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 drawdowns to rate cut expectations, inflation and the economy, and data centers and asset class correlations. Have a great weekend with warmth and March Madness, the market will be here when you get back!
John Luke: Stocks have added another 5% pullback to the many that have come and gone before
Brian: and as a positive data point, the slowest among them have been the mildest, and this one qualifies
Graphic as of 03.19.2026
Dave: The uptrend leading into this pullback was intact for a healthy stretch of time
Dave: and fell into a sweet spot of duration that has historically led to healthy 12 month returns
Source: Bianco Research as of 03.19.2026
John: One obstacle to an immediate bounce is the lack of corporate buybacks in the weeks ahead
Source: Goldman Sachs via Daily Chartbook 03.17.2026
Brett: but on the positive side, active professionals have already trimmed their bullishness
Data as of 03.19.2026
Ten: Expectations of rate cuts in 2026 have vanished
Data as of 03.18.2026
Joseph: with the next 12 months now perceived as more likely to see rate hikes than cuts
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Source: CME FedWatch Tool as of 03.20.2026
Dave: and the curve shifting dramatically since the Iran attacks began
John Luke: Even before the spike in energy prices, we just couldn’t get producer prices to fall into the target growth range
Data as of 03.18.2026
Brad: and we’re now likely to see energy become a contributor for the first time since 2022
Data as of 03.13.2026
Dave: As a positive, we’re in a period of broadening profits across the globe
Data as of 03.13.2026
Dave: and tariffs have settled into the 10% range, regardless of new pronouncements
Source: Bianco as of February 2026
Jake: With the large amount of intervention by central bankers, recessions have become more of a rarity
Source: Apollo as of 03.18.2026
Beckham: While the rate environment is impacting traditional real estate, it can’t stop the onslaught of data center construction
Source: Apollo as of February 2026
JD: and it doesn’t look like that trend is stopping anytime soon
Source: Census as of March 2026
Brad: We’re back in an environment where bonds are doing nothing to offset equity pullbacks
John Luke: making them even less useful to portfolios than their historic returns would indicate
Data as of January 2026
John Luke: As seen in the US Olympic team’s gold medal-winning hockey game, a legit goaltender can free their team to be more aggressive on offense
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