Investors should always be attuned to inflation risk, but it seems pronounced in this moment. How should your clients adjust behavior and investments?
As AI capabilities continue to advance, we can expect even more sophisticated financial planning tools to become accessible to the average person, potentially improving retirement outcomes for many.
Bond investors are demanding more and more compensation to hold long-dated US debt as global markets grow anxious about the widening fiscal deficit in the world’s biggest economy.
Shopping for bonds? The bonds you choose should align with your risk tolerance and goals. Discover what to consider before buying any bond.
Investors active today can be forgiven if the events of the past few months have been a bewildering experience.
What investors thought was going to be a nice start to a weekend in May got turned around with a late Friday announcement that Moody’s had just downgraded the U.S. long-term credit rating.
The market narrative appears to change on a dime these days. Stocks may have staged a comeback to recoup almost all their post-“Liberation Day” losses. But the bottom line on the fixed income market hasn’t changed all that much.
In this article, Russ Koesterich discusses the potential impact of seasonal weakness, momentum and the effect these factors could have on earnings in 2H2025.
Trade pacts with America will not mean a return to the old normal.
The world’s largest asset manager is adding to bets on the artificial intelligence within its US model portfolios while trimming its overall equity risk because of tariff uncertainty.
Investors dumped US stocks Wednesday afternoon following a disappointing Treasury auction that sent bond yields surging past levels seen during April’s market rout.
Applications for US unemployment benefits fell to a four-week low, adding to evidence that the job market remains healthy in the face of growing uncertainty tied to trade policy.
Tariffs, inflation, geopolitical tensions, and other factors continue to feed into market uncertainty for even safe haven assets like Treasuries. As such, investors could be giving riskier emerging market (EM) bonds a second look.
Best-in-class OCIO providers understand the importance of a deep relationship and will invest considerable time cultivating one.
In a year dominated by multimodal marvels and reasoning breakthroughs, perhaps the most economically significant shift in AI went largely underplayed: cost collapse.
The April Consumer Price Index (‘CPI’) report was released last Wednesday and gave the Federal Reserve another positive data point in its inflation fight, as did Thursday’s negative Producer Price Index (‘PPI’).
The shifting change in market leadership to international outperformance may call for a portfolio review to assess overexposure risks.
Innovative ETFs are making waves as investors look for fresh ways to navigate a market marked by rapid growth and ongoing volatility.
Bitcoin options traders are setting their sights on much higher prices while the largest cryptocurrency flirts with its fairly recent all-time high.
Nvidia Corp. chief Jensen Huang blasted the “failure” of US restrictions intended to help contain China’s technological ascent, calling on the White House to lower barriers to AI chip sales before American firms cede that market to up-and-coming rivals such as Huawei Technologies Co.
With the CHOICE Act poised to strengthen non-competes in Florida, advisors may face a shrinking window of opportunity.
Most investors would jump at the chance to add more money to their portfolio, but they often fail to consider the hidden costs associated with it.
Emerging-market (EM) stocks might not seem an obvious choice for anxious investors during a trade war. But history suggests that past volatility peaks have created favorable moments to invest in EM stocks.
Last week I talked about the upward sloping Treasury yield curve, a welcome change from the inverted yield curve that lingered for years. The upward sloping curve means that investors are rewarded more for taking on duration.
As investors, we need to step back and examine the history of previous debt downgrades and their outcomes for the stock and bond markets. Let’s start with what Moody’s rating agency stated about its rating change.
Moody’s Ratings has followed S&P Global Ratings and Fitch Ratings in stripping the US of its top-notch credit score, lowering it one level to Aa1.
Globalt remains conservatively positioned with an underweight in global equities, and neutral duration in fixed income.
In an investment landscape dominated by market-cap-weighted benchmarks, the Barron’s 400 ETF (BFOR) offers a different path through GARP.
Tidal’s Mike Venuto discusses the latest in ETF innovation, from 351 conversions and the ETF share class structure to options-based strategies and leveraged products. VettaFi’s Kirsten Chang offers a tour around the world of fixed income ETFs, highlighting recent flows, new launches, and under-the-radar success stories.
Goldman Sachs Group Inc. is looking to open more offices and boost headcount in the Middle East, joining Wall Street peers expanding in the region to tap its deep pools of capital.
If there were ever a time for more funnel cake — oops, I mean municipal bonds—that time may be now.
The 60/40 approach has not been what it was just a few years ago. Fortunately, there are alternatives.
By incorporating growth CDs into a diversified retirement plan, retirees can take advantage of equity market growth, protect their lifestyle, and avoid the fear of market downturns diminishing their savings.
President Donald Trump’s first overseas trip since returning to the White House is turning heads across the aerospace & defense and semiconductor industries.
President Trump’s tariff maneuvers sent financial markets on a rollercoaster. The shock from his aggressive trade policies triggered a surge in volatility, briefly pushing the VIX above 50 – an extremely rare event.
Macroeconomic and structural trends are finally moving in favor of emerging local currency bonds, after recent setbacks.
Head of U.S. Fixed Income Greg Wilensky and John Lloyd, Lead, Multi-Sector Credit Strategies, discuss Moody’s rating downgrade of the U.S. and what the implications may be for the Treasury market, the Federal Reserve (Fed), and fixed income investors.
Bitcoin was launched in 2008. It was the following year when it was initially used as an actual currency.
Recent revisions to the IMF’s World Economic Outlook reflect a sobering message: the world economy is entering a more volatile and fragmented era.
Over the past ten years, we’ve discussed this question with about 50 of our friends and clients, resulting in many animated and productive conversations.
Given the recent market volatility and the possibility of an adverse wealth effect, it's worth quantifying the relationship between stock returns and economic activity.
Don’t allow your middle-aged clients depending on their 401(k) plan to fool themselves. Markets can’t rescue a failure to save until it hurts. And don’t let them kid themselves that a smoother ride with bonds won’t come at the cost of increased shortfall risk.
As markets rebound from a brief but sharp correction, Journey’s investment team reflects on the impact of tariffs, global diversification, and the evolving role of alternatives in investor portfolios. With caution as the theme, this month’s commentary urges investors to revisit risk tolerance and stay grounded in disciplined, long-term strategies amidst ongoing economic uncertainty.
US stocks delivered their second-best weekly gain of the year on Friday, as Big Tech fueled a rally that brought the S&P 500 Index closer to an all-time high set nearly three months ago.
The recent rally began when Treasury Secretary Scott Bessent struck a more conciliatory tone with China, saying he expected a de-escalation shortly.
Stocks have rebounded since the White House delayed steep tariffs that were announced in early April, but trade policy remains a potential driver of volatility.
A recent Gallup poll shows gold just passed stocks as Americans’ favorite long-term investment. We explore why it might deserve the top spot.
Major gauges of investment-grade corporate bonds were stung by the April bout of volatility that permeated the bond market.
While equities are on their way to recovering January 1 levels, enhanced volatility lends itself to active ETF strategies this year.
Global funds are pouring money back into India, driving billion-dollar corporate financing deals and sending stocks prices to near a seven-month high, as investors bet that Asia’s third-largest economy can emerge as a winner in President Donald Trump’s trade war.
Technology stocks have been buffeted by market volatility in early 2025, with shares tied to artificial intelligence (AI) hit especially hard.
In the latest report by the Census Bureau, building permits dropped to a seasonally adjusted annual rate of 1.412 million in April, the lowest level in almost a year. This marks a 4.7% decrease from March and a 3.2% decline compared to one year ago.
In the latest report by the Census Bureau, housing starts inched up to a seasonally adjusted annual rate of 1.361 million in April. This marks a 1.6% increase from March but a 1.7% decrease compared to one year ago.
The 90-day reduction on tariffs between the US and China is a positive development, but some questions remain.
We maintain a focus on resiliency as elevated yields within high quality fixed income continue to offer attractive opportunities.
After a brief reprieve from all the recession talk while the Fed was raising rates to decades-old high watermarks, the ‘R’ word has come back into vogue once again post-Liberation day.
Despite the announcement of new tariffs, long-term inflation expectations—as measured by the 5y5y inflation rate—have remained stable
Alternative ETFs, which package exposures like commodities and digital assets, have experienced record-breaking adoption in the past year.
Nominal retail sales in April were up 0.06% month-over-month (MoM) and up 5.16% year-over-year (YoY). However, after adjusting for inflation, real retail sales were down 0.16% MoM and up 2.76% YoY.
Builder confidence fell sharply in May as uncertainty stemming from elevated rates, tariffs, building costs, and the cloudy economic outlook dragged builder sentiment to its lowest level in 18 months.
The Census Bureau's Advance Retail Sales Report for April showed consumer spending inched up last month, with head sales rising 0.1%. This comes on the heels of March's 1.7% surge in spending and was higher than the 0.0% forecast.
The latest Philadelphia Fed manufacturing index showed weak activity this month. The index rose nearly 22 points but remained negative for a second straight month at -4.0. The latest reading was better than the forecast of -11.3.
Wholesale inflation unexpectedly fell in April, experiencing its largest monthly decline in five years. The producer price index for final demand was down 0.5% month-over-month after a flat reading in March. This was lower than the expected 0.2% growth.
The selloff in Japan’s long-dated bonds is drawing international investors, who expect the securities to rebound as global trade turmoil abates.
In the week ending May 10th, initial jobless claims were at a seasonally adjusted level of 229,000. This is unchanged from the previous week's figure and was consistent with the forecast.
Saudi Arabia is ramping up efforts to lure high frequency trading firms — a campaign that’s already brought in major players from Citadel Securities to Hudson River Trading — as it looks to bolster activity on the Middle East’s largest stock market.
JPMorgan Chase & Co.’s chief of global markets strategy said the US could dodge a recession as the probability of that scenario has decreased following better clarity over global trade.
Keeping your financial plan aligned with your goals, risk tolerance and time horizon.
Our overarching theme for U.S. fixed income has been, and will continue to be, based on the premise that interest rates will stay at more historically “normal” levels, but that, within this backdrop, investors will face heightened volatility.
In this video – Part 2 – Extreme Risk of High Valuation – Chuck Carnevale, Co-Founder of FAST Graphs, aka Mr. Valuation discusses the volatility of the stock market, using the S&P 500 (SPY) as a proxy.
By the end of April, the S&P 500 rallied its way back, recovering nearly all the declines notched in the opening days of the month when President Trump's "Liberation Day" tariff plans tipped markets towards bear territory.
When volatility ripped through markets last month, many investors scrambled to respond. Some wanted to quickly adjust specific security exposures. Others wanted to flee to cash or build in protection against additional downside moves. And some rushed to buy the dip.
Certificates of deposit (CDs) and Treasuries both can offer steady, predictable investment income—but how to decide between them? Here are five factors to help you choose.
Equity investors pushed back into the market by a relentless rally are about to find out that the real challenge is just beginning.
Anyone betting on the end of the private credit boom has been on the back foot of late as the upstart $1.6 trillion asset class has notched up a string of wins. But the industry’s naysayers won’t be conceding defeat just yet.
Flows of gold into Asian ETFs exploded in April, driving global ETF gold holdings higher for the fifth straight month.
Assessing a bear market rally proves challenging when you experience it firsthand. It is only in hindsight that the complete picture reveals itself to investors. Of course, after a bear market rally, investors tend to review their investments and speculate on what they should have done differently.
The surprisingly large reduction in mutual tariffs between China and the U.S. announced early Monday morning has sent the markets flying. Trump has softened his approach dramatically and markets are expecting future deals. The base case: everyone at 10%, China at say 20% is still a jump, but at least will likely prevent a recession. Trade and tariffs remain the main focus for markets.
The more duration risk taken, the more reward or yield demanded by investors. This is why, historically, the yield curve provides incrementally more yield for longer-maturity bonds.
In the report, Portfolio Managers John Kerschner, Nick Childs, and Thomas Polus highlight three reasons why agency mortgage-backed securities (MBS) look attractive in the present environment.
In this video, Chuck Carnevale, Co-Founder of FAST Graphs, aka Mr. Valuation discusses the volatility of the stock market, the truth about the S&P 500’s valuation, using the S&P 500 (SPY) as a proxy.
Commonwealth Financial Network®, a national RIA dedicated to providing financial advisors with holistic, integrated business solutions, has initiated a new partnership with Messina College, a two-year, all-residential degree program of Boston College that welcomed its first-ever class of students to the school’s Brookline Campus last summer.
The Consumer Price Index for Urban Consumers (CPI-U) release for March puts the year-over-year inflation rate at 2.31%. The latest reading keeps inflation below the 3.73% average since the end of the Second World War for a 23rd straight month. Additionally, for a 3rd consecutive month, inflation sits below the 10-year moving average which is at 2.97%.
Gas prices dropped to their lowest level in seven weeks. As of May 12th, the price of regular gas down 3 cents while premium gas was unchanged from the previous week.
In 2025, liquidity is not a background variable — it's a front-line risk factor, one that’s being tested repeatedly as global markets navigate a web of geopolitical uncertainty and macroeconomic signals.
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
The NFIB Small Business Optimism Index dropped for a fourth straight month, falling to 95.8 in April. Notably, the percent of small business owners who reported difficulty filling job openings fell to its lowest level since January 2021.
Inflation cooled for a third straight month in April, hitting its lowest level in over four years. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.3% year-over-year, down from 2.4% in March and lower than the expected 2.4% growth.
The early-April announcement of a broad new round of tariffs against virtually all U.S. trading partners—followed by a pause for many of them—has triggered a tidal shift in the global economy. Uncertainty created by tariff negotiations, as well as burgeoning federal debt levels and other ongoing concerns, has far-reaching economic implications, leading us to reassess our 2025 outlook.
In the latest edition of Design Matters, titled “What’s the Frequency… Russell?” Greg Behar of Westwood’s Managed Investment Solutions (MIS) team examines how the Russell U.S. Indexes’ decision to return to a semi-annual reconstitution schedule is transforming risk management practices, market participation and the future of custom indexing.
Volatility/Downside Protection
Portfolio Management as the U.S. Shifts Its Geopolitical Role
Investors should always be attuned to inflation risk, but it seems pronounced in this moment. How should your clients adjust behavior and investments?
Using AI to Create a Monte Carlo Retirement Simulation
As AI capabilities continue to advance, we can expect even more sophisticated financial planning tools to become accessible to the average person, potentially improving retirement outcomes for many.
US Long-Term Borrowing Costs Surge Over Deficit Concerns
Bond investors are demanding more and more compensation to hold long-dated US debt as global markets grow anxious about the widening fiscal deficit in the world’s biggest economy.
How to Buy Bonds: A 3-Step Guide
Shopping for bonds? The bonds you choose should align with your risk tolerance and goals. Discover what to consider before buying any bond.
A Return to the 19th Century
Investors active today can be forgiven if the events of the past few months have been a bewildering experience.
Putting a Downgrade in Perspective
What investors thought was going to be a nice start to a weekend in May got turned around with a late Friday announcement that Moody’s had just downgraded the U.S. long-term credit rating.
Engine of Active ETF Creation: Latest Flight of Fixed Income Offerings
The market narrative appears to change on a dime these days. Stocks may have staged a comeback to recoup almost all their post-“Liberation Day” losses. But the bottom line on the fixed income market hasn’t changed all that much.
Seasonal Weakness Is a Bigger Risk This Year
In this article, Russ Koesterich discusses the potential impact of seasonal weakness, momentum and the effect these factors could have on earnings in 2H2025.
A New Dawn?
Trade pacts with America will not mean a return to the old normal.
BlackRock Adds to AI-Stocks Bet in $160 Billion Model Portfolios
The world’s largest asset manager is adding to bets on the artificial intelligence within its US model portfolios while trimming its overall equity risk because of tariff uncertainty.
Market Tests Investors’ Nerves as Stocks Sell Off After Auction
Investors dumped US stocks Wednesday afternoon following a disappointing Treasury auction that sent bond yields surging past levels seen during April’s market rout.
US Initial Jobless Claims Decline to Lowest Level in Four Weeks
Applications for US unemployment benefits fell to a four-week low, adding to evidence that the job market remains healthy in the face of growing uncertainty tied to trade policy.
Skittish Investors Giving EM Bonds a Second Look
Tariffs, inflation, geopolitical tensions, and other factors continue to feed into market uncertainty for even safe haven assets like Treasuries. As such, investors could be giving riskier emerging market (EM) bonds a second look.
Don’t Overlook the Human Element of OCIO
Best-in-class OCIO providers understand the importance of a deep relationship and will invest considerable time cultivating one.
The Real AI Revolution Is Accessibility
In a year dominated by multimodal marvels and reasoning breakthroughs, perhaps the most economically significant shift in AI went largely underplayed: cost collapse.
Inflation Continues to Cool
The April Consumer Price Index (‘CPI’) report was released last Wednesday and gave the Federal Reserve another positive data point in its inflation fight, as did Thursday’s negative Producer Price Index (‘PPI’).
Why International and Why Now
The shifting change in market leadership to international outperformance may call for a portfolio review to assess overexposure risks.
First-of-Their-Kind Innovative ETFs Launched in 2025
Innovative ETFs are making waves as investors look for fresh ways to navigate a market marked by rapid growth and ongoing volatility.
Bitcoin Options Traders Eye $300,000 With Record High In Sight
Bitcoin options traders are setting their sights on much higher prices while the largest cryptocurrency flirts with its fairly recent all-time high.
Nvidia CEO Urges US to Ease AI Curbs After ‘Failure’ With China
Nvidia Corp. chief Jensen Huang blasted the “failure” of US restrictions intended to help contain China’s technological ascent, calling on the White House to lower barriers to AI chip sales before American firms cede that market to up-and-coming rivals such as Huawei Technologies Co.
Florida Advisors Have A Choice To Worry About
With the CHOICE Act poised to strengthen non-competes in Florida, advisors may face a shrinking window of opportunity.
The Case for International Equities in Target-Date Funds
Most investors would jump at the chance to add more money to their portfolio, but they often fail to consider the hidden costs associated with it.
Why Does Volatility Often Lead to Strong Emerging Equity Returns?
Emerging-market (EM) stocks might not seem an obvious choice for anxious investors during a trade war. But history suggests that past volatility peaks have created favorable moments to invest in EM stocks.
Growing U.S. Debt – Trouble Ahead?
Last week I talked about the upward sloping Treasury yield curve, a welcome change from the inverted yield curve that lingered for years. The upward sloping curve means that investors are rewarded more for taking on duration.
Moody’s Debt Downgrade – Does It Matter?
As investors, we need to step back and examine the history of previous debt downgrades and their outcomes for the stock and bond markets. Let’s start with what Moody’s rating agency stated about its rating change.
Moody’s Market Jolt Will Leave Its Mark
Moody’s Ratings has followed S&P Global Ratings and Fitch Ratings in stripping the US of its top-notch credit score, lowering it one level to Aa1.
Changing the World Takes Time
Globalt remains conservatively positioned with an underweight in global equities, and neutral duration in fixed income.
A Balanced Approach to U.S. Equity Through GARP
In an investment landscape dominated by market-cap-weighted benchmarks, the Barron’s 400 ETF (BFOR) offers a different path through GARP.
Inside ETF Innovation: A Conversation with Tidal’s Mike Venuto
Tidal’s Mike Venuto discusses the latest in ETF innovation, from 351 conversions and the ETF share class structure to options-based strategies and leveraged products. VettaFi’s Kirsten Chang offers a tour around the world of fixed income ETFs, highlighting recent flows, new launches, and under-the-radar success stories.
Goldman to Boost Middle East Headcount, Eyes Wealth Fund Deals
Goldman Sachs Group Inc. is looking to open more offices and boost headcount in the Middle East, joining Wall Street peers expanding in the region to tap its deep pools of capital.
Funnel Cakes, Carnival Rides, and Municipal Bonds
If there were ever a time for more funnel cake — oops, I mean municipal bonds—that time may be now.
The Rebirth of the 60/40 Portfolio Has Been Greatly Exaggerated
The 60/40 approach has not been what it was just a few years ago. Fortunately, there are alternatives.
Growth CDs: Access Stock Market Appreciation With FDIC Protection
By incorporating growth CDs into a diversified retirement plan, retirees can take advantage of equity market growth, protect their lifestyle, and avoid the fear of market downturns diminishing their savings.
Trump’s Gulf Visit Ignites Record Military Sales and AI Infrastructure Boom
President Donald Trump’s first overseas trip since returning to the White House is turning heads across the aerospace & defense and semiconductor industries.
Market Turnaround Raises Question: Where Do We Go From Here?
President Trump’s tariff maneuvers sent financial markets on a rollercoaster. The shock from his aggressive trade policies triggered a surge in volatility, briefly pushing the VIX above 50 – an extremely rare event.
The Growing Appeal of Emerging Market Local Currency Debt
Macroeconomic and structural trends are finally moving in favor of emerging local currency bonds, after recent setbacks.
Assessing the Implications of Moody’s U.S. Credit Rating Downgrade
Head of U.S. Fixed Income Greg Wilensky and John Lloyd, Lead, Multi-Sector Credit Strategies, discuss Moody’s rating downgrade of the U.S. and what the implications may be for the Treasury market, the Federal Reserve (Fed), and fixed income investors.
Bitcoin Could Flex Inflation-Fighting Muscle
Bitcoin was launched in 2008. It was the following year when it was initially used as an actual currency.
Navigating the World of Tariffs: More Uncertainty, Slower Growth, & Investment Opportunities
Recent revisions to the IMF’s World Economic Outlook reflect a sobering message: the world economy is entering a more volatile and fragmented era.
The Most Revealing Question in Personal Investing…and How Warren Buffett Helps Us Answer It
Over the past ten years, we’ve discussed this question with about 50 of our friends and clients, resulting in many animated and productive conversations.
The Wealth Effect Is Not Always Virtuous
Given the recent market volatility and the possibility of an adverse wealth effect, it's worth quantifying the relationship between stock returns and economic activity.
A 401(k) in Every Pot? The Glidepath to Nowhere
Don’t allow your middle-aged clients depending on their 401(k) plan to fool themselves. Markets can’t rescue a failure to save until it hurts. And don’t let them kid themselves that a smoother ride with bonds won’t come at the cost of increased shortfall risk.
Volatility, Valuations, and the Value of Staying the Course
As markets rebound from a brief but sharp correction, Journey’s investment team reflects on the impact of tariffs, global diversification, and the evolving role of alternatives in investor portfolios. With caution as the theme, this month’s commentary urges investors to revisit risk tolerance and stay grounded in disciplined, long-term strategies amidst ongoing economic uncertainty.
S&P 500 Notches Weekly Gain on Big Tech Strength, Trade Optimism
US stocks delivered their second-best weekly gain of the year on Friday, as Big Tech fueled a rally that brought the S&P 500 Index closer to an all-time high set nearly three months ago.
Is It a New Bull Market?
The recent rally began when Treasury Secretary Scott Bessent struck a more conciliatory tone with China, saying he expected a de-escalation shortly.
Schwab Market Perspective: The Tariff Effect
Stocks have rebounded since the White House delayed steep tariffs that were announced in early April, but trade policy remains a potential driver of volatility.
Gold Gains in Gallup’s Latest Poll
A recent Gallup poll shows gold just passed stocks as Americans’ favorite long-term investment. We explore why it might deserve the top spot.
Tap Into IG Corporate Debt Perks With IIGD
Major gauges of investment-grade corporate bonds were stung by the April bout of volatility that permeated the bond market.
As U.S. Stocks Recover YTD Losses, Look to Active Strategies
While equities are on their way to recovering January 1 levels, enhanced volatility lends itself to active ETF strategies this year.
India Is Hot Trade Again as Funds Chase Trump-Era Winners
Global funds are pouring money back into India, driving billion-dollar corporate financing deals and sending stocks prices to near a seven-month high, as investors bet that Asia’s third-largest economy can emerge as a winner in President Donald Trump’s trade war.
Investing in the Great Tech Shake-Up Amid a Tariff Storm
Technology stocks have been buffeted by market volatility in early 2025, with shares tied to artificial intelligence (AI) hit especially hard.
Building Permits Drop 4.7% in April
In the latest report by the Census Bureau, building permits dropped to a seasonally adjusted annual rate of 1.412 million in April, the lowest level in almost a year. This marks a 4.7% decrease from March and a 3.2% decline compared to one year ago.
Housing Starts Inch Up 1.6% in April
In the latest report by the Census Bureau, housing starts inched up to a seasonally adjusted annual rate of 1.361 million in April. This marks a 1.6% increase from March but a 1.7% decrease compared to one year ago.
How Does the US-China Trade Truce Impact our Market and Economic Views?
The 90-day reduction on tariffs between the US and China is a positive development, but some questions remain.
Income Fund Update: Focus on Stability Amid Turbulence
We maintain a focus on resiliency as elevated yields within high quality fixed income continue to offer attractive opportunities.
Are We Half-Way to a Recession?
After a brief reprieve from all the recession talk while the Fed was raising rates to decades-old high watermarks, the ‘R’ word has come back into vogue once again post-Liberation day.
Inflation Expectations Hold Firm Amid Tariff Noise
Despite the announcement of new tariffs, long-term inflation expectations—as measured by the 5y5y inflation rate—have remained stable
ETFs Enhance Access to Alternative Investments
Alternative ETFs, which package exposures like commodities and digital assets, have experienced record-breaking adoption in the past year.
The Big Four Recession Indicators: Real Retail Sales Fall 0.2% in April
Nominal retail sales in April were up 0.06% month-over-month (MoM) and up 5.16% year-over-year (YoY). However, after adjusting for inflation, real retail sales were down 0.16% MoM and up 2.76% YoY.
NAHB Housing Market Index: Growing Uncertainty Drags Down Builder Confidence
Builder confidence fell sharply in May as uncertainty stemming from elevated rates, tariffs, building costs, and the cloudy economic outlook dragged builder sentiment to its lowest level in 18 months.
Retail Sales Inch Up 0.1% in April, Higher Than Expected
The Census Bureau's Advance Retail Sales Report for April showed consumer spending inched up last month, with head sales rising 0.1%. This comes on the heels of March's 1.7% surge in spending and was higher than the 0.0% forecast.
Philadelphia Fed Manufacturing Index: Activity Remained Weak in May
The latest Philadelphia Fed manufacturing index showed weak activity this month. The index rose nearly 22 points but remained negative for a second straight month at -4.0. The latest reading was better than the forecast of -11.3.
Producer Price Index: Wholesale Inflation Sees Biggest Monthly Drop Since 2020
Wholesale inflation unexpectedly fell in April, experiencing its largest monthly decline in five years. The producer price index for final demand was down 0.5% month-over-month after a flat reading in March. This was lower than the expected 0.2% growth.
Vanguard, RBC BlueBay Scoop Up Battered 30-Year Japanese Bonds
The selloff in Japan’s long-dated bonds is drawing international investors, who expect the securities to rebound as global trade turmoil abates.
Unemployment Claims Unchanged from Last Week, as Expected
In the week ending May 10th, initial jobless claims were at a seasonally adjusted level of 229,000. This is unchanged from the previous week's figure and was consistent with the forecast.
Wall Street’s High-Frequency Traders Are Rushing Into Saudi Arabia
Saudi Arabia is ramping up efforts to lure high frequency trading firms — a campaign that’s already brought in major players from Citadel Securities to Hudson River Trading — as it looks to bolster activity on the Middle East’s largest stock market.
JPMorgan, Apollo Executives Say US Could Dodge a Recession
JPMorgan Chase & Co.’s chief of global markets strategy said the US could dodge a recession as the probability of that scenario has decreased following better clarity over global trade.
How Rebalancing Helps Keep Your Portfolio on Track
Keeping your financial plan aligned with your goals, risk tolerance and time horizon.
Income Without the Volatility…or Credit Exposure
Our overarching theme for U.S. fixed income has been, and will continue to be, based on the premise that interest rates will stay at more historically “normal” levels, but that, within this backdrop, investors will face heightened volatility.
The Extreme Risk of High Valuation: The Truth About the S&P 500’s Valuation (Part 2)
In this video – Part 2 – Extreme Risk of High Valuation – Chuck Carnevale, Co-Founder of FAST Graphs, aka Mr. Valuation discusses the volatility of the stock market, using the S&P 500 (SPY) as a proxy.
Is the Coast Clear Yet?
By the end of April, the S&P 500 rallied its way back, recovering nearly all the declines notched in the opening days of the month when President Trump's "Liberation Day" tariff plans tipped markets towards bear territory.
5 Ways an Overlay Can Smooth Out a Rocky Market
When volatility ripped through markets last month, many investors scrambled to respond. Some wanted to quickly adjust specific security exposures. Others wanted to flee to cash or build in protection against additional downside moves. And some rushed to buy the dip.
CD or Treasury? Five Factors to Consider
Certificates of deposit (CDs) and Treasuries both can offer steady, predictable investment income—but how to decide between them? Here are five factors to help you choose.
Stock Rally Nobody Is Comfortable With Makes It Hard to Chase
Equity investors pushed back into the market by a relentless rally are about to find out that the real challenge is just beginning.
Private Credit’s Latest Golden Moment Is Hiding the Cracks
Anyone betting on the end of the private credit boom has been on the back foot of late as the upstart $1.6 trillion asset class has notched up a string of wins. But the industry’s naysayers won’t be conceding defeat just yet.
A Surge of Gold into Asian ETFs Drove Global Holdings Higher in April
Flows of gold into Asian ETFs exploded in April, driving global ETF gold holdings higher for the fifth straight month.
A Bear Market Rally? Or, Just A Correction?
Assessing a bear market rally proves challenging when you experience it firsthand. It is only in hindsight that the complete picture reveals itself to investors. Of course, after a bear market rally, investors tend to review their investments and speculate on what they should have done differently.
Fed's Rigidity Risks Recession as Tariffs Start to Bite
The surprisingly large reduction in mutual tariffs between China and the U.S. announced early Monday morning has sent the markets flying. Trump has softened his approach dramatically and markets are expecting future deals. The base case: everyone at 10%, China at say 20% is still a jump, but at least will likely prevent a recession. Trade and tariffs remain the main focus for markets.
Market Chaos is Harvesting Income Opportunities
The more duration risk taken, the more reward or yield demanded by investors. This is why, historically, the yield curve provides incrementally more yield for longer-maturity bonds.
Indicators Flashing Green for Agency MBS
In the report, Portfolio Managers John Kerschner, Nick Childs, and Thomas Polus highlight three reasons why agency mortgage-backed securities (MBS) look attractive in the present environment.
Dissecting the Stock Market: The Truth About the S&P 500’s Valuation (Part 1)
In this video, Chuck Carnevale, Co-Founder of FAST Graphs, aka Mr. Valuation discusses the volatility of the stock market, the truth about the S&P 500’s valuation, using the S&P 500 (SPY) as a proxy.
Commonwealth Partners with Messina College, Creating Career Paths for First-Generation College Students
Commonwealth Financial Network®, a national RIA dedicated to providing financial advisors with holistic, integrated business solutions, has initiated a new partnership with Messina College, a two-year, all-residential degree program of Boston College that welcomed its first-ever class of students to the school’s Brookline Campus last summer.
Inflation Since 1872: A Long-Term Look at the CPI
The Consumer Price Index for Urban Consumers (CPI-U) release for March puts the year-over-year inflation rate at 2.31%. The latest reading keeps inflation below the 3.73% average since the end of the Second World War for a 23rd straight month. Additionally, for a 3rd consecutive month, inflation sits below the 10-year moving average which is at 2.97%.
Gas Prices Drop to 7-Week Low
Gas prices dropped to their lowest level in seven weeks. As of May 12th, the price of regular gas down 3 cents while premium gas was unchanged from the previous week.
Liquidity Risk in 2025: A Strategic Priority, Not a Side Concern
In 2025, liquidity is not a background variable — it's a front-line risk factor, one that’s being tested repeatedly as global markets navigate a web of geopolitical uncertainty and macroeconomic signals.
Inside the Consumer Price Index: April 2025
Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
NFIB Small Business Survey: Uncertainty Continues to Drag Down Optimism
The NFIB Small Business Optimism Index dropped for a fourth straight month, falling to 95.8 in April. Notably, the percent of small business owners who reported difficulty filling job openings fell to its lowest level since January 2021.
Consumer Price Index: Inflation Cools to 2.3% in April, Lower Than Expected
Inflation cooled for a third straight month in April, hitting its lowest level in over four years. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.3% year-over-year, down from 2.4% in March and lower than the expected 2.4% growth.
Active Fixed Income Perspectives Q2 2025: Risks to Realities
The early-April announcement of a broad new round of tariffs against virtually all U.S. trading partners—followed by a pause for many of them—has triggered a tidal shift in the global economy. Uncertainty created by tariff negotiations, as well as burgeoning federal debt levels and other ongoing concerns, has far-reaching economic implications, leading us to reassess our 2025 outlook.
What’s the Frequency. . . Russell?
In the latest edition of Design Matters, titled “What’s the Frequency… Russell?” Greg Behar of Westwood’s Managed Investment Solutions (MIS) team examines how the Russell U.S. Indexes’ decision to return to a semi-annual reconstitution schedule is transforming risk management practices, market participation and the future of custom indexing.