Investment Commentary – May 27, 2025
Executive Summary Equities, bonds and the dollar all retreated last week amid renewed focus on the U.S. budget deficit and rising debt. Fresh tariff threats were also a reminder that trade developments remain, as evidenced by the equity markets’ decline and recovery in response to the threat and “kick the can” headlines related to European […]
Five Charts (and a Bonus) for the Week That Was: May 23, 2025
Chief Economist Jeanette Garretty provides 5 (and a bonus) economic charts covering topics including federal debt, the bond market, long-term treasury yields, household debt, and US labor markets.
Navigating the Markets and Building Wealth Webinar
May 21, 2025 – Managing Director Shawn Wallace hosts Managing Directors Derek Scarth and Josh Freedman and Head of Wealth Planning Mallon FitzPatrick to discuss the markets as well as provide wealth planning tips to help secure your financial future.
Market Note: Mixed Signals Amid Policy Uncertainty
May 21, 2025 – There are good reasons to be confused about the current state of the U.S. economy. These past weeks have seen a slew of economic data telling very different stories. Simultaneously, the pace of change in the markets has only been surpassed by the speed of developments in government policy, leaving many […]
Five Charts For The Week That Was: May 9, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including US Jobs Numbers, container freight rates, US Dollar, and US Exports to China.
FOMC Commentary – May 7, 2025
No surprises in the official announcement: The Fed leaves interest rates unchanged and stands ready to respond if economic conditions demand, which they do not yet. With employment growth still strong and inflation trends calm enough to claim a continued movement towards the all-important 2% target, there was no reason for the Federal Open Market Committee […]
April Recap: Rising Policy Uncertainty Leads to Increased Market Volatility
Monthly Market Summary Markets Rebound from an Early-Month Selloff as Trade Tensions Ease Stocks declined in early April after the White House unveiled sweeping tariffs, with the S&P 500 falling over -10% in the first week. However, after the administration paused tariffs and trade tensions eased, the S&P 500 rebounded to finish the month with […]
Economic Commentary – May 5, 2025
A recent meeting with a Pentagon officer yielded a phrase that he surely would be amused to see deployed to economic thinking: “Fog and Friction.” The conventional application of the term is to the battlefield, and refers to the difficulty of gathering relevant intelligence (fog) to build a strategy, accompanied by the challenge of tactical execution […]
Investment Commentary – May 5, 2025
Equities The S&P 500 returned +2.9% to complete a stunning rebound and recover all losses since “Liberation Day” (April 2). News of increased diplomacy with China on trade, and a jobs report that showed a labor market that is cooling but resilient, calmed markets. While the GDP report showed that the economy contracted in the […]
April 2025 Recap
The Economy Economic data in April continued to take a backseat to government policy. The second Trump administration’s agenda of increasing tariffs, restructuring the federal government through DOGE, and tightening immigration led to the most volatile market since the early days of COVID. Tariffs could eventually lead to higher prices for everyday items, and tighter […]
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Five Charts For The Week That Was: April 28, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including global growth, tax revenues, and real estate.