Blog

U.S. equities delivered strong gains in September, a month that often leans weaker seasonally. The S&P 500 rose about 3.5 percent and the Nasdaq gained roughly 5.6 percent, marking the best September in over 15 years. Participation was somewhat uneven. Large-cap technology and growth companies remained important drivers of performance,

Consumer Confidence is more than just a survey: recent research in narrative economics suggests it is a critical determinant of the American economy. Here is why: Consumers control the economy, accounting for roughly seventy percent of GDP; their spending is heavily influenced by narratives. The narrative of fear and distrust,

Monetary Policy ▪ The FOMC announced yesterday it will cut the Federal Funds target rate by 25 bps to a range of 4.00 – 4.25%, the first policy rate change of 2025. This decision had become widely expected by the market prior to the meeting.▪ Newly sworn in Fed Governor

Equity markets have staged a strong rally from the April lows, supported by economic and earnings data that have proven more resilient than initially feared. While our investment process incorporates a wide range of inputs, we highlight below several developments that have been particularly relevant in recent weeks. 1. Federal

The Housing Starts Report measures the pace of new residential construction in the United States. It focuses on 2 key indicators: Interpreting the Numbers July’s numbers tell two stories. On one hand, builders are pressing ahead with current projects despite high borrowing costs, showing resilient housing demand. At the same

Please find the next blog in our monthly series that provides a snapshot of the markets and the state of the economy. Economic Overview Market Returns Asset Class Valuations – Rebalancing Rationale Key Risk Factors We Are Watching Disclaimers: The views expressed herein are those of Asset Consulting Group (ACG).

New orders for manufactured goods fell 4.8% in June, signaling a slowdown in demand from businesses placing fewer orders with manufacturers compared to May. At first glance, this drop may appear concerning, but a closer look reveals it could be less a red flag and more a recalibration. May saw

GDP for Q2 2025 rose 3.0%, beating consensus, but the one quarter gain only tells part of the story. The main driver was a significant swing in trade: Excluding these volatile components, real final sales to private domestic purchasers, a measure of how much individuals and businesses within the U.S.