Michael's Blog

While U.S. equities continue navigating waves of volatility on the way to new highs—the environment certainly was not as favourable. Today, we’ll look at four key catalysts the drove recent outperformance and examine whether they can be sustained. The...

While inflation has stayed calm in 2025, concerns about potential tariff-related price hikes have kept the Fed sidelined. Today we’ll analyze recent commentary, the impact of market forces and political pressure on yields, and the probability of future...

Navigating equity bear markets requires greater-than-usual patience. Given the potential cost of missing periods of strong returns, the more suitable course of action for most investors is to remain disciplined and invested. Corrections Are Normal Equity...

Three years ago, all Recession Scorecard indicators were rated expansionary green, suggesting to us that the U.S. economy—and by association, global stock markets—were on a firm footing with a long way to run. Today, only one green indicator remains—the...

The centerpiece of U.S. President Donald Trump’s economic agenda is winding its way through Congress. What’s inside the current legislation that’s of key interest to markets and investors, and how could this change ? The tax and budget bill recently passed...

Following an 18.9 % plunge due to substantial tariffs, the S&P 500 shot up 19.7 % from April 8 through May 19 after very high tariffs were paused. Since then, it has backed off some but is still above the levels before big tariffs were levied and is now...

Even as trade tensions eased further this week, the Federal Reserve continues to battle between the two sides of its mandate—price stability and full employment. Policymakers see growing risks to each, setting up a potential duel within its dual mandate...

The U.S.’s reciprocal tariffs are on pause until early July 2025, though 10 % universal tariffs are still in effect, as are 25 % sectoral tariffs on steel, aluminum, and autos. The Trump administration is pondering tariffs on pharma, copper and lumber...

While The U.S. Federal Reserve has often been quick to cut rates to help support the economy, the current combination of potential inflationary pressures and policy uncertainty may leave the Fed sidelined longer than some investors may hope. Historical...