Q4 2025 Commentary
As we wrapped up 2025, markets delivered another strong quarter and capped off a year of solid returns. At the same time, the fourth quarter offered a useful reminder that headline performance rarely tells the whole story. Under the surface, leadership narrowed, volatility came in shorter bursts, and fundamentals, rather than narratives, mattered most. U.S. […]
Volatility Picks Up, But No Warning Signals Yet – February 13, 2026
Good morning, Week by week, volatility has been edging higher. We’re seeing more frequent 1–2% swings in both directions across the major indices — a noticeable change from the steadier tone that characterized much of last year. Yesterday, U.S. equities tumbled as the tech-led selloff deepened. The S&P 500 fell -1.6%, while the Nasdaq and […]