Fixed Income

Human stupidity is the one thing you can rely on in financial markets. I recently read a great piece by Joe Wiggins at Behavioral Investment, which discusses why “Investing is hard.”

In the understatement of 2025 thus far, the headlines emanating from Washington, D.C., have been fast and furious. Whether they be tariff-related, involving federal government cuts or geopolitical in nature, there has been a headline for many facets that investors could think of.

Recession fears have risen sharply of late as economic soft data have rolled over, upping the risk that hard data start to catch down.

European equities have started 2025 on a positive note. Several factors could help support the market overcome challenging conditions.

Receiving an unexpected gift or inheritance is something that people may dream about. Our Bill Cass discusses some key considerations if that dream becomes reality and you do receive a financial windfall.

A creative look at the parallels between March Madness and the bond market.

On March 11, Russell Investments hosted a webinar examining the challenges and opportunities presented by alternative diversifiers, including strategies for incorporating these solutions into portfolios.

In this week’s edition, we shift our focus to another critical segment of the ABS market: those tied to consumer loans, such as credit cards and auto loans.

Since our last update of our ‘Three Tactical Rules’ on February 4, equity markets have been under pressure as the S&P 500 has retraced more than 23% of the rally that started October 2023.

Value investing and emerging markets are not often associated with one another. Conventional wisdom says that emerging markets, with their rapidly developing economies and rising consumer classes, are naturally the hunting ground of growth-oriented investors.

Two Sessions, or Lianghui, is the popular name for the annual meeting of China’s top legislative and consultative bodies. These gatherings are closely watched by overseas observers as they provide key insight into China’s political landscape, economic priorities and overall policy direction.

Customization is an integral part of direct indexing. The technology behind it can make or break the experience for clients and advisors alike. We dive into the features and functions that make the best tools.

As of the end of trading on Thursday, March 13, the S&P 500 closed down 10 percent from its all-time high, marking an official correction. It was the first correction since October 2023—17 months ago.

One of the textbook drivers of alpha is an information edge. Having more information, advanced ways to use that information, and the ability to react to it before anyone else has been a massive advantage throughout the history of markets.

I recently celebrated another trip around the sun, which meant I couldn’t let the occasion pass without enjoying some birthday cake.

Several indicators used by fixed income investors to measure value have recently taken a positive turn, potentially flashing an entry-point opportunity for investors with money to put to work.

A time-honored belief holds that inflation is bad for stocks, but recent developments may be challenging this view.

The U.S. housing market has been a critical factor in the broader economic landscape, and its trends have profound implications.

Last week’s economic data was plagued by uncertainty. A brief respite in inflation pressures was overshadowed by sentiment concerns.

Policies to support mainstream crypto adoption are underway.

The recent sell-off has certainly sparked concerns with investors but the NYSE advance-decline line is an important technical measure to watch. However, what is it, and why does it matter?

On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed recent developments in the trade war and the impact on markets. He also dug into the latest U.S. economic data and provided an update on investor sentiment.

Unpredictable U.S. tariff policy has heightened concerns about a potential U.S. economic recession.

This morning’s retail sales report is a bit of relief. The economy, as of the end February, is not in free fall as the control group increase of 1.0% offset the same decline in January. Nevertheless, the underlying concerns that emerged over the last few days cannot be ignored.

The economy stands upon the edge of a knife as gold hits new highs. Plus, we review our predictions for gold and silver last year and provide our price predictions for 2025.

One of the biggest challenges investors face today is navigating the most concentrated U.S. stock market in history, where the largest stocks represent a record share of total market value.

Banks’ retreat is creating opportunity for investors.

Understanding actual inflation – instead of what the media’s narrative tells you it should be – is critical to your investment planning. It is one thing for a pundit to say this or that, but it is another to look at the actual data for yourself.

Recent economic data has been all over the map. Consumer confidence sank this month to the lowest level since November 2022, yet the labor market remains strong, with historically low unemployment and rising wages.

One thing we have seen underscored in 2025 is that the bond market can change its mind very quickly, particularly as it relates to policy emanating from Washington, D.C. Following President Trump’s election win, the dominant theme in the U.S. Treasury (UST) arena was that his Administration’s policies would lead to higher budget deficits, increasing UST supply and, ultimately, higher rates for maturities like the 10-Year yield.

Stocks rebounded on Wednesday as core inflation in the United States came in below consensus expectations and news of a possible 30-day truce in the Russia-Ukraine war emerged. Big tech stocks also recovered after flirting with bear-market territory earlier this week.

News headlines this week have been dominated by recession fears in the U.S., with the S&P 500 and the Magnificent 7 shedding value. Yet, amid this rising uncertainty, a positive story is emerging—the performance of European markets.

Ben Inker and John Pease look at the economics of trade and tariffs at a theoretical level and explain why broadly applied tariffs are a needlessly economically way to achieve U.S. goals.

News related to tariffs, DOGE, geopolitical unrest, NVIDIA earnings, and more significantly impacted U.S. stock markets recently, with the S&P 500 retreating over 2.5% during the second half of February. There are signs that meaningful structural shifts are taking place in the market.

The 60/40 portfolio, where 60% is invested in stocks and 40% in bonds, is the initial starting point for many portfolios. The exact asset mix is often adjusted based on an investor’s time horizon, risk tolerance, and financial goals, but the simple, proportional stock-bond combination is what is often considered a “balanced” portfolio.

In today’s rapidly evolving financial landscape, advisors are expected to be more than just portfolio managers. Clients don’t just want investment recommendations—they seek a trusted partner who understands their financial needs, offers strategic guidance and provides peace of mind during turbulent times.

It was inevitable. Certain pieces of the market roared to insane valuations last year. Investors poured money into the markets and speculated stocks would keep rising forever. But, sentiment has shifted.

March came in like a lion, much to the bears’ delight. The S&P 500® plunged from its February 19 high on the heels of stern tariff talk and phrases like “a little bit of an adjustment period” from President Trump and the economy entering a “detox period,” as Treasury Secretary Bessent said last week.

The Liberal Party of Canada has wrapped up its leadership race, with Mark Carney winning by an overwhelming margin.

Warmer weather means that many animals come out of hibernation. Unfortunately for investors, market bears have also awakened from their slumber.

There has been further indication that the U.S. will underperform during a negative market, according to DoubleLine's Jeffrey Gundlach.

Navigating tax season can be even more confusing when facing the range of rules around IRA withdrawals, 529 plan distributions, and charitable deductions. Our Bill Cass details some common questions around tax filing.

The risk of a recession in the U.S. is not zero. This is particularly true as the current Administration tackles Government bloat and implements tariffs. However, before we discuss why the risk of a recession could increase, it is crucial to remember the 2022 experience.

Most of us associate 529 accounts with college savings. They’re flexible, allowing you to transfer assets to anyone, including yourself, for the express purpose of furthering the education of your beneficiary. But did you know that a 529 can be a powerful estate planning tool?

Germany is newly motivated to reconsider its fiscal restraint.

Investors who have come to us in the last three to four years are probably wondering if we’ve been here before. By here, we mean a stretch of significant underperformance relative to our benchmarks. The answer is, yes. Let’s review those prior circumstances to see if we can learn something about where we might be headed.

Three months into 2025, the U.S. IPO (initial public offering) market remains in a rut. Why? And, perhaps just as importantly, is a rebound still possible?

In a world of rich valuations and heightened geopolitical uncertainties, we believe Japanese equities are well positioned to deliver attractive returns.