U.S. Recession Scorecard: Stuck with reduced visibility

The scorecard indicators remain mixed, including a shift in the yield curve indicator. The government shutdown has limited employment data, confirming a cautious investment approach is needed, as ongoing policy and trade shifts affect the economy. 

Fall 2025 Commentary - U.S. Recession Scorecard: Stuck with reduced visibility

Trade Deals, Deadlines and Delays 

Despite summer typically being more quiet, the headline-filled nature of 2025 has yet to show signs of slowing. A few notable developments have taken place recently, including the signing of a key piece of U.S. legislation and new tariff rates being proposed. We discuss below.

Summer 2025 Commentary - Trade Deals, Deadlines and Delays 

Climbing a Wall of Worry

 June 30, 2015 |Tony Pringle

The title of this commentary refers to an old market saying that bull markets ‘climb a wall of worry.’ On the other hand, bear market conditions are often the opposite where excess optimism prevails, and times are good.

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