Insights

The Through Line: For months, the disconnect between sturdy economic data and steadily weakening sentiment readings has perplexed those trying to decode the market’s long-term path......

The Through Line: As U.S. House Speaker Mike Johnson tried to herd the cats toward passage of a budget reconciliation deal, bond vigilantes kept a close eye on the details. The U.S. budget deficit run rate – and the accumulated total debt......

The Through Line: Volatility in treasury markets has surprised investors in recent weeks as participants have grappled with a matrix of issues including the sustainability of global growth, fluidity in U.S. trade policy and the growing relative......

The Through Line: Markets reacted sharply after President Donald Trump unveiled his “Liberation Day” tariff plans, moving rapidly to reset valuation levels. Did they go far enough to accommodate the current fundamental situation or overreact?......

Still slightly overweight Canada – Now underweight U.S. and market weight Europe and Emerging MarketsIt is becoming clearer that Trump’s tariffs and trade wars are less a means to an end than an end in themselves. The implications are profound. The...

The Through Line: The thirst for certainty has reached fevered proportions, yet the very opposite may prevail for at least a few more months even after U.S. President Donald Trump’s April 2 announcement of sweeping tariffs on virtually all......

Worried headlines were the order of the day during the first quarter of 2025. Words and deeds of the new U.S. administration produced many heavy hearts and unpleasant surprises......

The Through Line: The AI revolution is fast upon us, bringing an intense amount of change and opportunity. Such periods of transformation inevitably lead to a host of questions......

The Through Line: The door to the globe’s worry closet has been flung wide open this year, with a broad array of challenges spilling out. Just a few of the many monsters loosed from the closet to keep us up at night: tit‑for‑tat trade wars......