Earnings Strength Trumps Tariffs, Supports Rally

Published on October 28, 2025

Energy and commodities are not flashing red. Oil ticked up from depressed levels amid new sanctions on certain Russian producers, but on a multi-month basis crude is still lower, and the broader Bloomberg-style commodity basket has been roughly flat over six to nine months.

Continue reading on website
Other news

Credit Markets Are Being Tested

October 28, 2025
Global equity markets have surged this year, in spite of moderate economic growth and an accumulating series of risks. This has led some to worry that valuations have been stretched a little too far. The same can be said of credit markets, which have seen spreads fall to levels last seen in 2007.

Cracks Emerge Beneath Market Resilience, Challenging Areas of the U.S. Economy

October 28, 2025
The recent high-profile bankruptcies and the timing of their collapse are consistent with this changing macro backdrop, although these cases were also allegedly exacerbated by inconsistencies in collateral accounting and pledges.