Research & News
Daily Comment (March 25, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with news of a potential new economic stimulus program that could potentially boost growth and stock prices in China. We next review several other international and US developments with the potential to affect the financial markets today, including… Read More »
Bi-Weekly Geopolitical Report – The Bessent Gambit (March 24, 2025)
by Bill O’Grady | PDF Before the election, there was a sense developing that suggested a major shift in how the US manages the global financial system. This vibe was described as the “Mar-a-Lago Accord,” suggesting the changes were similar in magnitude to historic events such as the Bretton Woods Agreement, Nixon’s closure of the… Read More »
Daily Comment (March 24, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with new indications that the Trump administration’s “reciprocal” tariffs to be announced on April 2 could be narrower than expected. The news is giving a significant boost to US stocks so far this morning. We next review several… Read More »
Daily Comment (March 21, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Good morning! Markets are looking for clues on consumer sentiment, as tariff uncertainty impacts demand projections. In sports, the NCAA tournament’s low rate of perfect brackets (1.65%) highlights its unpredictable nature. Today’s Comment will cover Europe’s NATO contingency plans, US critical minerals… Read More »
Daily Comment (March 20, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Good morning! The market is currently processing the latest decision from the Federal Reserve. In sports news, Duke University is bound to let college basketball fans down again in the NCAA Men’s Basketball Tournament this year — whether they win or lose.… Read More »
Daily Comment (March 19, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Good morning! The market is currently awaiting the Fed’s rate decision later today. In sports news, Putin and Trump have expressed an openness to organizing hockey games between teams from their respective countries. Today’s Comment will cover our expectations for the latest… Read More »
Daily Comment (March 18, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with a couple of notes on Japanese monetary policy and the Japanese stock market. We next review several other international and US developments with the potential to affect the financial markets today, including signs that the European Union… Read More »
Daily Comment (March 17, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with a note on the Russia-Ukraine war, where Kyiv’s forces appear to be on the brink of losing their toehold in the Russian territory of Kursk ahead of planned peace talks. We next review several other international and… Read More »
Asset Allocation Bi-Weekly – Equities as an Inflation Hedge? (March 17, 2025)
by Daniel Ortwerth, CFA | PDF A time-honored belief holds that inflation is bad for stocks, but recent developments may be challenging this view. In this report, we step through the traditional narrative, review certain recent developments, and consider what might have changed in the relationship between inflation and stocks. Ultimately, we might be entering… Read More »