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 money supply to inflation and rates, low quality and high quality businesses, and expectations for earnings and stocks going into Q4. Have a great weekend!
Beckham: The current stretch of fiat debasement is not just a US thing
Dave: but we have a clear history here of being good at creating money to meet our spending “needs”
Source: Raymond James as of 10.08.2025
Ten: The actual figures may be different, but the inflation paths for developed regions have been remarkably similar
Data as of 10.09.2025
Brett: but for now, only the US central bank is expected to continue its rate-cutting cycle
Data as of 10.08.2025
John Luke: in past cycles, cutting rates in non-recessionary times has created a nice tailwind for financial assets
Source: Capital Group as of 10.03.2025
Brad: The run in stocks of weaker businesses has been amazing
Joseph: with unprofitable tech companies a particular area of recent strength
Brad: Next week, we’ll see money-center banks kick off the Q3 earnings season
Source: Goldman Sachs as of 10.03.2025
Mark: and we’re heading in with a relatively low bar for earnings expectations
Data as of 10.03.2025
Dave: and, rare of late, no quarter-long drop in consensus expectations throughout the quarter
Data as of 10.03.2025
JD: Regardless of the quarter’s outcome, US company profits are the envy of the world
Data as of 10.08.2025
Dave: and the picture looks just fine heading into 2026
Data as of 10.02.2025
Dave: The move of the past 6 months has been among the best ever
Source: Strategas as of 10.08.2025
Brad: and with Q4’s positive tendencies, no reason to expect an imminent reversal and sustained downturn
Source: Strategas as of 10.03.2025
Brian: The run in tech stocks has outlasted the bears, who have continually called for a top
Graphic via @LarryAdamsRJ as of 10.07.2025
Jake: and despite pockets of speculation, conditions are far more normal and healthy than they were when the dot-com bubble peaked
Data as of 10.09.2025
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