For the quarter ending March 31st, 2026. If you’re looking for a clean read on the economy, the answer is surprisingly straightforward: most indicators still look...pretty good. Growth remains intact, the consumer continues to spend, and inflation - at least for now - has settled into a more manageable range. The notable exception? Government finances, where rising interest costs and structural spending continue to quietly erode flexibility. Of course, stability in markets ra

For the quarter ending December 31, 2025. If investors were hoping for a clean handoff from inflation worries to rate relief, this quarter offered a reminder that markets rarely cooperate. Despite the Fed's pivot toward easing late last year, long-term interest rates remain stubbornly higher, reflecting persistent inflation pressures, heavy Treasury issuance, and rising term premiums. In short, the bond market - not the Fed - continues to set the rules. Beneath the surface,

The third quarter was anything but dull. Markets spent much of the summer digesting a cocktail of Fed rate cuts, political drama, and tariff talk that rattled headlines almost as much as they moved prices. On balance, the global economy proved more resilient than many expected, though cracks in the façade remain. In the U.S., growth significantly increased from its earlier hiccup, confounding sceptics. Consumers kept spending - albeit more carefully - as inflation continued

Ignore the noise from D.C., and things are looking surprisingly solid. Yes, Q1 GDP hit a wall, but mostly because businesses and savvy...