Risk Management

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.

The hype cycle around artificial intelligence (AI) often moves faster than the capabilities it touts.

Eitelman began by assessing the health of the U.S. economy through hard and soft data. He explained that hard data refers to measures of actual spending and economic activity, while soft data refers to how companies and consumers respond to surveys.

Tariff uncertainty, a weakening US dollar, and surging Treasury yields are flashing warning signs for investors. Explore how political risks, fiscal policy, and global volatility are reshaping capital flows and market confidence.

A fundamental lesson in finance is a security’s price should be the present value of all future cash flows. Cash flows typically consist of a regular string of dividend payments and an assumed liquidation value at the end of the time horizon.

We’ve expected a recession for more than a year now. Simply put…the Era of Easy Everything is Over. Expanding deficits and easy money (that have lifted the economy since COVID) are no longer with us. At the same time, tariff negotiations have created an unbelievable amount of uncertainty.

Compare corporate and municipal bonds, including risks, returns, and tax benefits. Learn which bond type fits your investment goals.

U.S. defensives and international lead.a

Markets were rattled by tariff announcements in early April. Here are three takeaways for investors considering preferred securities, investment-grade and high-yield corporate bonds.

In nominal terms, the yellow metal set multiple new all-time highs this week, exceeding $3,300 an ounce for the first time ever on Wednesday. And on an inflation-adjusted basis, gold also notched a new record price, surpassing the longstanding record set in 1980.

President Trump’s tariffs bring déjà vu for the euro-area economy: it’s back to slower growth and lower rates.

Investing in stocks so far in 2025 has not been for the faint of heart. Some market indices have undergone wild swings, flirting with bear-market territory

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.

The first quarter of 2025 marked a significant departure from the preceding two years, which had been characterized by an improving global economy and correspondingly positive market returns. Market performance in Q1 was dominated by abrupt, short-term policy shifts rather than longer-term economic trends, and tariffs became the foremost concern for market participants.

While the April 2 tariff announcements were more severe than anticipated, Vanguard’s active fixed income managers were well-prepared for the subsequent market reaction.

Less favorable seasonal technicals, increased focus on municipal-specific policy risks, and severe volatility spurred by higher-than-anticipated tariff increases weighed heavily
on sentiment and resulted in deeply negative total returns and significant underperformance versus Treasuries in March and early April.

Rapid U.S. policy changes pose challenges for investors accustomed to a global financial system anchored in U.S. markets and assets.

Banks blew Q1 earnings expectations out of the water, benefitting from high trading volumes, but CEO commentary remains cautious for 2025.

Stock markets have been rattled by trade war tensions and economic uncertainty driven by US tariff policies. Yet history suggests that equities have usually performed well in the aftermath of peak market volatility.

Right now we are in an incredibly complicated environment with regard to U.S. tariff policy gyrations and its whipsawing impact on global equity markets. One thing we can confidently assert is that however the trade negotiations play out, there will be higher tariffs and this will be negative for U.S. growth.

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

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

Although uncertainty remains, perpetual market swings may be less frequent.

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

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

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

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

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

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

While we continue to feel the U.S. has structural investment advantages, we are mindful that the scope of the current administration's policy shifts may present challenges to our sustained economic momentum.

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

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

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

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

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

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

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

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

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

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

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