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Investment Commentary – April 28, 2025

Executive Summary The “soft” negative survey data has yet to show up in the “hard” economic data. The U.S. Market preliminary manufacturing PMI came in above estimates at 50.7. The

Investment Commentary – April 21, 2025

Executive Summary Last week was another round of “headline roulette” where Trump claimed a trade deal with the EU was imminent (though he provided no details or timeline); Trump was

Investment Commentary – April 14, 2025

Executive Summary A few themes jumped out to us last week including softer inflation readings and encouraging bank earnings season reports and guidance. The parts of the consumer price index

Investment Commentary – April 7, 2025

Executive Summary Corporates and consumers have become more conservative recently based on recent data, which has yet to reflect the full impact of the recent Tariff Tax Turmoil. The good

Investment Commentary – March 31, 2025

Executive Summary Last week, stocks declined, and bonds rallied as fresh signs of economic weakness and renewed inflation fears disturbed markets. The S&P 500’s closed down 4.4% over the quarter.

Investment Commentary – March 24, 2025

What Happened US equity markets finished the week up after four consecutive weeks of negative returns. Markets were focused on the Fed’s Summary of Economic Projections, which showed that the

Investment Commentary – March 17, 2025

What Happened The S&P 500 fell into “correction” territory (a drop of 10% from a recent peak) as markets continue to worry that uncertainties and potential inflation due to tariffs

Investment Commentary – March 10, 2025

Equities The S&P 500 returned -3.1% as uncertainty over tariffs and weak economic data roiled markets. The U.S. dollar saw its longest losing streak since last September, ending the weak

Investment Commentary – March 3, 2025

Equities The S&P 500 returned -1.0%; the damage would have been worse if not for a 1.6% window-dressing rally in the final two hours of month-end trading. The NASDAQ dropped

Investment Commentary – February 24, 2025

Executive Summary The S&P 500 hovered near its all-time highs, while the bond market ended the week with gains (price up / Yield down) as weaker-than-expected retail sales rekindled hopes