Doug Drabik discusses fixed income market conditions and offers insight for bond investors.

On the Money Metals podcast, host Mike Maharrey sits down with Philip Newman, founding partner and managing director at Metals Focus in London. Newman explains that Metals Focus, launched in 2013, is a pure precious-metals research house; it does not trade.

A bipartisan group of senators struck a deal on November 9th to re-open the government, with seven Democrats and one independent joining 52 of the 53 Republicans to reach the elusive 60-vote supermajority needed to move forward.

Taiwan-based insurers are gearing up for a big overhaul in their regulatory framework. The transition to the Taiwan Insurance Capital Standard (TW-ICS) is slated for January 2026, though some provisions will have a lengthy phase-in period.

Are U.S. stocks approaching bubble territory or is the bull run able to press on? Active investor Tony DeSpirito is optimistic but says pockets of bubble-like exuberance could create mispricings ― making it “an exciting time for stock selection.” He suggests three areas that may be ripe for the picking.

Hints of reforms to ease foreign-ownership limits in Saudi Arabia set off the sharpest rally for its equity market in years this autumn, reigniting investor curiosity.

The Fed can turn QE back on like they did in the latter part of 2019, most likely by buying T-bills. It is important to note that this would be purely a technical mechanism for the funding markets and not a dual mandate monetary policy consideration.

When we look at broader multi-asset portfolios that tap into real assets, including digital assets, as well as inflation fighters like income securities and real return strategies, we find that they have delivered strong results to the debasement-trade crowd.

This technology is moving quickly, with most businesses only in the early stages of understanding its capabilities. Whether and how fast AI can unlock new, transformative, lucrative idea generation or unleash a force in the U.S. economy similar to the “China shock” – the period in the early 2000s when outsourcing shrunk the U.S. manufacturing base and structurally changed the U.S. labor market – is yet to be seen.

According to a survey conducted by BlackRock and YouGov, ETF adoption continues to expand while also seeing a shift demographically.

The nuclear energy sector is experiencing a powerful revival, driven by macroeconomic shifts and technological innovation. For financial advisors and investors, understanding these trends is key to identifying investment opportunities as the nuclear energy landscape evolves.

The Federal Reserve cut its Fed Funds rate by 25 bps, the 10-year Treasury yield went up 10 bps, and the S&P 500 ended the month of October up over 2%. Let’s unpack those results.

Following a 9-month hiatus in its rate-cutting cycle, the Federal Reserve (Fed) recently resumed monetary easing, with cuts in September and October 2025 in response to signs of a softening labor market.

Investors have poured into gold – but they may also see compelling benefits from a broad-based commodity allocation.

Warren Buffett has raised a red flag about a segment of the housing market that deserves more attention – senior homeowners (i.e. homeowners over sixty years old). He has noted that Americans over 60 have been taking on increasing amounts of debt, a trend that could pose broader risks to the economy.

The equity arena is certainly booming with cheers following the Fed’s second rate cut. But the reaction from the fixed income crowd might be more mixed.

The real issue comes when these investments are held in tax-advantaged accounts like a 401(k) or traditional IRA. Since the income is generated by a partnership, it will be considered Unrelated Business Taxable Income (UBTI) in these types of accounts.

There’s always plenty of downside catalysts, but after a healthy earnings season and nearing shutdown resolution – there are some positive longer term catalysts in that “investors can begin to focus on what is in front of them.

Anecdotes such as these are helpful reminders that long-term investors need not chase the hottest fads in the market and can at times get ahead of the crowds by simply paying attention to the world around you.

It’s been one year since President Trump secured his second term, and we’re taking stock of how the economy and financial markets have performed during that time, highlighting both the wins and the challenges.

Even amid rising markets, US investors should be aware of the hazards of a fast-changing environment.

The prime-age labor force participation rate of 84.6% in January 1999 is still a record high. But the pace of hiring distinguishes the two eras. In the 1990s, anyone with marginal tech skills could readily find work. Information sector employment grew over 27% from 1995 to 2000, while total nonfarm employment gained 12%.

While we wait for federal data to come back online, private sector gauges continue to underscore still-weak manufacturing, resilient services, and mediocre job growth.

Looking back to the 1990s need not be just a matter of nostalgia. Those too young to have lived it envy the fortunes made as technology firms grew. Seasoned investors who worked through the cycle can warn us of the pain of a correction. Along the way, the cycle taught useful lessons.

LPL Research explores how AI-driven investments and intellectual property are reshaping U.S. economic growth, capital flows, and market dynamics.

Although the stability of the consumer depends on its ability to generate labor income, i.e., wages and salaries, households’ financial conditions are very important in supporting the stability of consumption.

In this article, Russ Koesterich explains why the technology sector will likely continue to dominate equity returns into 2026.

The math on forward return expectations, given current valuation levels, does not hold up. The assumption that valuations can fall without the price of the markets being negatively impacted is also grossly flawed.

While the overall economy is in decent shape and many financial benchmarks are near their highs, it can be easy to overlook pockets of fragility. Deep research and a disciplined portfolio construction process can help active managers identify risks early and avoid potential downside.

VettaFi recaps key takeaways from energy infrastructure MLPs and corporations third-quarter 2025 earnings calls.

Solana and Ethereum are challenging Bitcoin's dominance among institutional investors. CoinShares' latest survey reveals fund managers are increasingly choosing these alternatives for their growth potential.

First and perhaps most importantly, model portfolios aren’t chasing clients away. In fact, a slew of studies and surveys confirm clients are more than fine with model portfolios. That’s because above investment performance, they prize advisors’ communication skills, trustworthiness, and other “soft skills.”

Sports wagering has come a long way since then. Global revenue derived from this activity now exceeds $100 billion, and is expected to grow exponentially in the years ahead.

Credit cycles happen. Defaults happen. But negotiated loan structures, lender protections and long-term capital make private credit uniquely resilient

Together with the surge in investments brought about by the CHIPS and IRA acts, plus the recent surge in AI investment, US consumers continue to be the backbone of the US economy.

For more than a century, New York City has stood as the beating heart of global capitalism. That’s why this month’s election of Zohran Mamdani, a self-described Democratic Socialist, as the city’s next mayor has sent shockwaves through America’s business and investing community.

Markets are balancing this risk against the belief that the impasse will resolve soon, with short‐term “betting markets” still implying only a modest probability of prolonged gridlock ahead of the Thanksgiving travel week.

With the next deadline at the end of January, well past Christmas, another shutdown and spending battle is brewing early next year. Investors will need to watch the next one closely to see if policymakers who want to control deficit spending are able to make progress.

We are living through what Torsten Slok of Apollo Global Management calls a K-shaped economy, with the two arms of that K moving in radically different directions.

A recent poll of financial advisors confirms that interest in the “nuclear renaissance” investment case is driven by several distinct tailwinds. When asked what they find most interesting about the sector, the responses revealed enthusiasm for new technology, built upon an appreciation for the fundamental benefits of nuclear power.

The latest U.S. economic data continues to paint a mixed picture. Private-sector employment from payroll processor ADP showed a return to modest job growth in October following a brief contraction.

For years, recruiting top advisors has been defined mainly by transition offers. Firms have gone to war with record-breaking deals, sometimes paying 300% to 400% of trailing twelve-month revenue to land top talent. But even the richest offers have their limits.

The rise of generative AI has triggered a global race to build semiconductor plants and data centers to feed the vast energy demands of large language models. But as investment surges and valuations soar, a growing body of evidence suggests that financial speculation is outpacing productivity gains.

When it comes to inflows, it seems like ETFs are content with beating themselves. After a record 2024 that saw inflows amass just under $1.14 trillion, ETFs did it again by edging past that level today. And they’re not done. State Street Investment Management is projecting total inflows could end the year at $1.4 trillion.

I recently penned an article on “Money Supply Growth,” which elicited a very thoughtful response from Garrett Baldwin via Substack. He argued that labeling Federal Reserve operations as “money printing” is not rhetoric, but rather a reality. He points to Ben Bernanke’s 2010 interview, where Bernanke described how the Fed marks up digital accounts.

Everywhere I go, people ask me what’s next for the economy. My answer depends on what they mean by “next.” Today I’ll review some of the alternate employment and inflation data to see where we stand. There’s a lot we know and a lot we don’t know… but for the big decisions, we probably know enough.

Last week’s economic data sent mixed signals. Consumer sentiment plummeted to a near-record low on economic anxiety, and the manufacturing sector continued its long contraction.

As year-end approaches, it’s a good idea for taxpayers to get a sense of their projected income for the year. This can drive important decisions on whether it might make sense to reduce or increase income (if possible) based on current circumstances.

One of the most prominent characteristics of the financial markets that I’ve detected over the years is their tendency to obsess over a single topic at a given point in time. Today it’s the recent string of episodes in sub-investment grade credit.

As the Federal Reserve continues to cut rates, the yields on money market funds are on a decline. For investors who prioritize safety, liquidity, and enhanced income, low duration bond strategies present a compelling solution. These strategies offer a balanced approach to navigating the current financial landscape.