Investors can be forgiven their skepticism towards small caps, despite the current rally. After all, small caps have underperformed the top-heavy, large-cap S&P 500 over the last decade.
As investor adoption of crypto, retail and institutional, continues to grow exponentially, discussions are typically centered around bitcoin and ethereum. The former is lauded for its store of value while the latter carries more functional utility when taking into account its role in the blockchain network.
Every week, this platform is used to highlight current ideas, fixed-income concepts, economic occurrences, and/or clarify a strategic fixed-income feature. The cohesive topic threads are fixed-income issues relevant to current market conditions.
On a recent episode of the Money Metals podcast, host Mike Maharrey interviewed Greg Weldon. Gold had pushed past $4,300, and silver broke $54 on the day of recording.
The most useful conversations about crypto don't start with block times or cryptography; they start with the monetary system. When money supply compounds and confidence in policy waxes and wanes, investors may reach for hard assets—tangible, scarce resources with intrinsic use value whose supply is difficult or costly to expand.
Earnings growth and attractive valuations for Japanese companies, reforms to corporate governance, and other shifts in the Japanese economy may create opportunities for investors.
In high-stakes negotiations, there are usually a series of threats and retreats before the final handshake. Each side uses bargaining chips to shape the outcome of the discussions. But bargaining chips don’t always lead to bargains.
In corporate credit markets, early indicators of stress often emerge subtly — not through dramatic dislocations, but through nuanced shifts in borrower behavior and market dynamics.
GMO has posted a new 7-Year asset class forecast as of September 30, 2025.
Last week’s scheduled release of the Consumer Price Index (CPI) for September was postponed due to the ongoing federal government shutdown, which has disrupted the operations of key agencies like the Bureau of Labor Statistics (BLS).
As the market concerns itself with a potential artificial intelligence (AI) bubble, there is a clearer and more practical approach that can be taken by investing in companies that could potentially benefit as AI technology progresses.
Since the shutdown began, air traffic controllers and TSA agents have been working without pay. Many are calling in sick, leading to longer lines and more flight disruptions.
Head of U.S. Fixed Income Greg Wilensky and Portfolio Manager Jeremiah Buckley discuss how balanced strategies can help investors stay true to their long-term objectives by providing a less volatile option to an all-equity portfolio.
So while there is a lot of focus on drug prices, measures taken to date are unlikely to make a meaningful impact on costs paid by the U.S. and its citizens. More fundamental reform would likely take an act of Congress, which would be hotly contested by lobbyists. There is no end in sight for debate on this front.
The 10-year Treasury briefly tested 4% and slipped just below, exactly what you’d expect when credit jitters boost demand for safe collateral. Real yields eased as well, consistent with a modest risk-off bid. Treasuries remain the cleanest hedge when credit fears pop, and that relationship asserted itself again last week.
While many investors entered 2025 heavily exposed to tech already, that hasn’t stopped markets from identifying other opportunities created by the need for AI computing power, like data centers.
Stock markets are at all-time highs, public companies are shutting down their operations to buy bitcoin, consumers can bet in real time on almost anything they can imagine, “meme stocks” are back in full force, even the US government is buying stocks.
Despite short-term bearish sentiment, the case for Bitcoin remains underpinned by persistent macro weakness, potential Fed easing, and renewed distrust in traditional financial systems.
As we recently argued, investors don’t need to worry about the federal government shutdown showdown causing a recession. Before the current shutdown, the federal government had been shut for eighty days in the prior thirty years, with none of those days during a recession.
For most investors, energy security probably tends to be an afterthought until an event drives a jump in prices at the pump, as seen with Russia’s invasion of Ukraine. However, energy security is about much more than geopolitics, especially as demand for electricity is poised for growth.
Active fixed income ETFs can provide the refresh many investors want as the year draws to an end in an uncertain rate market.
Pictet Asset Management just added three funds to a 2025 that’s seen a record number of actively managed ETF launches: the Pictet AI Enhanced International Equity ETF (PQNT), Pictet Cleaner Planet ETF (PCLN), and Pictet AI & Automation ETF (PBOT).
Every market cycle eventually changes investor psychology to believe risk has been conquered.
Debt-driven growth definitely feels good. We all enjoy it immensely as long as it lasts. Then the lights go out and the party’s over. Yes, it starts again, but not until we all stumble around in the dark for a while.
In another sign that we are entering an era of even looser monetary policy, Federal Reserve Chairman Jerome Powell hinted that balance sheet reduction is about to come to an end.
There is little question that the key economic storyline of Q3 was the fact that new job creation was not anywhere near as solid as the markets and, perhaps more importantly, the Fed believed.
Monetary and fiscal policy are now decisively stimulative to the economy thanks to interest rate cuts and the passage of the One Big Beautiful Bill Act. This should provide a tailwind to investments.
The third quarter demonstrated the market’s ability to focus on powerful, long-term themes like technological productivity and monetary policy, even amidst significant short-term political noise. While large technology companies were once again a driver of headline returns, the positive performance across nearly all global asset classes rewarded a diversified approach.
The stock and bond markets are taking the government shutdown—and lack of data releases—in stride, but how long the calm might last is an open question.
In a week marked by renewed S&P 500 volatility stemming from reignited tariff talks and the ongoing challenge of a government shutdown that continues to delay crucial government reports, investors and analysts have increasingly turned to secondary economic indicators for a timely view of the U.S. economy.
In Game 1 of the 2025 National League Championship Series, the Dodgers looked ready to break the game open. Bases loaded, one out, Max Muncy at the plate.
If an investor has ever asked “Can you help me pay less in taxes?” then you’re not alone.
As the bond market expects more rate cuts to come after September’s drop of 25 basis points, investors may want to consider intermediate bonds as a way to maximize income.
Rare earth elements have become the latest flashpoint in the collision between geopolitics and markets.
As funded status rises, the idea of plan hibernation may become more attractive, enabling strategic use of pension surplus.
As the calendar has now turned squarely into Q4, the sweepstakes for who will be nominated as next Chair of the Federal Reserve will no doubt increase.
With Congress unable to reach an agreement on funding the government, a government shutdown began when the new fiscal year started on October 1.
According to Wall Street Horizon’s proprietary data, Q3 2025 marked a record in the number of new U.S. ETF launches. The tally (above 200) brought the trailing four-quarter sum to more than 800. Investors have never had more choice to tweak their strategies, aim for higher income yields, or even bet on single stocks in new, creative ways.
The U.S. economy shows moderate growth and rising inflation, with manufacturing lagging and services expanding. Recession fears have faded; policy uncertainty and deficits remain concerns. AI drives market highs, gold surges, and investment focuses on healthcare, materials, and gold.
One of the most interesting changes was Vietnam’s upgrade from frontier to emerging market. This will affect all FTSE indexes as of September 2026, likely with a phased implementation.
We examine the broader implications of China’s threat to expand restrictions on rare-earth exports.
Recent data shows that even after strong international stock performance year-to-date U.S. stock markets continue to dominate global equity indexes, representing around two-thirds of the market capitalization of all global stocks, as represented by the MSCI All Country World Index (ACWI).
Big banks begin reporting Tuesday and are expected to benefit from a steeper yield curve, strong trading, and investment banking demand. The profit path ahead is less certain.
Medicare open enrollment, which is underway and runs until December 7, allows individuals to change or sign up for plans, potentially saving money and/or improving their coverage. Our Bill Cass shares the key things you need to know.
During the third quarter of 2025, the U.S. markets demonstrated notable resilience despite facing a complex mix of trade tensions, policy shifts, and economic sector-specific developments.
Many investors are likely familiar with the rapidly increasing demand for electricity, and the role nuclear power can play therein. Rcapacity is complicated in a country that has only added three large reactors since 1996. But recent news from the U.S. military may jump start nuclear power infrastructure supply chains.
With gold scaling record highs on what feels like a daily basis, mainstream financial analysts are scrambling to raise their price forecasts.
The financial markets have been laser-focused on upcoming policy decisions from the Fed, and rightfully so. Following the resumption of the current rate cut cycle, investors have been wondering what exactly this second phase will ultimately look like.
Argentina's latest lifeline does not address the nation's structural issues.
As our title suggests, September saw positive performance in fixed income markets but a great and overdue catch-up for municipal bonds.
