income investors concerned about tariffs and US exceptionalism may find opportunities in hedged global bonds.
After running a surplus in April thanks to tax day, the federal government was back to business as usual in May, spending massive amounts of money and charting another big budget deficit.
At Parametric, our years of experience have taught us that markets can swing up and down quickly and without warning. Since no one can time these swings, we believe it's imperative to seek both loss harvesting and benchmark tracking simultaneously.
On Monday, Tortoise Capital expanded its fund library with the launch of the Tortoise Energy Fund (TNGY). Formerly a mutual fund, the Tortoise Energy Fund is now an ETF available on the New York Stock Exchange.
A 529 plan is a popular tool for saving for college expenses. When it comes to who maintains control over the 529 plan’s assets, in most cases, it’s the account owner. This is often a parent or grandparent. The owner also has the ability to make investment choices and manage withdrawals.
US stocks rose on Friday as investors returned from the Juneteenth holiday break to evaluate recent comments from a top Federal Reserve official as well as the latest developments in the conflict between Israel and Iran.
Given that the bill’s failure to reduce the deficit is due in part to its extension and expansion of the special tax treatment for non-corporate businesses that Johnson insisted on in 2017, which will cost an estimated $820 billion over the next decade, the senator does not make for the most credible of deficit hawks.
The most powerful institution in global finance is as completely and utterly confused as the rest of us.
US banks seem likely to get the changes they want to an obscure but important rule known as the supplementary leverage ratio.
Travel on all roads and streets increased in April. The 12-month moving average was up 0.12% month-over-month and was up 0.93% year-over-year. However, if we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.06% MoM and down 0.97% YoY.
The latest Philadelphia Fed manufacturing index showed weak activity this month. The index was unchanged at -4.0, marking the third straight negative reading. The latest reading was worse than the forecast of -1.7.
How big data, AI and the human element can combine to better pursue consistent alpha.
CEO Ali Dibadj provides an update on the three macro drivers we believe will shape markets in the second half of 2025 and how Janus Henderson is helping clients position for a brighter investment future.
New strategies, shifting flows, and innovative technologies are driving a more dynamic and diversified marketplace in fixed income ETFs.
After a long dry spell, there are signs of life in the initial public offerings space. An increase in offerings can sometimes suggest an improvement in overall market sentiment.
It's important to consider non-hardship 401(k) withdrawals carefully. Our Bill Cass explains why individuals should check plan eligibility and consider asset protection and tax implications.
Equities have been on quite the roller coaster in 2025. Although the tariff situation has driven much of this volatility, we find ourselves in a similar spot to where we began the year.
Despite consumer fears of 1970s-style inflation, actual CPI has cooled to just 2.4%. Jeff Weniger makes the case that we may be living in a Goldilocks scenario, where price trends align with a stable and balanced economic environment.
When planning for future financial needs, take the time to understand the key differences between a 529 plan vs. IUL insurance. Both are valuable tools, but they serve different purposes and offer unique benefits.
The U.S. economy is growing accustomed to elevated uncertainty.
CoinShares collated data from the first-quarter SEC 13-F filings to reveal bitcoin ETF trends. While institutional investors decreased their holdings for the first time since spot bitcoin ETFs launched, advisors actually increased their exposure quarter-over-quarter.
Home values fell for a third straight month in May, according to the Zillow Home Value Index. However, after adjusting for inflation, real home values declined for a 13th consecutive month, hitting their lowest level in over four years.
When we think of the U.S. government's finances, we often focus on the massive debt. But what about the assets? What does Uncle Sam actually own, and which asset is the largest?
When problems arise with colleagues at a firm, it's best to tread carefully and thoughtfully.
As communications become more dynamic and digital interactions more complex, static captures are increasingly out of step with the needs of modern compliance and the expectations of U.S. regulators.
How do you make sure your prospects feel confident and clear about moving forward?
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.
Blackstone Inc. sees a $200 billion investment opportunity in European credit over the next 10 years, underscoring the region’s appeal to investors looking for alternatives to the US.
Not much seems to faze the stock market these days even as risks abound, from war in the Middle East, to trade tensions, to slowing growth. But Wall Street’s biggest fear arrives today when the Federal Reserve meeting ends and Chair Jerome Powell explains the central bank’s outlook.
Many small deals have done through, including ones from overseas, and an active calendar of corporate shareholder meetings could offer fresh insights into capital plans.
In the latest report by the Census Bureau, building permits dropped to a seasonally adjusted annual rate of 1.393 million in May, the lowest level in nearly five years.
In this article, we’ll explore how crypto index ETFs are structured, how they differ from single-asset products, and how financial professionals can incorporate them into diversified portfolios with clear goals around sizing, suitability, and risk management.
We remain bullish about many of the corporate changes taking place in Japan. Toyota Group recently announced it was taking Toyota Industries private (its auto parts and forklift business) to simplify the group’s structure.
In this article, Russ Koesterich discusses the recent performance of gold and its ongoing role as a store of value in investors’ portfolios.
In this video, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation analyzes Eversource Energy (ES), for Income and Total Return, a New England-based utility known for its consistent earnings and dividend growth.
If there is something the Federal Reserve (Fed) does not want to see today, as it approaches next week’s Federal Open Market Committee (FOMC) meeting, it is a shock to oil prices.
The question isn’t whether robots will transform global labor markets. It’s how quickly the transformation will unfold. This transformation presents both unprecedented challenges and remarkable opportunities.
What happens in global supply chains can provide insight into how tariffs and the trade war may affect economies around the world.
The first half of the year has left investors with many questions about the path ahead for the economy and markets. Unfortunately, there haven’t been many concrete answers. Tariff announcements and trade negotiations have commanded the room.
The Iran-Israel conflict and equity markets are now in sharp focus. As direct strikes escalated in June 2025, global financial markets responded immediately. Israel’s airstrikes on Iranian nuclear and energy infrastructure triggered retaliatory missile and drone attacks from Iran.
Smart beta strategies have endured a prolonged stretch of disappointing results, falling short of investor expectations. This article explores the underlying causes of that performance and outlines why the conditions ahead could be more favorable.
A 529 plan can influence financial aid eligibility and the amount awarded. While these savings plans arevaluable for covering education expenses, they are considered parental assets on the Free Applicationfor Federal Student Aid (FAFSA).
The draft of the One Big Beautiful Bill Act (OBBBA) runs more than 1,000 pages. Analysis of the legislation has focused primarily on its impact on the U.S. federal deficit: the Congressional Budget Office estimates that passage would add almost $3 trillion to the national debt over the coming decade.
Gas prices rose for the first time in four weeks. As of June 16th, the price of regular and premium gas were each up 3 cents from the previous week.
In 2025, the United States has shifted from an open-trade economy to one burdened by some of the highest tariff rates in modern history.
Treasury yields declined Tuesday as US economic data left intact expectations that the Federal Reserve will cut interest rates at least once more in 2025.
A record share of the world’s central banks plans to accumulate more gold over the next 12 months, drawn by bullion’s performance during times of crisis and protection against inflation.
Describes how what is happening to the economy is bigger than tariffs, it is the business cycle. It includes a comment on the FOMC meeting tomorrow, uses economic data up through this morning (retail sales), and includes a nice cartoon which can be used as a thumbnail (below).
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.
Let’s talk about life expectancy. More specifically – should it play a role in retirement planning?You might be surprised to learn that the answer is: Absolutely not.
The ETF market has hit a symbolic turning point: active funds now outnumber passive ones for the first time, marking a sharp break from the industry’s index-tracking origins — even if actively managed assets still account for just a tenth of assets.
Builder confidence fell for a second straight month in June as elevated rates, tariffs, and economic uncertainty dragged builder sentiment to its lowest level in 2.5 years.
The fund shines through as a prime option worthy of consideration among the vast alternatives present in the muni market. With their rare combination of credit quality and yield, munis are offering fixed income investors prime benefits in a still-uncertain bond environment.
Bonds hit a headwind in May as rates rose, but year to date, they have helped offset some of the volatility seen in stocks. See Table 2 for bond index returns for May 2025, Q1 2025, and YTD.
The Census Bureau's Advance Retail Sales Report for May showed consumer spending pulled back significantly last month, with headline sales sinking 0.9%.
A growing body of evidence suggests the differences between private and public equity may be more a matter of perception than reality.
The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of June 6th, the index was at 8.404, down 1.218 from the previous week, with 3 of the 6 components in expansion territory.
The calm before the storm is here – and the Fed knows it won’t last. This week’s Fed meeting is expected to be relatively straightforward.
In this video, 5 Stocks That Subscribers Asked To See, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation addresses subscriber requests by providing a high-level review of five companies, AES Corp (AES), Amgen (AMGN), Air Products (APD), ASML Holding (ASML) and Broadcom (AVGO).
President Donald Trump’s announcement on Wednesday of a new trade agreement with China is the kind of headline that gives markets a sense of relief. As I overheard this week at Wealth Management’s EDGE conference, which I attended in Boca Raton, Florida, we may have dodged a recession.
This week’s market resilience in the face of rising geopolitical tensions underscores an important structural shift. The Israeli strikes and broader Middle East dynamics, while concerning, sparked only a modest reaction—a far cry from the volatility such events triggered in past decades.
Eight of the nine indexes on our world watch list have posted gains through June 16, 2025. Hong Kong's Hang Seng is in the top spot with a year to date gain of 22.61%. Germany's DAXK is in second with a year to date gain of 15.42% while England's FTSE 100 is in third with a year to date gain of 7.45%.
How do we give clients what they’re truly looking for — income certainty, simplicity, peace of mind —without triggering resistance that shuts the conversation down?
The ever-louder brouhaha surrounding BBD is much ado about nothing. It is expensive, dangerous, and likely to benefit only bankers and brokerage firms.
Manufacturing activity contracted for a fourth consecutive month in New York State, according to the Empire State Manufacturing June survey. The diffusion index for General Business Conditions fell 6.8 points to -16.0. The latest reading was worse than the forecast of -5.9.
Investors are betting the months-long rally in emerging markets has further to run even as tariff threats and escalating geopolitical tensions signal a rocky path ahead.
Last week’s economic signals showed cautious optimism and renewed concern. Inflation saw a slight uptick in May.
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.
Blackstone Inc. hired Joseph Cassanelli, a banker who drove major Wall Street deals, as the private equity firm prepares to invest more in banks and insurers.
The Gold Reserve Transparency Act of 2025 (House Bill 3795), calls for a full, modern audit of America's gold holdings—something that hasn't occurred in over 65 years.
Lately, the “deficit narrative” has dominated much of the financial media, particularly those channels that are continual “purveyors of doom.” In this post, we will discuss the “deficit narrative,” the likely outcomes, and why the cure for the deficit may be found in Artificial Intelligence.
Consumer sentiment rebounded in June, improving for the first time in six months. The Michigan Consumer Sentiment Index rose to 60.5 this month, its highest level since February but still historically low.
Rampant uncertainty and ongoing market volatility in 2025 have done little to dampen the ETF industry, with innovative launches ongoing.
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.
Market indexes can be a useful barometer of long-term performance. But the investment opportunity set need not start and end there.
Tariff policy has clouded expectations for the second half of the year, but there are ways to navigate through the fog.
Fears of an impending recession may be fading, but economists are still expecting tepid GDP growth for the year.
Just one day after Prime Minister Shigeru Ishiba likened Japan’s debt situation to that of Greece, the country faced its weakest demand for 20-year bonds since 2012.
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.
US economic data continue to send mixed signals, keeping uncertainty high on interest rate cuts from the Federal Reserve later this year.
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.
Vanguard Group Inc., the investment giant famous for low-cost index funds, is seeking regulatory approval to expand its signature tax-saving fund structure — as anticipation grows that the Securities and Exchange Commission under Paul Atkins will soon embrace the design en masse.
For US traders, developing-country stocks have been a surprising source of returns as Donald Trump’s trade war roiled the S&P 500 Index.
The Senate is continuing to work behind the scenes to develop its version of the "One Big Beautiful" tax and spending bill that passed the House by a singe vote in May.
In this video, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation presents a detailed analysis of Enterprise Products Partners (EPD), a midstream master limited partnership (MLP) known for its high income potential, offering investors a stable and growing dividend yield.
Summer re-runs are popular on TV, but a repeat of last August's "yen-carry" market upheaval isn't likely on the schedule. A shift in positioning by investors is one reason.
Gold plays a distinct role in the global monetary system. Simply put, it’s perceived as money, and its function as a store of value makes it arguably the world’s most popular hedge against inflation.
Smart Beta
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.
Business as Usual: Another Big Budget Deficit in May
After running a surplus in April thanks to tax day, the federal government was back to business as usual in May, spending massive amounts of money and charting another big budget deficit.
Lessons Learned: Potential Pitfalls of Loss Harvesting During High Volatility
At Parametric, our years of experience have taught us that markets can swing up and down quickly and without warning. Since no one can time these swings, we believe it's imperative to seek both loss harvesting and benchmark tracking simultaneously.
Tortoise Capital Lists New Active Energy ETF
On Monday, Tortoise Capital expanded its fund library with the launch of the Tortoise Energy Fund (TNGY). Formerly a mutual fund, the Tortoise Energy Fund is now an ETF available on the New York Stock Exchange.
Who Maintains Control Over a 529 Plan’s Assets?
A 529 plan is a popular tool for saving for college expenses. When it comes to who maintains control over the 529 plan’s assets, in most cases, it’s the account owner. This is often a parent or grandparent. The owner also has the ability to make investment choices and manage withdrawals.
US Stocks Gain as Fed’s Waller Offers Hope on July Rate Cut
US stocks rose on Friday as investors returned from the Juneteenth holiday break to evaluate recent comments from a top Federal Reserve official as well as the latest developments in the conflict between Israel and Iran.
Why Cutting Federal Spending to Pre-Pandemic Levels Is So Hard
Given that the bill’s failure to reduce the deficit is due in part to its extension and expansion of the special tax treatment for non-corporate businesses that Johnson insisted on in 2017, which will cost an estimated $820 billion over the next decade, the senator does not make for the most credible of deficit hawks.
The Fed Is Just as Confused as the Rest of Us
The most powerful institution in global finance is as completely and utterly confused as the rest of us.
Bessent’s Top Bank Reform is Good for Markets
US banks seem likely to get the changes they want to an obscure but important rule known as the supplementary leverage ratio.
America's Driving Habits: April 2025
Travel on all roads and streets increased in April. The 12-month moving average was up 0.12% month-over-month and was up 0.93% year-over-year. However, if we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was up 0.06% MoM and down 0.97% YoY.
Philadelphia Fed Manufacturing Index: Activity Remained Weak in June
The latest Philadelphia Fed manufacturing index showed weak activity this month. The index was unchanged at -4.0, marking the third straight negative reading. The latest reading was worse than the forecast of -1.7.
Alpha Reimagined
How big data, AI and the human element can combine to better pursue consistent alpha.
Macro Drivers: Positioning for 2025’s Geopolitical Realignment
CEO Ali Dibadj provides an update on the three macro drivers we believe will shape markets in the second half of 2025 and how Janus Henderson is helping clients position for a brighter investment future.
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.
IPO Market Starts to Warm After Slow Start to 2025
After a long dry spell, there are signs of life in the initial public offerings space. An increase in offerings can sometimes suggest an improvement in overall market sentiment.
Key Considerations for Evaluating Non-Hardship 401(k) Withdrawals
It's important to consider non-hardship 401(k) withdrawals carefully. Our Bill Cass explains why individuals should check plan eligibility and consider asset protection and tax implications.
2025 Midyear Outlook: Big Expectations and Big Uncertainty for Equities
Equities have been on quite the roller coaster in 2025. Although the tariff situation has driven much of this volatility, we find ourselves in a similar spot to where we began the year.
A Goldilocks Inflation Moment, Tariffs and All
Despite consumer fears of 1970s-style inflation, actual CPI has cooled to just 2.4%. Jeff Weniger makes the case that we may be living in a Goldilocks scenario, where price trends align with a stable and balanced economic environment.
529 Plans vs. Indexed Universal Life (IUL) Insurance
When planning for future financial needs, take the time to understand the key differences between a 529 plan vs. IUL insurance. Both are valuable tools, but they serve different purposes and offer unique benefits.
Dog Days Ahead
The U.S. economy is growing accustomed to elevated uncertainty.
Advisors Increase Their Bitcoin Exposure in Q1 2025
CoinShares collated data from the first-quarter SEC 13-F filings to reveal bitcoin ETF trends. While institutional investors decreased their holdings for the first time since spot bitcoin ETFs launched, advisors actually increased their exposure quarter-over-quarter.
Zillow Home Value Index: "Real" Home Values Hit Lowest Level in Over Four Years
Home values fell for a third straight month in May, according to the Zillow Home Value Index. However, after adjusting for inflation, real home values declined for a 13th consecutive month, hitting their lowest level in over four years.
The Fed's Financial Accounts: What Are Uncle Sam's Largest Assets?
When we think of the U.S. government's finances, we often focus on the massive debt. But what about the assets? What does Uncle Sam actually own, and which asset is the largest?
Getting Colleagues to Step Up Can Be Difficult
When problems arise with colleagues at a firm, it's best to tread carefully and thoughtfully.
Compliance Relics: The Case Against PDFs & Screenshots
As communications become more dynamic and digital interactions more complex, static captures are increasingly out of step with the needs of modern compliance and the expectations of U.S. regulators.
Why Your Prospects Aren’t Calling You Back
How do you make sure your prospects feel confident and clear about moving forward?
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.
Blackstone Sees $200 Billion in Potential European Credit Deals
Blackstone Inc. sees a $200 billion investment opportunity in European credit over the next 10 years, underscoring the region’s appeal to investors looking for alternatives to the US.
Wall Street Fears Hawkish Fed Will Trigger Stock Market Selloff
Not much seems to faze the stock market these days even as risks abound, from war in the Middle East, to trade tensions, to slowing growth. But Wall Street’s biggest fear arrives today when the Federal Reserve meeting ends and Chair Jerome Powell explains the central bank’s outlook.
M&A Watch: A String of Hot IPOs Could Spark Second-Half Dealmaking
Many small deals have done through, including ones from overseas, and an active calendar of corporate shareholder meetings could offer fresh insights into capital plans.
Building Permits Hit Lowest Level in Five Years
In the latest report by the Census Bureau, building permits dropped to a seasonally adjusted annual rate of 1.393 million in May, the lowest level in nearly five years.
Crypto Index ETFs, Explained for Financial Professionals
In this article, we’ll explore how crypto index ETFs are structured, how they differ from single-asset products, and how financial professionals can incorporate them into diversified portfolios with clear goals around sizing, suitability, and risk management.
As Japanese Companies Change, Investment Opportunities Bloom
We remain bullish about many of the corporate changes taking place in Japan. Toyota Group recently announced it was taking Toyota Industries private (its auto parts and forklift business) to simplify the group’s structure.
Hold Onto Your Gold
In this article, Russ Koesterich discusses the recent performance of gold and its ongoing role as a store of value in investors’ portfolios.
Eversource Energy for Income and Total Return
In this video, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation analyzes Eversource Energy (ES), for Income and Total Return, a New England-based utility known for its consistent earnings and dividend growth.
Higher Oil Prices Complicate Monetary Policy
If there is something the Federal Reserve (Fed) does not want to see today, as it approaches next week’s Federal Open Market Committee (FOMC) meeting, it is a shock to oil prices.
Investment Opportunities as AI, Robots Transform Labor
The question isn’t whether robots will transform global labor markets. It’s how quickly the transformation will unfold. This transformation presents both unprecedented challenges and remarkable opportunities.
Supply Chain Messages About the Trade War
What happens in global supply chains can provide insight into how tariffs and the trade war may affect economies around the world.
2025 Midyear Outlook: Where the Economy and Markets Go From Here
The first half of the year has left investors with many questions about the path ahead for the economy and markets. Unfortunately, there haven’t been many concrete answers. Tariff announcements and trade negotiations have commanded the room.
The Iran-Israel Conflict And The Likely Impact On The Market
The Iran-Israel conflict and equity markets are now in sharp focus. As direct strikes escalated in June 2025, global financial markets responded immediately. Israel’s airstrikes on Iranian nuclear and energy infrastructure triggered retaliatory missile and drone attacks from Iran.
How Can “Smart Beta” Go Horribly Right?
Smart beta strategies have endured a prolonged stretch of disappointing results, falling short of investor expectations. This article explores the underlying causes of that performance and outlines why the conditions ahead could be more favorable.
Will a 529 Plan Affect Financial Aid Eligibility or Amount Awarded?
A 529 plan can influence financial aid eligibility and the amount awarded. While these savings plans are
valuable for covering education expenses, they are considered parental assets on the Free Application
for Federal Student Aid (FAFSA).
Treasury Tax Tension
The draft of the One Big Beautiful Bill Act (OBBBA) runs more than 1,000 pages. Analysis of the legislation has focused primarily on its impact on the U.S. federal deficit: the Congressional Budget Office estimates that passage would add almost $3 trillion to the national debt over the coming decade.
Gas Prices Rise for First Time in Four Weeks
Gas prices rose for the first time in four weeks. As of June 16th, the price of regular and premium gas were each up 3 cents from the previous week.
The Taxes You Don’t See When You Pay Them
In 2025, the United States has shifted from an open-trade economy to one burdened by some of the highest tariff rates in modern history.
Treasuries Hold Gains as Fed Rate-Cut Expectations Remain Intact
Treasury yields declined Tuesday as US economic data left intact expectations that the Federal Reserve will cut interest rates at least once more in 2025.
More Central Banks Than Ever Plan to Build Up Their Gold Hoards
A record share of the world’s central banks plans to accumulate more gold over the next 12 months, drawn by bullion’s performance during times of crisis and protection against inflation.
Bigger Than Tariffs
Describes how what is happening to the economy is bigger than tariffs, it is the business cycle. It includes a comment on the FOMC meeting tomorrow, uses economic data up through this morning (retail sales), and includes a nice cartoon which can be used as a thumbnail (below).
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.
Life Expectancy: The (F)Law of Averages
Let’s talk about life expectancy. More specifically – should it play a role in retirement planning?You might be surprised to learn that the answer is: Absolutely not.
Active ETFs Now Outnumber Passive Funds in Industry Watershed Moment
The ETF market has hit a symbolic turning point: active funds now outnumber passive ones for the first time, marking a sharp break from the industry’s index-tracking origins — even if actively managed assets still account for just a tenth of assets.
NAHB Housing Market Index: Builder Confidence Drops to 2.5-Year Low
Builder confidence fell for a second straight month in June as elevated rates, tariffs, and economic uncertainty dragged builder sentiment to its lowest level in 2.5 years.
As Munis See Increased Issuance, Here’s an Active Choice
The fund shines through as a prime option worthy of consideration among the vast alternatives present in the muni market. With their rare combination of credit quality and yield, munis are offering fixed income investors prime benefits in a still-uncertain bond environment.
Stocks Rally in May as Tariff Fears Subside; Long Yields Move Higher
Bonds hit a headwind in May as rates rose, but year to date, they have helped offset some of the volatility seen in stocks. See Table 2 for bond index returns for May 2025, Q1 2025, and YTD.
Retail Sales Sink 0.9% in May, Worse Than Expected
The Census Bureau's Advance Retail Sales Report for May showed consumer spending pulled back significantly last month, with headline sales sinking 0.9%.
Public Equity May Resemble Private Equity More Than Investors Realize
A growing body of evidence suggests the differences between private and public equity may be more a matter of perception than reality.
RecessionAlert Weekly Leading Economic Index
The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of June 6th, the index was at 8.404, down 1.218 from the previous week, with 3 of the 6 components in expansion territory.
Early Signs of Economic Weakness are Starting to Emerge
The calm before the storm is here – and the Fed knows it won’t last. This week’s Fed meeting is expected to be relatively straightforward.
5 Stocks That Subscribers Asked To See: AES Corp, Amgen, Air Products, ASML, Broadcom
In this video, 5 Stocks That Subscribers Asked To See, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation addresses subscriber requests by providing a high-level review of five companies, AES Corp (AES), Amgen (AMGN), Air Products (APD), ASML Holding (ASML) and Broadcom (AVGO).
Trump’s Trade Deal with China Is a Tailwind for Global Shipping
President Donald Trump’s announcement on Wednesday of a new trade agreement with China is the kind of headline that gives markets a sense of relief. As I overheard this week at Wealth Management’s EDGE conference, which I attended in Boca Raton, Florida, we may have dodged a recession.
Muted Market Response to Iran Attacks
This week’s market resilience in the face of rising geopolitical tensions underscores an important structural shift. The Israeli strikes and broader Middle East dynamics, while concerning, sparked only a modest reaction—a far cry from the volatility such events triggered in past decades.
World Markets Watchlist: June 16, 2025
Eight of the nine indexes on our world watch list have posted gains through June 16, 2025. Hong Kong's Hang Seng is in the top spot with a year to date gain of 22.61%. Germany's DAXK is in second with a year to date gain of 15.42% while England's FTSE 100 is in third with a year to date gain of 7.45%.
Giving Retirees More Income Security — Without Triggering Annuity Aversion
How do we give clients what they’re truly looking for — income certainty, simplicity, peace of mind —without triggering resistance that shuts the conversation down?
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.
Empire State Manufacturing Survey: Activity Continued to Decline in June
Manufacturing activity contracted for a fourth consecutive month in New York State, according to the Empire State Manufacturing June survey. The diffusion index for General Business Conditions fell 6.8 points to -16.0. The latest reading was worse than the forecast of -5.9.
Traders Hold Their Nerve to Ride Bumpy Emerging-Market Rally
Investors are betting the months-long rally in emerging markets has further to run even as tariff threats and escalating geopolitical tensions signal a rocky path ahead.
Weekly Economic Snapshot: Inflation Edges Up While Sentiment Rebounds
Last week’s economic signals showed cautious optimism and renewed concern. Inflation saw a slight uptick in May.
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.
Blackstone Taps Ex-Lazard Top Dealmaker, Aims to Back More Banks
Blackstone Inc. hired Joseph Cassanelli, a banker who drove major Wall Street deals, as the private equity firm prepares to invest more in banks and insurers.
Time to Audit the Gold: Why Congress Is Finally Asking Hard Questions
The Gold Reserve Transparency Act of 2025 (House Bill 3795), calls for a full, modern audit of America's gold holdings—something that hasn't occurred in over 65 years.
The Deficit Narrative May Find its Cure in Artificial Intelligence
Lately, the “deficit narrative” has dominated much of the financial media, particularly those channels that are continual “purveyors of doom.” In this post, we will discuss the “deficit narrative,” the likely outcomes, and why the cure for the deficit may be found in Artificial Intelligence.
Consumer Sentiment Rebounds in June
Consumer sentiment rebounded in June, improving for the first time in six months. The Michigan Consumer Sentiment Index rose to 60.5 this month, its highest level since February but still historically low.
3 New ETFs That Reflect Emerging 2025 Market Trends
Rampant uncertainty and ongoing market volatility in 2025 have done little to dampen the ETF industry, with innovative launches ongoing.
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.
Investing Beyond Benchmarks: The Case for Unconstrained Equities
Market indexes can be a useful barometer of long-term performance. But the investment opportunity set need not start and end there.
Schwab Market Perspective: 2025 Mid-Year Outlook
Tariff policy has clouded expectations for the second half of the year, but there are ways to navigate through the fog.
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.
Asset Allocation Bi-Weekly: The Japan Problem
Just one day after Prime Minister Shigeru Ishiba likened Japan’s debt situation to that of Greece, the country faced its weakest demand for 20-year bonds since 2012.
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.
The South Is Beating Inflation — But Not Housing
US economic data continue to send mixed signals, keeping uncertainty high on interest rate cuts from the Federal Reserve later this year.
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.
Vanguard Seeks SEC Approval to Expand Tax-Busting Fund Design
Vanguard Group Inc., the investment giant famous for low-cost index funds, is seeking regulatory approval to expand its signature tax-saving fund structure — as anticipation grows that the Securities and Exchange Commission under Paul Atkins will soon embrace the design en masse.
Options Signal EM Firms’ Outperformance Could Fade: Taking Stock
For US traders, developing-country stocks have been a surprising source of returns as Donald Trump’s trade war roiled the S&P 500 Index.
Washington: What to Watch Now
The Senate is continuing to work behind the scenes to develop its version of the "One Big Beautiful" tax and spending bill that passed the House by a singe vote in May.
Invest in Enterprise Products Partners for High and Stable Income
In this video, Chuck Carnevale, co-founder of FAST Graphs, aka Mr. Valuation presents a detailed analysis of Enterprise Products Partners (EPD), a midstream master limited partnership (MLP) known for its high income potential, offering investors a stable and growing dividend yield.
"Yen-Carry" Anniversary Nears, but Worries Fade
Summer re-runs are popular on TV, but a repeat of last August's "yen-carry" market upheaval isn't likely on the schedule. A shift in positioning by investors is one reason.
Gold has Glittered Amidst Storming Markets
Gold plays a distinct role in the global monetary system. Simply put, it’s perceived as money, and its function as a store of value makes it arguably the world’s most popular hedge against inflation.