Quarterly Updates

From Repricing to Reassessment April’s sharp market drawdown prompted a reset in expectations. Rather than causing a retreat, it encouraged a more deliberate reassessment of fundamentals. In the weeks that followed, both equity and credit markets regained ground, with several major indices reaching new highs by the end of the quarter. ...

Overview As we enter April, recent developments have meaningfully reshaped market sentiment. The bold tariff decision announced on April 2nd, combined with weakening consumer data and persistent inflationary pressures, has prompted a broad repricing of risk. While valuations were already elevated at the start of the year, these factors have ...

Overview Heightened volatility in August couldn’t derail stocks, and the S&P 500 closed the quarter at an all-time high. In the bond market, the three-month Treasury bill yield remained stable for much of the past year but began to decline ahead of the September Fed meeting, as expectations for a 50 ...

Overview Heightened volatility in August couldn’t derail stocks, and the S&P 500 closed the quarter at an all-time high. In the bond market, the three-month Treasury bill yield remained stable for much of the past year but began to decline ahead of the September Fed meeting, as expectations for a 50 ...

Overview The recent economic environment has been positive while markets have remained resilient. On the back of AI, favorable earnings, and expectations of multiple rate cuts to start the year, risk assets have delivered strong returns year-to-date. Interest rates have remained unchanged despite expectations for several cuts at the start of ...