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Surviving the Noise: Markets Close the Book on 2025
For week ended 1/3/2026. Welcome to 2026. After a year that felt like playing financial whack-a-mole, investors can officially declare victory. Fires were everywhere, yet portfolios largely survived – and in many cases, thrived. Before we look ahead, though, let’s clean up one last piece of unfinished business from 2025. Yes, the long-delayed GDP report finally arrived. And it was worth the wait. We now know that Q3 GDP grew at a blistering 4.3% annualized rate – the stronges
David Halseth
2 days ago2 min read


Good News! …Well, Maybe.
For the week ended 12/20/25. In a report somewhat distorted by the recent government shutdown, we learned that year-over-year inflation slipped from September’s 3.0% to 2.7% in November. October, apparently, has been lost to the dustbin of history. Still, the number came in below the 3.1% consensus forecast from the economic sages polled by the Wall Street Journal – and that alone was enough to get a few investors reaching for the bubbly. Before we pop the champagne, overindu
David Halseth
Dec 21, 20252 min read


Oops, He Did It Again: Powell Cuts, Inflation Grins
For week ended 12/14/25. “Oops… I did it again.” That may well be what Jerome Powell is muttering under his breath this morning. Much like Britney Spears reflecting on some questionable early- 2000s choices (we’ll skip the music video visuals), the Fed Chair now gets to look back at yet another rate cut delivered in the face of rising inflation indicators. Yes, for the third meeting in a row, the FOMC trimmed the federal funds rate by 25 basis points, bringing the target rang
David Halseth
Dec 15, 20252 min read


From Copper Pipes to Policy Pipes
For week ended, 12/6/25. Here’s a commodity you don’t hear about too often: copper. That reddish-brown, tawny, auburn – or whatever-you-want-to-call-it – metal prized for its electrical and thermal conductivity, not to mention corrosion resistance (hello, plumbing). Well, it’s also become very expensive of late. Copper prices climbed to yet another record last week, topping $11,600 per metric ton, and are now up roughly 32% year-to-date in 2025. Why? According to J.P. Morgan,
David Halseth
Dec 7, 20252 min read
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