Research & News
Asset Allocation Bi-Weekly – White House vs. The Fed: The Looming Battle for US Monetary Policy (May 19, 2025)
by Thomas Wash | PDF The Federal Reserve’s independence faces its most serious challenge in decades as the Trump White House escalates its criticism of central bank policy. This brewing confrontation echoes historic tensions — most notably the 1951 clash between President Truman and Fed policymakers over yield caps that ultimately led to the Treasury-Fed… Read More »
Daily Comment (May 16, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Good morning! Markets are closely tracking the president’s latest trade announcement. In sports, the Carolina Hurricanes secured a victory against the Washington Capitals, advancing to the Eastern Conference Finals. Today’s Comment will discuss the administration’s recalibrating of its trade strategy, Friday’s stronger-than-expected… Read More »
Daily Comment (May 15, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Good morning! The market is currently focused on analyzing the latest slew of economic data. In sports news, fans are celebrating as the Minnesota Timberwolves secured their spot in the NBA Western Conference Finals. In today’s Comment, we’ll examine the sources of… Read More »
Daily Comment (May 14, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Good morning! Financial markets are still in a good mood following the latest deals from the Trump administration. In sports news, fans are celebrating the Indiana Pacers’ victory over the Cleveland Cavaliers that secured their spot in the Eastern Conference Finals. Today’s… Read More »
Daily Comment (May 13, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with an added US concession in the tariff war between Washington and Beijing, which will likely help de-escalate tensions between the two sides. We next review several other international and US developments that could affect the financial markets… Read More »
Bi-Weekly Geopolitical Report – Update on the US-China Military Balance of Power (May 12, 2025)
by Daniel Ortwerth, CFA | PDF In early 2021, we published a series of reports assessing the overall balance of power between the United States and China in military, economic, and diplomatic terms. In early 2023, we provided an update to our analysis. The current report is the next in what we intend to be… Read More »
Daily Comment (May 12, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with an overview of the interim US-China trade deal announced earlier today. News of the deal has been reflected in surging values for all manner of risk assets around the world, but we also note a few words… Read More »
Daily Comment (May 9, 2025)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Good morning! Markets are digesting the latest trade developments this morning. In sports news, the Edmonton Oilers secured a commanding 2-0 series lead against the Vegas Golden Knights. Today’s Comment will focus on the UK’s positioning in trade negotiations with the US… Read More »