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Mark Luschini, Guy LeBas and Gregory M. Drahuschak
June 4, 2026
In this month’s issue, we look at what’s next for the Strait of Hormuz, compare funds versus bonds, and commemorate the 234th birthday of the New York Stock Exchange.
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Guy LeBas
May 21, 2026
Two years ago, we introduced our Real Yields model of forward returns in the US bond markets. As of mid-May 2026, following an unexpected spike in interest rates, modeled returns projections are now at their highest point in more than two years.
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak
May 7, 2026
In this issue, we examine the rising cost of homeownership, the potential implications of Fed Chair Powell’s departure, and key market considerations for May.
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Guy LeBas
April 29, 2026
Yielding to decades of precedent, the Fed has held that it should not react to swings in commodity prices but rather wait until evidence emerges one way or the other that broader price levels are rising. Unsurprisingly, language in the April FOMC statement emphasized the uncertain nature of energy price pass throughs, with the Committee emphasizing the phrase “Developments in the Middle East are contributing to a high level of uncertainty.”
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak
April 9, 2026
Our Investment Strategy Group examines how geopolitical tensions are influencing oil prices and market dynamics. The report also explores opportunities in emerging markets and reinforces the importance of staying focused on long-term fundamentals.
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Guy LeBas
March 18, 2026
Today, at his penultimate FOMC meeting, Powell led the FOMC to leave overnight interest rates unchanged at a range of 3.50 – 3.75%, where they have been since December’s cut.
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak
March 6, 2026
In this issue we discuss if it's time to rethink China, how oil and the bond market mix, and if wars derail markets.
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak
February 9, 2026
In this issue, the Investment Strategy Group explores gold's potential, the drivers in the bond market, and tech's tough stretch.
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Guy LeBas
January 28, 2026
Fed Chair Jay Powell is in the final countdown of his tenure, with only two more FOMC meetings left, and the parlor game of betting on his successor is in full swing.
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak
January 13, 2026
In this issue we look at AI and its impact on productivity, how executive policy drove the market in 2025, and the January effect and stock market seasonality.