Trever Christian and John Schwalbach, Partners
Key Observations • September brought broad weakness across financial markets as persistent inflation, the war in Iran, and the Federal Reserve's 25-basis-point rate hike drove Treasury yields sharply higher and pressured both stocks and bonds. [...]
The first half of 2026 has been a reminder that investing is rarely about certainty—it's about preparation. Markets have experienced periods of optimism, volatility, and shifting leadership as investors have navigated inflation concerns, evolving Federal [...]
SpaceX IPO highlights the power of the AI narrative, while a growing pipeline of new issuance may reduce a long-Standing technical tailwind for U.S. equities. Key Observations June offered a constructive test of portfolio diversification. [...]
Kevin Warsh assumes the role of Fed Chair with growth and inflation trending in opposite directions June 2026 Key Observations Global equities continued to push higher in May, bolstered by strong Q1 corporate earnings and [...]
Earnings Power Strong Q1 earnings fuel global rally and reinforce the case for diversification April 2026 Key Observations Global equities rebounded sharply in April. Strong Q1 corporate earnings, led by mega-cap technology, restored investor confidence after [...]
Global Artery Remains Closed March hands back the quarter's gains as the Strait of Hormuz stays shut and inflation anxiety returns April 2026 Key Observations In March Markets gave up much of the gains they [...]
Disruption from AI paves way for assets outside of U.S. large cap Key Observations Global markets started the year strong and were broadly positive across asset classes in January. Concerns of potential disruption from new [...]
The Discipline Dividend: Capturing Opportunity and Managing Risk in an AI-Driven Market Key Observations Tempered return outlook: Our 2026 Capital Market Assumptions point to a tempered outlook as higher valuations and softer yields reduce return [...]
What the recent commotion in markets reveals about the underlying cycle. Key Observations After a brisk rally in October, November saw muted returns across most asset classes. Policy participants have expressed sharply divergent views on [...]
