Recent Updates
26 February
A Choppy Start
Quick Take: Stocks finished January higher in a topsy-turvy start to the year amid volatility in the technology sector.[1] Bond yields declined (prices higher) but remain elevated.[2] Stocks rose to kick off the year, despite a tech sell-off sparked by China’s advances in artificial intelligence (from startup DeepSeek), followed by tariff announcements. [3] Just […]
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22 January
Profit Taking Finishes the Year
Quick Take: Stocks and bonds fell in December after the Federal Reserve projected fewer rate cuts in 2025 than markets had been expecting.[1] Equities finished a strong year with a whimper, as the S&P 500 fell 2.5% in December — the worst monthly loss since April. [2] This was just after stocks had just […]
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24 December
Stocks Deliver Best Month of the Year
Quick Take: Post-election optimism led stocks to hit record highs to close November, while Treasury bond yields ultimately settled lower (prices up) after some volatility. [1],[2] Stocks surged in November, posting their largest monthly gains of the year, as the removal of election uncertainty set off a powerful market rally.[3] The euphoria sent the S&P […]
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27 November
Giving Back Minor Gains
Quick Take: Stocks erased early gains in October to finish lower on the month amid tech weakness.[1] Bond yields surged (prices went lower) following strong economic data. [2] Stocks lost ground in October, with the S&P 500 declining 1% to snap a five-month winning streak in equities.[3] October was shaping up to be another […]
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30 October
Rate Cuts Kick Off Continued Record Highs
Quick Take: As the Fed delivered a surprising 50bps rate cut, stocks reached new heights again while bonds rallied.[1] Expectations headed into September for market returns were somewhat low, in part because of historical seasonal underperformance.[2] Just a week before the September meeting, investors overwhelmingly expected the Federal Reserve (the Fed) to cut rates […]
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12 September
Forward March
Quick Take: Stocks overcame early volatility in the month to notch a fourth consecutive month of gains.[1] Bonds advanced after the Federal Reserve Chairman Powell endorsed imminent rate cuts. [2] US stocks made modest gains in August, after a volatile month saw a series of positive economic data reports override concerns over the […]
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21 August
Roaring First Half Gives Way to Tech Stumble
Quick Take: Stocks and bonds continued their upward trend in June, bolstered by mega technology companies and continued signs of cooling inflationary pressure.[1] Disappointing earnings led to a tech selloff in July, while the market now expects the first rate cuts in September.[2],[3] The summer kicked off in high gear, setting records. The US […]
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28 June
Thoughts From Our Founder: A Bright Future Awaits
As commencement season is in full swing, it’s a great time to celebrate and reflect on the many achievements of our graduating kids, grandkids and other loved ones. On a personal note, my wife Shari and I recently celebrated the graduations of our oldest daughter Alexa from Berkeley Law and our son Jonathan from Wash […]
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28 June
Full Steam Ahead
Quick Take: Stocks set new highs during May as signs of a slowing economy led bond traders to pull forward expectations of rate cuts.[1] Treasuries had their best month in 2024.[2] Stock market performance broke more records in May, as the S&P 500 gained 4.8% while the tech-heavy Nasdaq added 6.9%.[3] Both indexes posted […]
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24 May
Fading Hopes for Rate Cuts
Quick Take: Lingering inflation weighs on investors.[1] With as little as one rate cut now anticipated for 2024, Treasuries sold off, sending yields higher and stocks lower.[2] As investors focused on disappointing inflation readings, major equity indexes ended a five-month winning streak to move lower in April.[3] By the close of the month, the […]
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25 April
Steady Highs for Spring
Quick Take: Stock markets join interest rates in staying higher for longer as economic strength continues.[1] Back in 2022, the phrase “higher for longer” had a tendency to strike fear in markets. The concern was that interest rates would stay high for too long and squash growth. Now that we seem to be […]
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28 March
Record High Stocks Across the Board
Quick Take: Major stock indices continued to reach all-time highs, as the Nasdaq joined the party.[1] Expectations of fewer rate cuts did little to dampen the rally. February saw the stock market surge again, as the S&P 500 kicked off its best start to the year (S&P 500 +5.2% in February) since 2019.[2] Market […]
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