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 lack of credit compensation, to rates and US dollar moves and housing. Enjoy!
Jake: The return to new highs for US stocks puts it in the upper range of the extended rallies of the past century
Source: Bespoke as of 06.27.25
Dave: after the bull looked wobbly in the heart of the tariff tantrum
John Luke: Stocks are heading into Q3 with a full head of steam, which has historically been a good sign for future returns
Source: Strategas as of 06.26.2025
Brett: and while many are hesitant to embrace large-cap stocks due to “high” valuation, the record shows very little future performance difference between high and moderate valuations
Source: Bespoke as of 06.22.2025
Arch: The growth of ETFs has made them a huge owner of corporate bonds
Data as of 06.20.2025
Brian: perhaps contributing to the lack of compensation for credit
Source: Aptus as of 06.25.2025
Brad: and the compensation doesn’t get a whole lot more attractive as you go down the quality scale
John Luke: The debate about whether FOMC policy is too restrictive remains alive
Data as of 06.10.2025
Brad: and looking back further, only the 1998 cycle saw a sustained rise in longer-term Treasury yields
Source: Goldman Sachs as of 06.23.2025
John Luke: Chairman Powell has been the target of administration pressure to cut rates, but he sits in the midrange of FOMC members advocating generally tighter or looser policy
Source: Bloomberg
Brad: The most obvious impact of higher rates has been a lack of borrowers ready to buy homes
Source: WSJ as of 06.24.2025
Beckham: but the supply side is also impacted by a lack of attractively-priced homes for sale
Source: Bespoke as of 06.25.2025
Joseph: The odd piece of holding rates relatively high is that the US dollar has been weak despite the relatively tighter policy, and investors aren’t ready to change that stance
Data as of 06.20.2025
Brian: which could be attributed to the still-expensive valuation of the dollar after its long period of strength
Data as of 06.23.2025
John Luke: For anyone still wondering if artificial intelligence can live up to its hype, the ramp of corporate usage is steep, with a lot of runway remaining
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Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.
Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.
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