Investment Commentary – October 27, 2025
Executive Summary Investors are gearing up for a pivotal week, as Big Tech earnings and an expected U.S. interest rate cut could set the country’s economic trajectory for the rest of the year. A cooler than expected inflation report on Friday sent stocks to fresh highs as traders bet the Federal Reserve will trim the cost of borrowing […]
Economic Commentary – October 27, 2025
It’s back to Trump Time, it’s Trade Time, All The Time. A successful tour of Asia to negotiate favorable trade deals would go a long way toward easing the concerns of the Federal Reserve — and the US business community — about the negative impacts on economic growth from trade confrontation. There is also the issue […]
Five Charts for the Week That Was: October 24, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including home insurance, rare earths, credit card delinquencies, gold, and apartment rent.
Investment Commentary – October 20, 2025
Equities The S&P 500 returned 1.1% for the week amid continued optimism around AI, a strong start to the earnings season, from large banks, and increasing hopes for further rate cuts from the Fed. Markets looked past trade tensions with China and emerging credit issues at regional banks as Fed Chair Powell signaled that the […]
Wealth Planning Commentary – October 20, 2025
Medicare Open Enrollment: Rising Costs and New Restrictions Medicare open enrollment for 2026 runs through December 7, and several important changes are on the horizon. Many participants will likely face higher premiums, reduced benefits, and more restrictive provider networks. The baseline Part B premium is expected to rise from $185 to $206 a month, representing […]
Quarterly Letter: The Political Limits of Growth
By Avi Deutsch October 10, 2025 – As I write this, the U.S. government remains shut down as Congress once again fails to agree on a path to keep the government funded. Government shutdowns have been a feature of American politics since the 1980s, but they have been increasing in frequency and length. The last […]
Wealth Planning Commentary – October 6, 2025
Year-End Wealth Planning Guide (2025–2026) As we approach the end of 2025, we would like to bring to your attention several important year-end planning considerations and deadlines. The following sections outline key strategies and timelines related to retirement accounts, gifting, and tax filing considerations. Planning Considerations for the End of the Year 1. Tax Brackets, […]
Investment Commentary – October 6, 2025
Executive Summary Equity Markets Risk On Last week, global equity funds experienced the best week of inflows in nearly a year, led by U.S. technology and financial stocks. The third quarter was strong across both risk- and risk-control portfolios, with global equities gaining over 8%. In the U.S., small caps gained over 12% for the […]
Economic Commentary – October 6, 2025
The US Government Shutdown continues, swamping most of the other economic storylines. However, the ADP employment report from last week, showing 32,000 jobs lost in September (excluding any federal employment job losses, which are not counted by ADP), continues to reverberate. Whether a result of undeniable negative signals coming from job markets or of elected officials […]
Five Charts for the Week That Was: October 3, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including US consumer sentiment, vehicle sales, US agriculture, oil prices, and private sector jobs.
September 2025 Recap
Economic Commentary Special Note: As of this writing, the federal government has shut down due to the expiration of government appropriations. While the length of the shutdown remains uncertain, we would note that historically, financial markets have shrugged off government shutdowns. September’s data reinforced the market’s Goldilocks narrative, underscoring why equities continue to advance. Inflation aligned […]
Economic Commentary – September 29 2025
It will be quite some time before the most significant effects of a less restrictive monetary policy become apparent. New home sales, for example, have already picked up as lower mortgage rates have combined with builder incentives to lower purchase prices, yet the far-larger market for existing home sales remains constrained by high price points. Car […]