Froth Coming Out. Tape Remains Resilient.

Published on July 22, 2026

Chris Galipeau discusses high-conviction insights that go beyond media headlines.

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Equity Takeaways from Our H2 2026 Economic & Market Outlook

July 22, 2026
The equity bull market is expected to continue through the second half of 2026, supported by resilient U.S. growth, AI investment and solid earnings.

Rich Spreads, Cheap Treasuries, and an Incomplete Explanation

July 22, 2026
The relative cheapness of Treasuries versus interest rate swaps mechanically affects how corporate bond spreads are measured, but it appears to have limited influence on how corporate bond spreads actually behave.