Research & News
Asset Allocation Bi-Weekly – Stopping the Bond Vigilante: How Fiscal Dominance Is Reshaping Global Markets (September 22, 2025)
by Thomas Wash | PDF The bond bull market that began in the early 1980s lasted nearly four decades. Its longevity was largely built on the assumption that governments would always prioritize the health of their bond markets, even if it meant imposing economic pain on their own countries. This thinking fostered the legend of… Read More »
Daily Comment (September 19, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with an analysis of discrepancies in the weekly jobs data. We then examine the potential implications for US-China relations as the United States signals a desire to re-engage in the Middle East. Additional topics include a new fund for… Read More »
Daily Comment (September 18, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with thoughts on the Fed’s latest rate decision. We then explore why Nvidia’s investment in Intel may reflect a broader US tech policy. Additional topics include progress in easing US-China trade tensions, a new EU sanctions proposal against Russia,… Read More »
Daily Comment (September 17, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with what to expect from the FOMC meeting and its market implications. We then examine China’s ban on NVIDIA chips and its potential ripple effects across the global tech sector. Further topics include progress in US-UK trade talks, the… Read More »
Daily Comment (September 16, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with news of a US-China deal that would allow Chinese social media app TikTok to keep operating in the US, although virtually no details have been released. We next review several other international and US developments with the… Read More »
Bi-Weekly Geopolitical Report – The Great AI Race: A Sputnik Moment for the 21st Century (September 15, 2025)
by Thomas Wash | PDF On his first full day in office, President Trump convened a group of prominent tech leaders in what he characterized as an effort to secure the United States’ technological future. This meeting launched the largest artificial intelligence infrastructure initiative in US history, named Stargate Project. The strategy forged a major… Read More »
Daily Comment (September 15, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with key news on the US-China and US-Russia relationships that could affect US technology companies and global energy supplies. We next review several other international and US developments with the potential to affect the financial markets today, including… Read More »
Daily Comment (September 12, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment begins with an analysis of OpenAI’s pivotal shift from a non-profit structure and its broader implications for the AI sector rally. We then explore the market’s optimistic anticipation of potential rate cuts at the upcoming Federal Reserve meeting. Our discussion… Read More »