Peak Uncertainty
An ongoing war, fuel prices at record levels (I saw diesel at $9.19/gallon yesterday), fear of AI eating everybody’s lunch, a u-turn on globalization further complicating trade and supply chains....
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Staying Constructive Amid Higher Rates and Energy Costs
Entering the final quarter of 2026, investors are navigating an environment characterized by higher oil prices, elevated interest rates, geopolitical uncertainty, and rapid technological change....
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Why Intermediate & Long-Term Muni Yields are Compelling Right Now
The Rate Backdrop On September 16th, the Federal Open Market Committee (FOMC) raised the Fed Funds rate by 25 basis points to 3.75%–4.00%, its first hike since 2023. The FOMC voted...
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Resilient So Far
The U.S. equity market has enjoyed a fairly quiet and orderly run so far in 2026. After initially declining by 7.7% at the beginning of the Iran conflict in late February through late March,...
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Navigating the Crossroads
Strong Employment Data Complicates the Fed’s September Rate Decision Without any doubt, the August employment report was quite strong, which presents a dilemma for the Fed at a crossroads....
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The Mercosur Moment
We believe the provisional implementation of the EU–Mercosur Interim Trade Agreement (iTA) on May 1, 2026 represents one of the most consequential changes to Latin America’s trade architecture...
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At High Enough Interest Rates, Everyone Starts to Care
Rising interest rates are dominating the headlines and, many would argue, for good reason. The 30-year Treasury yield hit a post-GFC (Global Financial Crisis) high this week touching just above...
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A Thought Experiment
Assume a Vacuum Albert Einstein used thought experiments to develop his theory of relativity — riding alongside a beam of light, falling in an elevator, chasing a clock at the speed of...
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Digging Beneath the Surface
What does the latest jobs report really tell us about the health of the U.S. economy? Dr. Charles Lieberman looks beyond the headline numbers at employment, inflation, economic growth and corporate earnings—and what they may signal for investors in the months ahead....
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