Insight Reports
November 4, 2025
Bonds – View from the Trenches November 04, 2025 Morning Update U.S. Treasuries firmed overnight as growth cooled and policy uncertainty increased. ISM manufacturing fell to 48.7 in October as new orders/production weakened and prices eased. Meanwhile, the Treasury cut its Q4 borrowing estimate to $569B, an additional tailwind for […]
November 3, 2025
Bonds – View from the Trenches November 03, 2025 Morning Update After last week’s hawkish pushback from Chair Powell, bond markets are looking for direction in private-sector data. For example, we get ISM data today and ADP/ISM Services data mid-week. The Treasury Department will release its Quarterly Refunding Announcement on […]
November 2, 2025
Major Asset Classes October 2025 Performance Comparison Introduction October returns ended on a strong note as year-on-year earnings growth of the S&P 500 index is coming at 10.7% for third quarter. The S&P 500 index (+2.3%) was up for the month supported by the Fed’s recent rate cut, supportive changes […]
October 2, 2025
Major Asset Classes September 2025 Performance Comparison Introduction September returns mark six straight month of consecutive stock market gains. September 2025 was also the best September for equity returns in 15 years. It was a stellar third quarter, thanks to a Fed policy shift, strong earnings upgrades, and robust consumer […]
September 1, 2025
Major Asset Classes August 2025 Performance Comparison Introduction August returns mark the fourth straight month of consecutive gains, resulting in high valuations and leaving prices vulnerable to drawdowns, as seen on the last day of the month. The S&P 500 index (+1.9%) saw solid corporate earnings and increased optimism surrounding […]
August 6, 2025
Tactical Positions for Fed Rate Cuts Introduction Signs of economic slowing and a softer labor market are starting to shift the market yield outlook after a prolonged period of high interest rates. Falling rates tend to favor growth stocks, bonds, gold, real estate, and infrastructure development projects. Portfolio rebalancing toward […]
August 2, 2025
Major Asset Classes July 2025 Performance Comparison Introduction July returns for the S&P 500 index (+2.2%) maintained upward momentum for the third month in a row despite ongoing tariff tensions and economic uncertainty. A key driver was second quarter earnings which grew 10.3% on an annual basis versus pre-report estimates […]
July 4, 2025
Major Asset Classes June 2025 Performance Comparison Introduction June returns for the S&P 500 (+5.0%) were solid despite volatility from trade tensions, inflation concerns, and geopolitical risks. The last day of the quarter also saw a new all-time high, fueled by strong earnings from big tech and optimism from potential […]
May 3, 2025
Major Asset Classes April 2025 Performance Comparison Introduction April returns tell a tale of two markets. Early in the month, a severe market drawdown was triggered by tariff turmoil. Notably, the second half of the month had a relief rally given reduced geopolitical tension and improving corporate earnings. The S&P500 […]
March 2, 2025
Major Asset Classes February 2025 Performance Comparison Introduction February returns for the S&P 500 index (-1.4%) saw two all-time highs followed by sell-off at month-end tied. The market turned on new fiscal tightening, pending tariffs, consumer confidence declines, and forward projections of lower GDP and earnings growth. A shift in […]