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Long-term Treasury yields are at their highest levels in nearly two decades. The Treasury Department just doubled its bond buyback program. Earlier this month, the U.S. joined Japan in defending the yen for the first time since 1998. Behind all three headlines are two men whose careers make this moment

What Is Happening in the Bond Market Long-term interest rates have climbed to levels not seen in nearly two decades. The 30-year Treasury yield touched 5.34% on Tuesday, its highest since 2007, and closed Thursday at 5.25%, with the 10-year near 4.70%. The main causes appear to be these: large

The Rotation That Has Defined 2026 Thus Far For most of 2023 through 2025, the U.S. stock market’s story was simple: a handful of mega-cap technology companies, the so-called Magnificent Seven, drove nearly all the gains as artificial intelligence enthusiasm pushed their valuations to record levels. That narrative broke down

Builder confidence rose one point in August to 35, according to the National Association of Home Builders/Wells Fargo Housing Market Index released today. The move caught forecasters off guard. Economists polled by Reuters had expected a third straight monthly decline, to 33, as elevated mortgage rates and construction costs continued

Overview 2026 has brought a period of change to the Federal Reserve with the appointment of new Fed chair Kevin Warsh. Investors have also been presented with a dynamic set of evolving geopolitical events and changing inflation expectations resulting in a pivot away from dovish monetary policy views toward anticipation

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).

Existing home sales fell 1.7% in July from June to a seasonally adjusted annual rate of 4.06 million units, according to the National Association of Realtors, though sales still managed to rise 0.7% from a year earlier. The median sales price climbed 2.0% year over year to a record $434,100,

The NFIB Small Business Optimism Index jumped 2.4 points in July to 99.8, pushing above its 52-year average of 98.0 and marking the highest reading since August 2025. Eight of the index’s ten components improved while only two declined, a broad-based gain rather than one driven by a single data

July’s Consumer Price Index (CPI) report showed inflation continued to ease. Headline CPI rose 3.4% year over year, down from 3.5% in June, while core CPI, which excludes food and energy, slowed to 2.5% from 2.6%. On a monthly basis, headline prices rose 0.1% in July after falling 0.4% in

Leverage is one of the most powerful tools in investing, and one of the most dangerous. Used carefully, it can accelerate wealth creation. Used carelessly, it can wipe out decades of gains in a matter of days. This publication walks through how leverage works, why it fails the way it