Research & News
Asset Allocation Bi-Weekly – When the Financial System Finds a Cockroach (November 3, 2025)
by Thomas Wash | PDF No one likes finding a cockroach, especially in a place that should be clean, like the financial system. Last month, JPMorgan CEO Jamie Dimon issued a warning, suggesting that isolated loan failures — the “cockroaches” — are pointing to a much broader credit risk problem. He specifically flagged risky loan… Read More »
Daily Comment (October 31, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with an examination of the US push for a digital free-trade economy. We then assess the ongoing government shutdown and its implications. Further coverage includes the Senate’s movement on tariff-repeal bills, the role of corporate earnings in bolstering tech… Read More »
Daily Comment (October 30, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with our key takeaways from the October 28-29 FOMC meeting. We then assess concerns over elevated tech spending and explain why it is unlikely to derail near-term sector momentum. Additional analysis covers the newly agreed US-China trade truce and… Read More »
Daily Comment (October 29, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with our analysis of why the Federal Reserve’s balance sheet may now be more critical than its rate decision. We then examine the surge in tech deals as a potential signal of a longer-term trend. Additional topics will include… Read More »
Daily Comment (October 28, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with a few notes on the recent pullback in global gold prices. We next review several other international and US developments with the potential to affect the financial markets today, including two new deals in the red-hot areas… Read More »
Bi-Weekly Geopolitical Report – China’s Rising Power and the Implications for US Hegemony (October 27, 2025)
by Patrick Fearon-Hernandez, CFA | PDF In a recent report, we noted that the world is now transitioning away from its 30-year era of Globalization, when the United States mostly embraced its traditional role as global hegemon, i.e., the big, dominant country that provides international security, ensures relative order, and issues the reserve currency. Our… Read More »
Daily Comment (October 27, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with news that US and Chinese officials have struck a “framework” trade deal that President Trump and General Secretary Xi can approve when they meet later this week. Since the deal should help ease US-Chinese tensions, the news… Read More »
Daily Comment (October 24, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with a discussion about the deepening trade dispute between the US and Canada. Then, we break down what’s at stake as the US and China head back to the negotiating table. Also in today’s report: Washington’s push to maintain… Read More »