Insights

U.S. stocks powered through tariff turbulence on the way to all-time highs. But it’s only natural to question whether the three-year winning streak can be extended. We look at what drove equities in 2025 and how prospects for 2026 are shaping up.

When the end of the year approaches, many individuals place a greater focus on tax planning to minimize their income tax liability. Beyond the end of the year, however, there are some areas of tax planning that often get overlooked. For example, there...

Long-term economic trends have left the U.S. economy increasingly reliant on spending by upper-income households. We unpack the potential implications for economic stability and Federal Reserve policymaking.

The future is here … and gathering speed. We share key insights from our Global Insight 2026 Outlook, highlighting the forces likely to shape financial markets as well as potential investment opportunities for the year ahead and beyond.

One common concern we hear from investors is that the market has gone up too much or has advanced for too long and is destined for a fall. The trend in recent years is for both the ups and downs in markets to be exaggerated compared to what we had in...

Another rate cut from the Federal Reserve this week has taken U.S. interest rates into a new era where we think every rate cut not only means that policy gets easier, but risks becoming too easy, all while the decisions only get harder.

One consistent source of investor concern in 2025 has been valuations, particularly for U.S. stocks. Price/earnings ratios south of the border are indeed above long-term averages, reflecting healthy earnings growth. We are often asked what will happen...

The rally in 2025 and throughout the longer bull market cycle has been uneven with the largest of large-cap stocks dominating. Key charts illustrate this phenomenon, and we discuss how to factor this into portfolio strategies.

Stagflation lite exacerbates growing K-shape divergence Heading into 2026, we see a US economy that is increasingly on track for a stagflation lite scenario: GDP growth running below the typical 2% trend, while inflation remains uncomfortably high. Still...