Value Breakout Shows Benefits of Diversification

Published on October 28, 2026

There was very little macroeconomic news last week, but there was certainly no shortage of action in the markets. We saw an extraordinarily sharp rotation out of growth and into value, with both the Russell Value Index and the S&P Value Index reaching all-time highs even as the Nasdaq suffered one of its largest recent selloffs. That is a dramatic divergence, but historically it is not unprecedented.

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Zooming Out

October 28, 2026
The human brain has a remarkable ability to adjust what it considers to be normal, oftentimes very quickly. Experiencing or achieving something that might have previously seemed like a long shot can quickly shift our mindset to expect that outcome over and over again. While yields have been very attractive for the past few years compared to the past several decades, we recently experienced a spike

Strong Economic Data Meets Rising AI Concerns

October 28, 2026
Economic data that continued to show a strong U.S. economy, housing aside, took a back seat this week as investors once again focused on potential risks to future growth: rising energy prices, sticky inflation, and most importantly, questions about the sustainability of the artificial intelligence (AI) boom.