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SLOWING BUT SUSTAINABLE GROWTH The momentum continues under this remarkable recovery, with strong economic growth and profitability that have driven the equity rally. These gains have some investors wondering when the “good times” will end. Global growth is expected to peak at over 6.5% in the...

REDUCING SENSITIVITIES A mid-year slowdown has not yet appeared in the global economy or equity markets. But we have seen a notable drop in interest rates, which is curious in the face of hotter than-expected inflation reports. As shown below, rates have fallen steadily since a...

SEEING THE WHITES OF INFLATION’S EYES Debating whether the Federal Reserve (Fed) will “fire” against oncoming inflation is a fitting analogy as America turns 245. Troops defending Bunker Hill* during the early stages of the American Revolutionary War were told not to fire until they saw...

PASSING THE BATON The stock and bond markets look ahead at least six months, discounting what investors think are the most likely outcomes for growth, inflation and other key inputs. So it is critical to differentiate between what is likely behind us, what is the current...

Our partner Goldman Sachs offers a great overview on ESG investing. Diversity. Climate change. Fair pay. These socially-minded topics (and more) have been on a lot of our minds lately. So it’s perhaps no wonder that they’re also coming up in investing, too. Sometimes referred to...

BOTTLENECKS The long-anticipated jump in U.S. inflation appeared this month, and with a vengeance. Core consumer price inflation increased nearly 3%, double the prior rate, while the month-on-month increase of 0.9% was roughly triple expectations. Prices in reopening-related areas showed the greatest increase, with lodging up...

THE BASE EFFECT Investors are keenly focused on the risk of inflation, as higher bond yields would hurt both stocks and bonds. Over the last week, inflation data came in hotter than expected, yet both bonds and stocks rallied. It looks like our Stuckflation theme —...

By John Bohan 3 Reasons to Consider a Trust.   Let’s talk about trusts. How does the concept work? And most importantly, what is the importance of hiring an objective third party? Below is a high-level summary of this legal vehicle, how it can be a favorable option...

WHAT’S PRICED IN? Investing is a complicated endeavor. Predicting the future is hard enough; understanding what markets have priced in is just as hard – and just as important. Nobel Laureate –and University of Chicago behavioral economics professor – Richard Thaler conducted an interesting study providing...