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 future interest rate decisions, leaving investors cautiously optimistic. Leadership rotated toward real assets and commodities, [...]

As the party keeps going, how important are all-time highs?   Key Observations Q3 is on track to deliver a fourth straight quarter of double-digit earnings growth. The Fed’s October rate cut added momentum to already strong 2025 performance. The 0.25% cut was expected, but the tone surprised. Hawkish dissent [...]

  Medicare Changes for 2025 If you are 65 or older, you may have already heard about the major disruptions coming to Medicare Advantage plans in Minnesota for 2025. These changes will impact many retirees and their access to doctors, hospitals, and benefits. What’s Changing UCare will be terminating all [...]

A New Approach to Long-Term Care — And How Business Owners Can Make It Tax Efficient Long-term care (LTC) refers to the support people need when they can no longer perform everyday tasks on their own due to chronic illness, disability, or cognitive decline. This type of care isn’t typically [...]

July Market Review: Calm Above, Currents Below Strong earnings season and resilient economy gives way to weak July employment report. Key Observations Markets were mixed in July as equities delivered modest positive returns amidst a favorable earnings backdrop and resilient economic data. Clarity around trade policy ahead of the August [...]

Markets blaze ahead Key Observations Markets Advance in June – Despite geopolitical tensions and mixed policy signals, stocks powered higher with technology and industrials leading performance while small caps lagged. International Leads the Year – Robust local performance and a weakening U.S. dollar has buoyed returns in markets abroad. When [...]

A brief review of Fed Independence Key Observations Markets Warm with the Weather – May brought a more constructive tone as trade tensions eased, lifting sentiment and encouraging a rebound in risk assets. Fixed Income Buyers Remain Cold – While equities priced in potential fiscal stimulus, bond markets focused on [...]

Trade policy shockwaves are just beginning to reverberate Key Observations Tariff Escalation Raises Recession Risk – U.S. tariffs, despite a temporary pause, have intensified global trade tensions. Without policy offsets, the economic drag increases the likelihood of recession. Markets briefly rallied on tariff delays but remain vulnerable to policy uncertainty. [...]

Investors rotate toward certainty as President Trump seeks to reshape the economy Key Observations S. Equity Selloff – The S&P 500 fell -5.6% in March and -4.3% for the quarter, its worst since 2022, as stretched valuations and concentrated leadership fueled volatility. Mag Drag – Despite 61% of securities posting [...]