Q3 2025 Commentary
As we move into the final quarter of 2025, markets are navigating a complex mix of slowing growth, stubborn inflation, shifting policy, and renewed political uncertainty. The third quarter reinforced that the U.S. economy remains resilient but uneven, with momentum varying sharply across sectors. The government shutdown that began at the start of the new […]
October 2025 Recap
Economic Commentary Last week’s FOMC meeting, the most significant market event in a data-starved month, triggered a brief sell-off in both equity and bond markets; however, we view the overall economic backdrop as steady and gradually improving. As we enter Q4, labor demand remains steady, and consumer spending continues at a pace consistent with ongoing […]
Watching the Data: Growth Holds, Labor Questions Remain
In the aftermath of the Federal Open Market Committee (FOMC) meeting last week, economic numbers available from non-federal government sources will be increasingly scrutinized for confirmation of continued U.S. economic strength. Fed Chairman Powell’s discussion of dissent on the FOMC regarding the future path for interest rates ( or, more accurately, the speed of future interest […]
S&P Gains Mask Underlying Market Exhaustion
Executive Summary Last week, large-capitalization S&P 500 stocks advanced 0.7%, but small stocks lagged. The three material items for the week included broadly positive big tech earnings, the Fed meeting featuring an expected 25 basis point (bps) cut, and the end of quantitative tightening[1] as of 12/1/25, along with a warning that another cut in […]
Building Financial Resilience During Layoffs: A Wealth Planning Guide for High Earners
The recent wave of corporate restructuring and white-collar layoffs – particularly in technology and other high-paying sectors – has reignited an important conversation: how to build true financial resilience. Wealth management often focuses on growth and long-term objectives, but periods of economic transition remind us that preserving flexibility and mitigating risk are equally critical components […]