The Reflation Narrative

Published on February 11, 2026

The market got off to a strong start in 2026, with investors chasing industrials, materials, and commodity-related stocks as the reflation narrative gained traction. The “reflation narrative” is the belief that a range of policies will boost the rate of economic growth in the U.S. without triggering inflation.

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Unlocking Value in Middle-Market Private Equity With Guest Matt Katz, Fiduciary Trust

February 11, 2026
In our latest “Alternative Allocations” episode, Matt Katz of Fiduciary Trust International explores the unique structural advantages of the middle market and shares tactical insights on using secondaries and due diligence to navigate today's evolving private equity landscape.

Employment Weakness is Driving the Mood

February 11, 2026
A couple of weeks ago, on Jan. 23, 2026, we dedicated part of the weekly commentaries to the mismatch between the economy and how American consumers feel about it. We said that measures of consumer confidence and consumer sentiment were not in sync with the strength of economic activity.