Muhlenkamp Quarterly Market Commentary – April 2026
Published on April 7, 2026
Geopolitical conflict involving Iran disrupted energy markets, driving oil and the dollar higher while stocks, bonds, and gold fell. Despite volatility, economic signals are mixed but stabilizing, especially in manufacturing. Muhlenkamp outperformed markets, increased cash and international exposure, while remaining cautious amid inflation, policy uncertainty, and ongoing war risks.