Last Week
Fed Independence: No Longer a Theoretical Risk
January 21, 2026
Questions around Federal Reserve independence have resurfaced, raising concerns about policy credibility, market stability, and long-term inflation expectations. Julia Hermann and Sarah Hirsch discuss why this is not their base case, which market signals would matter most if independence came into question, and the most common misperception they hear around the role of the Fed Chair.
Charting the Year Ahead: Outlook for 2026
From large caps to quality small caps, structured credit to global equities, our strategists outline where they see opportunities in 2026.
Is AI in a bubble?
Julia Hermann explains why AI’s transformative potential still supports long-term investment conviction, even as valuations rise and near-term market dynamics shift.
How the U.S. Government Shutdown Hits the Strategist Desk
The U.S. government shutdown is entering its third week, raising concerns about economic momentum and market volatility.
After the Cut: Global Allocation for a New Rate Regime
The Fed’s shift toward easing marks an important turning point for global markets.
Investment Themes for a Rapidly Changing World
Defense budgets are at records, trade barriers are rising, and governments are prioritizing security over efficiency.
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