​This commentary was prepared for clients on October 5, 2026.   Stock prices marked time this quarter as investors adjusted to competing economic forces. The choppy quarter...

​This commentary was prepared for clients on July 2, 2026.   The second quarter ended very differently than it began. When we last wrote in April, markets were wrestling...

​The year began on a strong footing for financial markets, but that changed quickly as February came to a close with the sudden onset of military action involving Iran.  As one...

​Happy New Year! While 2025 delivered positive total returns for major U.S. stock markets, the path to those gains was marked by significant market volatility. A new presidential...

After a volatile first half of the year, market gains accelerated in the third quarter. Encouragingly, the recent advance unfolded with a welcome steadiness and a more stable...

The second quarter of 2025 brought a wave of global upheaval and domestic political tension, which unnerved investors. Despite market volatility, major indexes finished the first...

Stock prices faced headwinds in the first quarter, marked by heightened volatility. Sharp market swings were largely driven by uncertainty surrounding the new administration’s...

Congratulations! Client portfolios generally experienced strong gains with relatively low volatility throughout most of 2024.  However, an unusually weak December puts a damper...