Articles

“Despite recent volatility,” Kyle Tetting writes, “we have not seen much change in the long-term fundamental outlook.”

Investors recognized that we can’t always take reports such as DeepSeek’s at face value. I see a bigger issue at play.

2024 largely came in line with what we had expected for a steady but solid economy. And 2025 looks to be more of the same.

Despite 2022 setbacks for nearly every investable asset, three-year returns are above average for broad measures.

As history has proven, “cautious optimism” works. But history is written across years and decades, not three quarters.

“Nuance is important, of course, but we didn’t need to hear Powell’s words to know the Fed was ready to pivot.”