It’s been a strange year for the U.S. stock market. Despite a wave of new tariffs and persistent warnings about valuation, the S&P 500 keeps breaking records. What’s behind this resilience? The answer, it turns out, is a mix of robust corporate earnings, sector-wide growth, and unshaken faith in the future of artificial intelligence. Corporate…
Read more
June PPI: A Tale of Two EconomiesThe latest Producer Price Index (PPI) report from the Bureau of Labor Statistics shows a clear divergence: while overall prices remained flat in June (0.0% MoM), the details tell a more nuanced story. Goods prices rose +0.3%, while services prices declined –0.1%, a reflection of America’s dual-track inflation story.…
Read more
America stands at a fiscal crossroads. With the national debt soaring past $36 trillion and structural reform stymied by political gridlock, the risk of long-term stagnation is real. But the answer isn’t austerity or fear; it’s strategic, inclusive, and innovation-driven growth. I’m proud to announce the release of my latest book, Escaping the Deficit Trap:…
Read more
Today’s Consumer Price Index report revealed a 2.7% year-over-year increase in June CPI, up from 2.4% in May, with headline CPI rising 0.3% month-over-month and core CPI (excluding food and energy) at 2.9% annually. Key Insights and Implications: 1. Tariff Pass‑Through in Progress – The rollout of 2025 tariffs is now showing up in core…
Read more
This morning’s jobs report looks upbeat at first glance; 147,000 new jobs, 4.1% unemployment—but the headline barely scratches the surface. A few things stand out:• The private sector added just 74,000 jobs, its weakest showing in eight months. ADP actually reported a loss of 33,000 private-sector jobs in June. Most of the growth (about 73,000…
Read more
The Federal Reserve’s latest update paints a sobering picture for the U.S. economy; one that’s hard to ignore if you follow macro trends. In today’s June 18 projections, the Fed dialed back its growth outlook for 2025: real GDP is now expected to rise just 1.4%, a major slowdown from last year’s 2.5%. At the…
Read more
We’re thrilled to share that Dr. Gandevani’s keynote address from TSAM Boston 2025 is now accessible in a downloadable PDF format. This paper takes a deep dive into the evolving nature of the United States’ Country Risk Premium (CRP) and its profound implications for global asset management. In an era of systemic fiscal, political, and…
Read more