Insights
Providing data-driven investment research that cuts through the noise to deliver impactful guidance
Recent Market Insights
July 2026 - Q2 In Review: If It Aint Broke
Markets have come a long way in a short period of time. Just three months ago, investors were debating whether geopolitical risks and higher inflation would derail the expansion. Instead, the S&P 500 Index posted its best quarter since 2020 as improving economic data, resilient corporate earnings, and continued enthusiasm surrounding Artificial Intelligence pushed equities to new highs.
June 2026 - Rational Exuberance
The S&P 500 rose more than 5% in May, following double-digit gains in April. This continues to be one of the strongest rebounds in modern history, fueled by surging earnings and renewed optimism around the Artificial Intelligence buildout. We see momentum pushing markets higher, through rising inflation and continued geopolitical uncertainty.
May 2026 - Through Thick and Thin
At the start of last month, we highlighted that we had become more positive on the near-term outlook for equities. Little did we know, the S&P 500 would stage one of its fastest rebounds in history. It posted a 10.5% gain in April, its best month since 2020. We also reiterated our overweight to Emerging Market Equities, which were again the best-performing region with roughly a 15% return.
April 2026 - Q1 in Review: Fog of War
Just over a month into the conflict with Iran, the timing and path of a resolution remains as uncertain as it was when we wrote our last Market Insights. Fortunately, we had positioned client portfolios defensively to start the year, anticipating a selloff. Stocks ended the quarter lower, with the S&P 500 down -4.3%. Bonds did not provide much of a buffer, and even gold was down double digits in March, but commodities rallied 40% in Q1 as measured by the S&P GSCI Index.
March 2026 - from AI to Iran - Navigating Market Disruptions
A confluence of negative events caused the S&P 500 to sell off in February, while “safe havens” like Treasuries and gold rallied. Markets are grappling with a tension: near-term tail risks have risen, and investor positioning has become stretched. At the same time, leading indicators suggest global growth is reaccelerating. That combination suggests vulnerability to a pullback, but also the foundation for the next rally.
February 2026 - All That Glitters Is Not Gold
January continued much as 2025 left off, with every asset class we track finishing the month higher. However, what began as a broad-based rally ended with a sharp reminder of how quickly speculative fervor can unwind. While the headline numbers remain impressive, market action in recent days has reinforced our theme of dispersion – across regions, asset classes, and even within the U.S. economy.