Concerns over accelerating inflation persisted throughout 2025. However, these anxieties were unwarranted as wage and price increases slowed in response to eight influential factors that also suggest that last year’s disinflation will persist in 2026.
The Fed meets on Wednesday to discuss the direction of monetary policy. With the futures market pricing the odds of “no change in rates” at 97.2%, no one should expect a rate cut at this meeting…or, we think, anytime soon.
Each year on January 28, Data Privacy Day underscores the global imperative to protect personal information in an increasingly digital environment. For high-net-worth (HNW) and ultra-high-net-worth (UHNW) families, this responsibility carries exponential weight.
This process is not about predicting the future or timing the market. Instead, it is about placing today’s prices into proper perspective using sound valuation principles. That discipline forms the foundation of learning how to analyze a stock before buying and is essential for long-term investment success.
Recently, stock market numbness closes the trading day. No wholesale crash, just a little wobbling for now with positive numbers for half of January. But I have a sense it’s in need of a cane to steady its momentum.
Markets, interestingly enough, felt their own version of a “deep freeze” this week. Geopolitical flare-ups, fresh tariff threats and a mini-meltdown in Japan’s bond market briefly rattled investors and pushed volatility sharply higher.
The key point is that nothing in the incoming data since December has undermined the Fed’s prior message. The economy remains strong, jobless claims are hovering near 200,000, and recession fears continue to recede.
It is critical to understand that 2026 will not deliver certainty. Instead, investors should focus and make decisions based on probabilities backed by data, earnings trends, policy shifts, and macro signals.
Today we continue anticipating 2026, this time shifting for the first part of the letter from economic issues to geopolitics before making some of my personal general forecasts.
The Bank of Japan’s recent policy shift is sending shockwaves through global markets. Headlines this week highlight the dollar’s tumble against the yen and renewed chatter of an unwind to the massive yen carry trade, estimated at over $500 billion.
The OBBBA brings 10 tax changes for 2026. Some provisions benefit taxpayers while others impose new restrictions. Our Bill Cass shares the highlights.
As seen in a How to Find Pure Play Approaches to Drone Technology webinar, a lot goes on behind the scenes when building an exchange-traded fund (ETF) — in this case, the REX Drone ETF (DRNZ).
The importance of biodiversity as a nature-related risk in investors’ portfolios has become better understood in the past few years. Investors are beginning to appreciate how complex and nuanced biodiversity risk can be.
Silver has rallied sharply over the past six months, outperforming many major asset classes and even gold. While geopolitical risk, easing monetary conditions, and inflation-related demand have supported precious metals broadly, silver’s move has been especially pronounced—bringing both its drivers and potential constraints into focus.
In 2025, despite representing just over 10% of ETF assets, actively managed ETFs gathered nearly one-third of all ETF inflows. Investors increasingly turned to discretionary active equity and fixed income ETFs and not just index-based ETFs. That has persisted thus far in 2026, with active ETFs gathering 37% of new money.
Equity markets have delivered strong returns in recent years, leaving many investors with substantial unrealized gains across their portfolios. Let’s consider how a tax-managed long-short strategy could be a powerful tool in the pursuit of tax efficiency—for the right investor.
Ultra-affluent families face risks that differ significantly from those of the general population. Complex structures, such as multiple entities, trusts, K-1s, and investment partnerships, create more opportunities for sensitive information to be shared across advisors and custodians. Large refunds and tax payments represent enticing entry points for criminals.
While our outlook for the municipal bond market in 2026 is positive overall, we have identified five risks that we believe should be on investors' radar.
The real hero of the late-week recovery was the Information Technology sector. Despite a jarring 16% slide from Intel (INTC) following a tepid outlook shared on their Q4 2025 earnings call, the broader semiconductor space and "Magnificent Seven" megacaps provided the necessary ballast.
Long trips rarely end at the airport. We arrive, but our internal clocks lag behind; the first day back is spent acclimating to the new landscape. The global economy enters 2026 in much the same way. Shifting rules of commerce, political stoppages and patchy data have left decision makers disoriented.
LPL Research explores the drivers behind the rally in metals, the associated risks, and the outlook for their durability.
The U.S. economy continues to display a complex mix of resilience and persistence. As markets brace for next week’s FOMC meeting, this snapshot breaks down the latest shifts in GDP, inflation, and consumer behavior.
Pave Finance, Inc. (“Pave”), the next-generation wealth management platform, has today announced its integration with Fidelity, one of the world’s largest registered investment advisory custodians and retail brokerage firms.
The rise of AI follows a fundamentally different competitive logic than earlier technological revolutions. With massive capital requirements, high operating expenses, low switching costs, and intensifying regulatory scrutiny, success will depend less on scale and more on financial resilience and political influence.
Amplify ETFs had an impressive year in 2025, outperforming the broader market in both asset growth rate and performance across its thematic and income-oriented suites.
It was a volatile week in financial markets, largely driven by geopolitical developments. Last weekend, the U.S. administration proposed new tariffs on several European countries linked to tensions around Greenland.
Healthcare stocks were rattled by US policy uncertainty in 2025. But signs of resilience have surfaced as the sector reaffirms its defensive strengths and growth potential, sparking a shift in investor sentiment.
According to what has been announced so far, the government plans to restrict future purchases of single-family homes by large institutional investors. It would not force them to sell homes they already own, nor would it affect individual buyers or small landlords.
As we enter 2026, the U.S. economic momentum continues based on the foundation of a solid private sector with fiscal and monetary policies also contributing to growth. As we refine our global asset allocation, we maintain a diversified overweight stance on U.S. equities despite relatively high valuations.
The dollar is in no danger of losing its status as the primary global reserve currency, but de-dollarization is chipping away at its dominance. It’s clear we’re moving toward a “multipolar” world where several currencies, along with gold, are making up a growing share of global reserves.
Recent acquisition deals highlight asset managers’ race to capture the booming demand for model portfolios and outsourced investment solutions.
Year-end S&P 500 price targets implicitly assume continuity and fail to recognize volatility and macro forces that affect markets throughout any given year.
Economists have company when it comes to being upbeat. The consensus economic outlook has led to optimism from analysts, who are forecasting strong earnings growth.
As we begin 2026, I want to address a sector that experienced one of the most dramatic fundamental disruptions in recent years: managed healthcare. Historically, the largest managed healthcare companies have been among the most consistent earnings growers in the market. However, in 2025, many of these companies “hit a wall,” suffering unprecedented declines in operating earnings.
Janus Henderson Group, a leading global asset manager, today announced it has entered into a definitive agreement to acquire 100% of Richard Bernstein Advisors (“RBA”), a research-driven, macro multi-asset investment manager. The acquisition positions Janus Henderson as a leading model portfolio and separately managed account (SMA) provider.
Financial stress often shows up in the bond market well before it becomes visible elsewhere. Equity markets can remain calm while pressure quietly builds underneath the surface.
The whole world may be talking about AI nonstop right now, but that doesn’t mean other tech segments are falling off. Some are actually outperforming. Blockchain ETF BLOK, for example, has significantly outperformed its ETF Database Category average over the last year.
Investors were thrown another tariff curveball, with the U.S. administration declaring that unless a deal for the U.S. to acquire Greenland can be reached, a 10% tariff will be imposed on eight European countries (Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland) effective Feb. 1.
When investors think about risk in equity portfolios, the usual suspects come to mind: market risk, sector risk or maybe even macroeconomic risk. But lurking beneath the surface is a less obvious, often underestimated threat—style and factor risk.
Each spring, investors in individual publicly traded companies get a chance to voice their opinions as the companies whose stock they own prepare for their annual shareholders’ meetings.
In the investment business, it’s common to address not only what occurred during the past twelve months but also to provide an assessment of future prospects.
LPL Financial LLC announced today that financial advisors Jeffrey J. Wilson, CFP®, and Michael Sadowski, CFP®, of Wilson Peak Wealth Management Inc. have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform and will be leveraging Private Advisor Group’s infrastructure for the next stage of their growth.
Looking ahead to 2026, Franklin Templeton Fixed Income Municipal Bond Director Ben Barber says there are a few key factors that will likely shape the municipal bond market.
With 2025 in the books, it will be a difficult year to top for fixed income exchange-traded funds (ETFs), but Morningstar is predicting more excitement to come. That should keep fixed income investors fixated on what new developments the space brings this year.
Our view from the portfolio management desk is that there seems to be a concurrent affordability crisis in the public stock markets as well. The biggest names appear to be “priced for perfection” at this moment.
2025 will go down as another year of record-breaking achievements for exchange-traded funds (ETFs). Among the past year’s highlights was a record number of mutual funds converting to ETFs, as noted by Ben Johnson, Morningstar Head of Client Solutions, via a LinkedIn post.
U.S. fourth-quarter earnings season began with major banks reporting results that were generally stronger than expected. Most large banks beat earnings forecasts, with many also exceeding revenue expectations, reinforcing our view that the U.S. economy remains in a healthy state.
Investors have reaped the benefits of good market conditions in many of the recent years. These periods are ideal for wealth accumulation.
The key point, in our view, is that this combination of shocks is not likely to be an isolated occurrence in 2026 or beyond.
Despite the broadening-out call in early 2024, narrow market breadth persisted through 2025. In 2025, around one-third of S&P 500 constituents beat the overall Index, but more than 60% are outperforming year to date in 2026.
