Private credit is a key pillar of debt capital formation alongside public credit markets and bank balance sheets. But an important part of its value proposition—to borrowers and end investors—is its illiquidity relative to public markets. That distinction is by design, and we think it should stay that way.
The Fed simultaneously needs to hold interest rates higher (and arguably raise them) to deal with increasing inflation pressure while also needing to cut interest rates due to the massive Debt Black Hole warping the economy.
Economic dislocations create opportunities. While many market watchers are seriously concerned about the microshifts in markets and stocks, others may see the opportunities that emerge when oil prices spike.
Engaging with client family members may seem tricky, but it can start with simple questions to the client first. In fact, asking your client about the personalities and desires of their loved ones may be a way of deepening your understanding of your client’s financial needs.
Join the experts at VettaFi for a 30-minute discussion on the investment opportunities related to nuclear’s expanding supply chain and what governments are doing to support this growth.
Nate Geraci hosted a live ETF Prime episode from the Exchange conference in Las Vegas. The panel featured discussions on active ETFs and industry trends with Dimensional’s Wes Krill, and a roundtable of experts.
Alphabet Inc.’s Google is moving ahead with plans for a major data center in Michigan that features a 20-year electricity contract requiring it to cover the full expense of adding a haul of new clean power.
The federal funds rate will remain 3.5% to 3.75%. The 'dot plot' still projects a single rate cut this year, and the Fed sees slightly stronger economic growth and inflation.
Gold sank for a seventh session as the escalating war in the Middle East drove oil prices higher and reduced prospects for a US interest-rate cut in the near term. Silver slumped more than 10%.
Japan’s equity investors will closely watch a meeting between President Donald Trump and Prime Minister Sanae Takaichi in Washington on Thursday for possible agreements on economic and military cooperation.
JPMorgan Asset Management is issuing its first Taiwan-focused wealth management product in more than a decade, joining global rivals rushing into one of Asia’s hottest exchange-traded funds markets.
For ultra-high-net-worth families, the landscape of wealth stewardship is evolving. As the largest intergenerational transfer of capital in history unfolds, women are increasingly shaping the future of family wealth—not only as inheritors and beneficiaries, but also as creators of wealth, entrepreneurs, investors, and leaders guiding multigenerational strategy.
The FOMC held the fed funds rate at 3.50%–3.75% for a second straight meeting as policymakers weigh slowing growth, persistent inflation, with core PCE at 3.1%, and geopolitical uncertainty from the Middle East.
The wealth transfer didn’t create a new problem; it exposed one advisors have postponed for decades.
China’s underappreciated equity market and energy resilience amid current geopolitical tensions warrants consideration, according to Franklin Templeton ETFs’ Dina Ting. In this article, she discusses the different factors that underpin her views.
Royce Investment Partners: Co-CIO Francis Gannon discusses how US small caps remain market leaders even as volatility and uncertainty are on the rise.
Despite gold’s sideways performance in recent weeks, UBS still expects gold to gain 20 percent from its current price this year.
Now that investors are aware of withdrawal limits, they’ll have a greater incentive to always ask for the maximum, requiring further asset sales that will depress returns — which, in turn, will encourage more withdrawals.
Outsourced chief investment officer (OCIO) relationships have evolved dramatically. What once teed up primarily as a solution for smaller institutions seeking a roadmap to improving their governance, strategy and execution is now being adopted by much larger asset owners.
Historically, major geopolitical or economic crises, such as the war against Iran, have prompted investors to sell riskier assets and buy “safe-haven” investments whose values were expected to remain stable or even rise amid the disruptions.
Rob Arnott, founder & chairman of Research Affiliates, took part in a session at Exchange 2026 to discuss this, his views on growth opportunities, and more. Roxanna Islam, CFA, CAIA, head of sector & industry research at VettaFi, moderated the session.
Federal Reserve officials left interest rates unchanged and continued to expect one rate cut this year as they acknowledged increased uncertainty due to war in the Middle East.
The advisors who build the strongest client relationships aren't necessarily the ones with the most resources. They're the ones who help clients feel the value of those resources consistently. You have more to offer your clients than you're probably telling them. Be bold. Tell the story.
If someone has deeply entrenched views — either to the right or to the left — they are not likely to change their minds because they listened to you. You could definitely offer some education here by talking about the long-term impacts of this war.
What moves clients — what really motivates them — is insight. Insight into their fears, their hopes, their priorities. Numbers are important. Reports are necessary. But insight is where you create impact. Insight is what turns hesitation into action, anxiety into confidence, and confusion into clarity.
The recent 30% surge in crude oil prices has led many observers—drawing on memories of past energy crises—to immediately warn of recession. That may ultimately prove correct, but we’re cautious about narrative-driven, back-of-the-envelope predictions.
The European Union has unveiled a red-tape-cutting plan dubbed “EU Inc.” to boost the emergence of companies that could compete on the world stage with US and Chinese rivals.
There’s been no love lost between builders and buyers in the entry-level housing market over the past five years. Good news for one was invariably bad news for the other. But we finally seem to be hitting a sweet spot where both sides can be cautiously optimistic.
It’s been a volatile stretch for US equities as Wall Street tries to wrap its arms around the war in Iran. But with the fighting now in its third week, investors are becoming more sanguine about the stock market as signs emerge that the worst may be over.
US stock futures extend a two-day rally as investors remain cautiously optimistic amid rising energy prices and before the Federal Reserve’s interest-rate decision.
It took a war in Iran to reveal the full extent of billionaire Mukesh Ambani’s sway over the White House — and his centrality to mending the frayed US-India bilateral relationship.
In this commentary, I’m not going to try to predict any outcomes or long-term effects but rather want to cover how markets have reacted so far and highlight some opportunities that have been created.
Investigation of Federal Reserve chair hits an obstacle, while the Department of Homeland Security remains shut down amid funding standoff.
As has been the case from day one when the first airstrikes began, the key factor in assessing economic and market impact is the duration of the effective Strait of Hormuz closure and resulting effects on prices of energy and other commodities. Prediction markets are split on whether the conflict ends by the end of May.
In this month’s Allocation Views, healthy earnings growth is disguising a bifurcation that has resulted in particularly challenging earnings expectations for large-cap growth stocks in 2026.
If you have been thinking about a move, the chaos outside your window is not a reason to stop. It might be the best reason to start.
Five techniques can help human experts tame hallucinations and make models more effective.
The Qualified Opportunity Zone (QOZ) program is entering a pivotal transition period, with some legacy incentives expiring this year and a redesigned framework set to take effect next year.
Comparing business-cycle-related primary trends of the falling 2-year Treasury yield shows that this is the slowest business cycle since WWII. I argue the slowness of this cycle is evidence of the 6+% average pro-cyclical fiscal deficit over the last three and a half years.
For decades, the 60/40 portfolio was the gold standard for balanced investing. However, as correlations between stocks and bonds fluctuate and traditional safe havens face new pressures, advisors are looking toward alternatives to increase portfolio efficiency.
With 2026 now in full swing, it’s time to announce the global podium for robotics — brought to you by the ROBO Global Robotics and Automation Index (ROBO).
Understanding how traditional RIA growth models have evolved is essential for advisors making deliberate decisions about the structure, scale, and long-term direction of their firms.
Money is one of the most emotionally charged topics there is. It can evoke deep emotions like fear, shame, and anger. The good news is that couples can learn to talk about money without starting a fight. Here are some strategies that can help.
Individuals who haven’t yet taken the plunge into full-time entrepreneurial pursuits, are often surprised by the onslaught of new costs they’ll be responsible for when making the transition from W-2 salaried employee to self-employed, one advisor shares.
JPMorgan Chase & Co. is leading a push by Wall Street banks to offload risky loans for acquisitions. The latest is a $2 billion debt sale to finance the purchase of asset manager Janus Henderson Group Plc by Nelson Peltz’s Trian Fund Management and General Catalyst.
Every financial crisis has a moment — usually identified only in retrospect — when an obscure product intended to mitigate risk spreads through what author Rick Bookstaber called “tightly coupled” interconnections to cause widespread damage.
Morgan Stanley is sticking with a forecast that sees the Federal Reserve resuming interest rates cuts in June and delivering another reduction in September, even as soaring oil prices prompt traders to curb bets for how much policymakers will lower borrowing costs this year.
US stock futures rose Tuesday as investors buy the dip, signaling confidence in the markets even as Iran war tensions escalate.
The Federal Reserve is about to give America’s biggest lenders an extra $200 billion of capital to play with. Later this week, US regulators will launch fresh proposals to update and, in some ways, loosen US capital rules that will fuel stock buybacks, lending and trading.
The word 'equilibrium' is an invitation to recognize that nothing exists by itself, alone. Subject and object are two sides of the same coin – their interaction is a single phenomenon. That perspective can offer a great deal of insight about economics, financial markets, speculative bubbles, passive investing, and nearly everything in existence.
