Research & News
Daily Comment (May 6, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with a discussion of private credit and AI, framed around key takeaways from the Milken Global Conference. We then share our views on the White House’s decision to end Operation Epic Fury. Next, we briefly address the administration’s push… Read More »
Daily Comment (May 5, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with an update on the war in Iran, where renewed military action by the US and Iran yesterday threatens to upset the ongoing ceasefire. We next review several other international and US developments that could affect the financial… Read More »
Bi-Weekly Geopolitical Report – Europe’s Push to Close the AI Gap (May 4, 2026)
by Thomas Wash | PDF The European Union is seeking a place at the starting line of the AI race as it attempts to catch up with the United States and China. According to the latest Competitiveness Report, not a single EU company founded in the past 50 years has organically reached a market capitalization… Read More »
Daily Comment (May 4, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with an update on the war in Iran, where President Trump has announced a new effort to “guide” ships through the Strait of Hormuz and unclog global energy and commodity markets. We next review several other international and… Read More »
Daily Comment (May 1, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with a deep dive into the latest GDP report and its implications for the growth outlook. We then briefly cover President Trump’s new initiative to expand IRA access for low‑income workers, efforts to crack down on international IP theft,… Read More »
Daily Comment (April 30, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our views on Powell’s final meeting as Fed chair. We then examine AI earnings and provide an update on developments in Iran. Next, we briefly discuss the prospect of Japanese intervention in currency markets and the possibility that… Read More »
Daily Comment (April 29, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with an analysis of the UAE’s OPEC exit and its implications for the cartel. We then examine King Charles’s White House visit and what it signals for the US-UK relationship. Next, we discuss the unexpected rise in consumer confidence,… Read More »
Asset Allocation Quarterly (Second Quarter 2026)
by the Asset Allocation Committee | PDF Recession likelihood is low over our three-year forecast period. Base case expects GDP growth near historical trend, with elevated tail risks widening the range of outcomes. Higher energy prices are likely to keep inflation elevated for longer. The Middle East conflict encourages overweights to energy, industrials, defense stocks,… Read More »
Daily Comment (April 28, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with a short update on the war in Iran. We next review several other international and US developments with the potential to affect the financial markets today, including a decision by the Bank of Japan to hold its… Read More »
Daily Comment (April 27, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with a quick update on the weekend shooting at the White House Correspondents’ dinner and on the war in Iran. We next review several other international and US developments with the potential to affect the financial markets today,… Read More »