Our 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, trade policy to fiscal policy, and home owners to equity owners. Enjoy!
Brian: We’ve seen a steady stream of “scary” overnight headlines that have generally been buying opportunities
Source: Bespoke as of 06.16.2025
John Luke: and when earnings hold up, it’s tough for negative macro stories to stick
Data as of 06.17.2025
Jake: We’ve seen earnings revised lower in a handful of sectors
Data as of 06.17.2025
John Luke: so this quarter should be informative on whether earnings will be a tailwind or headwind
Brett: As is usually the case, stocks started their rise from the lows against maximum uncertainty
Data as of 06.16.2025
Ten: which generally coincided with the state of tariff rates
Source: Apollo as of 06.19.2025
John Luke: Interest expense is offsetting a large and rising portion of US tax receipts
Data as of May 2025
John Luke: but it’s not the only source of rising government spending
Data as of 06.19.2025
Arch: it doesn’t seem like the coming tax bill will be changing the path of government deficits
Data as of 06.17.2025
Joseph: Personal income is generally strong and rising in the US
Data as of 06.13.2025
Brad: but so is housing inventory
Source: Morgan Stanley as of 06.13.2025
Brian: which, at some point, can hopefully take us closer to the golden age of homebuying
Source: Bloomberg as of April 2025
Dave: The valuation premium for US stocks has shrunk from recent highs but remains historically high
Beckham: but the premium hasn’t stopped foreign investors from continuing to buy US stocks
Source: Apollo as of April 2025
Brad: In case anyone ever asks who actually holds stocks, this is a good reference
Data as of March 2025
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