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Market Leadership Broadens as Rotation Continues

Executive Summary  The S&P 500 Index declined -0.8% in February, but the headline masked broad underlying strength. The equal-weighted S&P 500 gained +3.5%, Large Cap Value rose +2.6%, and the

Weekly Economic Commentary

The extremely valid question regarding the impact of war in the Middle East on the global economy simply cannot be well-answered at this time. Several immediate areas of concern are clear — oil and

AI Disruption Pauses While the US Economy Remains Resilient

Executive Summary  Last week, the S&P 500 returned +1.0%.  Markets continued to be whipsawed as traders assess the impact of AI across a number of industries; oil rose and perceived inflation risks kept

Weekly Economic Commentary

“Head-spinning” is the word for the week. The Supreme Court rejection of many (not all) of President Trump’s tariffs served to sweep under the rug an almost embarrassing scramble to
California Billionaire Tax Debate: Wealth Taxes May Be Coming

California Billionaire Tax Debate: Wealth Taxes May Be Coming

In recent news, Mark Zuckerberg is joining the California exodus of ultra-wealthy taxpayers and purchasing a home in Florida. The catalyst is California’s proposed 2026 Billionaire Tax Act, a ballot initiative that would

Weekly Economic Commentary

Although data released this week will largely be for the end of 2025, the data will serve to flesh out the picture hinted at by the Nonfarm Employment and Consumer