Research & News
Daily Comment (February 5, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our perspective on the recent market unwind and the key factors driving it. We then review Treasury Secretary Scott Bessent’s testimony before Congress and the implications for policy and markets. Next, we discuss Vice President JD Vance’s push… Read More »
Daily Comment (February 4, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our perspective on the recent sell-off in tech stocks. We then examine rising tensions between the US and Iran. Next, we address the proposed solutions by homebuilders to improve housing affordability, Texas’s renewed scrutiny of data center projects,… Read More »
Daily Comment (February 3, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with the surprise announcement of a new US-India trade deal, which has given a big boost to Indian stocks and the rupee today. We next review several other international and US developments with the potential to affect the… Read More »
Daily Comment (February 2, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with an update on today’s markets where some asset values are rebounding from their sell-offs late last week, while others have remained weak. We next review several other international and US developments with the potential to affect the financial… Read More »
Asset Allocation Bi-Weekly – The Erosion of Exorbitant Privilege (February 2, 2026)
by Thomas Wash | PDF Japan’s pursuit of aggressive fiscal stimulus has put it in a precarious position. Prime Minister Takaichi has called snap elections for February 8 to leverage her popularity and improve her parliamentary majority to pass a major tax cut plan. The market’s response, however, has been a haunting echo of the… Read More »
Daily Comment (January 30, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with our perspective on the president’s nominee to lead the Federal Reserve. We then outline our views on AI in light of the recent tech sell-off. Next, we cover the eurozone’s economic resilience, the openness of US allies to… Read More »
Daily Comment (January 29, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with an analysis of how the US, in its effort to maintain global influence, continues to pressure China’s allies. We then share our insights on the latest FOMC meeting and its potential implications for monetary policy. Next, we discuss… Read More »
Daily Comment (January 28, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with an analysis of why the US dollar continues its slide against major global currencies. We then provide a briefing on the leading contenders to head the Federal Reserve as the transition from Chair Powell nears. From there, we… Read More »
Asset Allocation Quarterly (First Quarter 2026)
by the Asset Allocation Committee | PDF Recession likelihood is low over our three-year forecast period. Economic growth continues near trend, with policy spurring business investment. Fed policy will lean dovish, supporting risk markets. Inflation likely to remain in the 2.5-3.5% range, above the Fed’s long-term target. Risk markets are expected to enter a rotation… Read More »