U.S. Fixed Income: Q2 2025 Update
Despite the relative calm in markets, Q2 2025 was undeniably a roller coaster. The quarter opened with volatility fueled by “Liberation Day” tariffs and closed on a more composed financial note—though uncertainty around international trade policy remains unresolved.
Poised for Lift-Off or Facing Turbulence: Q2 2025 Systematic Global Equities Update
As we enter the second half of 2025, the next six months are expected to be defined by a slowing global economy, tariff uncertainty, and market volatility.
The Price of Distrust: How Much Downside Could There Be in U.S. Equities?
For the past 15 years, global investors’ default positioning was to hold U.S. Dollars as the most obvious choice of non-domestic currencies (and maybe most obvious overall choice) and when investing outside their own equity markets, to look first to the U.S.
Have EAFE Banks Become the New “Favorite” for Growth Managers?
Non-US banks in developed markets (“EAFE banks”) have quietly emerged as the top-outperforming segments in global equity markets over the past three years (through Q1 2025). This paper explores the fundamental development of EAFE banks over the past decade, dissecting by European and Japanese entities.
A Macroeconomic Perspective: Reserve Currency Status and Persistent Trade Deficits
Nations whose currencies serve as global reserve currencies enjoy unique benefits but also face structural challenges.
There’s a Pony in Here Somewhere: Q1 2025 Fixed Income Update
As we enter the second quarter of 2025, there is much to consider for fixed income markets and the broader economy.