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The Aptus Blog

Market notes, charts, investment concepts, and timely market updates, directly from our investment team.

2025-07-18 · Market in PicturesThe Market in Pictures, July 18Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from FOMC speculation to inflation brea2025-07-11 · Market UpdatesAptus Musings: Q2 2025 Earnings PreviewPersonally, I feel like tariffs have already started to take a back seat to: 1) Q2 2025 S&P 500 Earnings (i.e., resiliency of corporate America), and 2) Labor Markets2025-07-11 · Market in PicturesThe Market in Pictures, July 11Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from large cap leadership to momentum f2025-07-07 · Market UpdatesIllusion of ControlRisk tolerance is used (a lot) in the wealth management space, and I’m not sure anybody thinks about what they are saying at this point. Here’s the gist of what is usuall2025-07-03 · Market in PicturesThe Market in Pictures, July 3Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from low quality and high quality stock2025-07-01 · Market UpdatesRearview to Windshield, July 2025Market Recap – June 2025: Risk assets were King of the Mountain during June and Q2, as a reversal in sentiment drove stocks higher, bringing the majority of major asset c2025-06-27 · Investment ConceptsReconsidering Core Bonds: Why Treasuries May Be the Smarter Choice TodayIn a prior post, Fixed Income: Coupon is King, we explored the long-term return profile of the Bloomberg U.S. Aggregate Bond Index (the “Agg”). One of the more surprising2025-06-27 · Market in PicturesThe Market in Pictures, June 27Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from market momentum to lack of credit 2025-06-20 · Bonds & RatesJune 2025 FOMCAs expected, the Fed opted to hold interest rates steady for the fourth consecutive meeting in a range of 4.25% to 4.50%. The latest Summary of Economic Projections (SEP)2025-06-20 · Investment ConceptsThe Lakers Sale Was More than a Slam DunkWhen the Buss family announced the sale of the Los Angeles Lakers for $10 billion, headlines and social media lit up. After all, they had purchased the team in 1979 for j2025-06-20 · Market in PicturesThe Market in Pictures, June 20Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from market momentum to earnings, trade2025-06-13 · Market in PicturesThe Market in Pictures, June 13Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from strategist chasing to inflation, e2025-06-10 · Investment ConceptsThe Cost of a “Costless” CollarIn the world of options trading, the term “zero-cost collar” often suggests a strategy that offers downside protection without any costs to the investor. However, while t2025-06-06 · Market in PicturesThe Market in Pictures, June 6Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from rare timing setups and market brea2025-06-03 · Market UpdatesDon’t Hold the BagThere’s noise… so much noise. The headlines, data, and stuff that just don’t matter bombard investors. It’s our own dang fault. The noise only exists because there’s dema2025-06-02 · Market UpdatesRearview to Windshield, June 2025Market Recap – May 2025: To some, it may feel miraculous that the S&P 500 is now positive on the year – which was a new development during the month. March and April 2025-05-30 · Market UpdatesAptus Musings: Q1 2025 Earnings RecapI hope that everyone had a great Memorial Day Weekend! We’ll start with two newsworthy pieces: 1. Now that the “One, Big Beautiful Bill” has passed the House and is on it2025-05-30 · Bonds & RatesBreaking Down 10 Year Bond YieldsWhile there is certainly a lot going on in rates markets, it’s been interesting to see participants give more attention to the fiscal backdrop of the US government. It co2025-05-30 · Market in PicturesThe Market in Pictures, May 30Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from earnings and the economy, to inter2025-05-23 · Market in PicturesThe Market in Pictures, May 23Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from rising yields and the economy, to 2025-05-21 · Bonds & RatesMoody’s Downgrade: Should We Care?Last Friday, Moody’s rating agency lowered the US credit rating from Aaa to Aa1 (their version of AA+). Technically, this doesn’t change the US’s overall credit rating be2025-05-19 · Investment ConceptsRethinking Fixed Income: Why Return Matters More Than YieldWhen investors evaluate fixed income strategies, the first question is usually about yield. What’s the income? What’s the payout? That focus is understandable. Yield is e2025-05-16 · Market in PicturesThe Market in Pictures, May 16Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from the market bounce and poor sentime2025-05-15 · Investment ConceptsFrom Oracle to Orange Pill: Is Buffett the New Bitcoin Convert?Warren Buffett has never been shy about his skepticism toward Bitcoin. He’s famously called it “rat poison squared” and dismissed it as a non-productive asset. But at the2025-05-14 · Market UpdatesAptus Musings: The Great International DebateFirst, let’s touch base on Monday’s news: the US and China will temporarily lower tariffs on each other’s products in a move to cool trade tensions and give the world’s t2025-05-09 · Market in PicturesThe Market in Pictures, May 9Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from earnings and hyperscalers to soft 2025-05-08 · Bonds & RatesMay FOMC: A Pause for Thought→ FED SAYS UNCERTAINTY ABOUT OUTLOOK HAS ‘INCREASED FURTHER’ → FED: RISKS OF HIGHER UNEMPLOYMENT, HIGHER INFLATION HAVE RISEN → FED HOLDS BENCHMARK RATE IN 4.25%-4.5% TAR2025-05-05 · Market UpdatesDurability in Divergence = SuccessNo matter your time horizon, higher ending values of an investment portfolio are a good thing. That’s usually the goal. Invested wealth grows through time. It’s our job t2025-05-05 · Market UpdatesRearview to Windshield, May 2025Market Recap – April 2025: The S&P 500 rallied to a one-month high in the last week of the quarter, rising nine straight trading days and recouped virtually all of th2025-05-05 · Investment ConceptsTIPS vs. Treasuries: Real Yield Is Back?For over a decade, Treasury Inflation-Protected Securities (TIPS) offered little appeal—real yields were near zero, and inflation felt like a distant threat. Fast forward2025-05-02 · Market in PicturesThe Market in Pictures, May 2Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from rare timing setups and market brea2025-04-28 · Investment ConceptsWhat Exactly Does the VIX Tell Us?Over the past month, the VIX Index has been making headlines, first spiking, then crashing in dramatic fashion at times just a day apart. While many investors recognize t2025-04-25 · Bonds & RatesAround the Bond Market, April 2025President Trump Critiques the Fed Earlier this week, President Trump indicated he thinks the Fed should be “early, or on time” cutting rates, but not “too late,” adding i2025-04-25 · Market in PicturesThe Market in Pictures, April 25Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from rare timing setups and market brea2025-04-23 · Market UpdatesAptus Musings: Q1 2025 Earnings PreviewI’ve had a lot of inbound calls regarding the markets over the past few weeks, so I’d like to start with some historical perspective. As our quarterly newsletter stated, 2025-04-17 · Investment ConceptsHow Tax Efficiency Can Smooth Returns, Not Just Boost ThemMost discussions about tax efficiency focus on maximizing after tax returns, and for good reason. The math is compelling. Consider a 10% pretax return: at a 33% short ter2025-04-17 · Market in PicturesThe Market in Pictures, April 17Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from the US dollar to bonds to the econ2025-04-11 · Bonds & RatesNo Help From BondsCPI Update: Softer Than Feared The latest inflation report showed that consumer prices cooled more than expected. The CPI fell -0.1% in March, the first monthly decline s2025-04-11 · Market in PicturesThe Market in Pictures, April 11Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from historic market movement to inflat2025-04-04 · Market UpdatesAptus Musings: Perspective in a Noisy WorldAs many of you know, my word for Q1 and Q2 is “Perspective“. Macro news, like what we are seeing with tariffs, can seem and feel overwhelming, but just remember, the mark2025-04-04 · Market in PicturesThe Market in Pictures, April 4Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from the equity market correction to th2025-04-03 · Market UpdatesOwn the Risk, Hedge the TailThe volume of uncertainty has been turned up. The S&P 500 closed the quarter -4.28% after dropping 10% from the highs in mid-February. As Dave points out in our Q1 202025-04-03 · Market UpdatesRearview to Windshield, April 2025Market Recap – March 2025: The first quarter delivered a classic third-year bull market correction, falling 10% from its highs before rebounding and finishing only –4.28%2025-03-28 · Market in PicturesThe Market in Pictures, March 28Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from investor sentiment to the US marke2025-03-27 · Investment ConceptsDisappearing Return: Why a 4.4% Yield Might Barely DeliverFixed-income investors have faced a brutal reality since bond rates bottomed in August 2020. Long-dated Treasuries (20+ years) remain down 40% from their peaks, requiring2025-03-21 · Bonds & RatesFOMC is Waiting for Clarity, TooFed Waiting, Like the Rest of Us The Federal Open Market Committee (FOMC) met this week, deciding to leave the reserve rate unchanged as expected (a unanimous decision am2025-03-21 · Market in PicturesThe Market in Pictures, March 21Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from the US market correction to the ec2025-03-20 · Market UpdatesAptus Musings: Perspective on the Market PullbackCongrats on making it to the best part of the year – March Madness and The Masters. As many readers know, we say that D R S K was the fund that built Aptus. Well, in fact2025-03-14 · Market in PicturesThe Market in Pictures, March 14Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from the US market correction to invest2025-03-11 · Investment ConceptsCan Lower Rates Be Disinflationary?If you ask most people whether increasing the supply of goods over time helps reduce inflation, the overwhelming answer is “yes.” After all, more supply means less scarci2025-03-11 · Market UpdatesMarch 2025 in Stocks: Beyond the HeadlinesGiven the recent market volatility, we wanted to share some thoughts on the evolving landscape and provide some opinions on what it means for volatility and markets. Ther2025-03-07 · Market in PicturesThe Market in Pictures, March 7Our team looks at a lot of research throughout the day. Here are a handful that we think are contributing to investor activity, from strength in foreign markets to correc2025-03-06 · Bonds & RatesDueling Mandates in Play for FOMCAtlanta Fed GDP Now Shows First Signs of GDP Sputtering in Several Years The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quar2025-03-04 · Market UpdatesRearview to Windshield, March 2025During the month, it felt as if the animal spirits coming out of the election had finally been disrupted by what is perceived to be a certain hyperactivity in Washington 2025-03-04 · Market UpdatesWinning the Long-Term Money GameIf we gave you a million dollars to invest today, with the objective of delivering the highest compounded annual growth rate (CAGR) over a typical 30 year period, where w2025-02-28 · Market UpdatesAptus Musings: Q4 2024 Earnings ResultsHope that everyone has been enjoying some warmer weather this past week. It was a tough winter; the U.S. has been experiencing its coldest winter in ~15 years and amongst2025-02-28 · Market in PicturesThe Market in Pictures, February 28Our team looks at a lot of research throughout the day. Here are a handful that we think are contributing to investor activity, from earnings to sentiment to the economy 2025-02-21 · Bonds & RatesAround the Bond Market, Feb 2025Quantitative Tightening Ending Soon This week’s press about the Fed minutes release were the same: the Fed is worried about tariffs and is in no rush to lower rates. But 2025-02-21 · Market in PicturesThe Market in Pictures, February 21Our team looks at a lot of research throughout the day. Here are a handful that we think are contributing to investor activity, from earnings to tariffs to market breadth2025-02-18 · Investment ConceptsAvoid This Tax Mistake: Treasury Income is State-ExemptWith Treasury yields at multi-year highs, many investors are turning to Treasury-focused ETFs, money market funds, and broad bond index funds to capture attractive return

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