Tariff Deadlines, Data Drops, and the Madness of Crowds – July 14, 2025
Good morning, Market volatility remained muted last week, largely because the White House extended the 90-day tariff pause—originally set to expire last Wednesday, July 9—to August 1. That delay delivered the quote of the week: when asked, President Trump said the new deadline was “firm, but not 100% firm,” depending on negotiations. Is it any wonder the […]
Economic Commentary – July 14, 2025
July doesn’t feel much like the summer doldrums yet. Tariff threats are flying, bilateral deals are being hammered out (we hope, albeit with minimal details), and economist Kevin Hassett is the latest policymaker trying to engineer a Federal Reserve coup. One way to understand the economic policy disarray is to appreciate that wars in Ukraine […]
New OBBBA Income Tax Deductions: Do You Qualify as a High Earner?
Will You Qualify for New Income Tax Deductions? The OBBBA introduces several new above-the-line deductions, which directly reduce adjusted gross income. However, high earners will not be able to claim all of them. Read below to find out if you qualify: From 2025 to 2028, those aged 65 and over can take advantage of a […]
Investment Commentary – July 14, 2025
Executive Summary Last week, there was little difference in performance between large-caps and small-caps, while growth stocks held up modestly better than value. Investors have begun to follow airline earnings announcements as something of a bellwether of consumer strength. Delta Air Lines provided a supportive full-year 2025 earnings outlook—after withdrawing its guidance in the wake […]