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
On May 16, 2025, Moody’s Investors Service downgraded the U.S. Treasury’s credit rating from Aaa to Aa1, sending a clear signal: doubts about America’s long-term fiscal health and political gridlock are getting too big to ignore. For decades, U.S. Treasuries were as close to “risk-free” as it gets, but that reputation is looking shakier by…
Read more
We’re honored to have Ned Gandevani, MBA, Ph.D., Economist, Fund Manager, Financial Strategist, and Harvard Business School faculty member join us as one of the headline speakers at TSAM Boston on June 2nd, at the Renaissance Boston Seaport Hotel. With global markets navigating volatility, geopolitical risk, and inflationary pressure, Dr. Gandevani will deliver must-hear insights…
Read more
Recent sell-offs in U.S. equities, Treasuries, and the dollar have sparked fresh debate about American exceptionalism. Market skeptics see each dip as evidence of decline. But they’re missing something crucial: American economic dominance isn’t built on daily price swings—it’s woven into the very fabric of global finance.Let me show you why talks of America’s economic…
Read more
The latest University of Michigan Consumer Sentiment Index and Bloomberg’s 5–10-year inflation expectations offer more evidence that the U.S. economy may be headed toward stagflation—a troubling mix of slowing economic growth and persistent inflation.• Consumer sentiment continues to decline, signaling reduced confidence in the economic outlook.• At the same time, long-term inflation expectations have hit…
Read more
The markets are speaking, and they’re speaking loudly. Since the April 2nd tariff announcements, we’ve witnessed a significant shift in global trading patterns that’s raising eyebrows across trading floors. What’s driving this? Three key factors:• Growing uncertainty around U.S. trade policies• Questions about USMCA agreement stability• Accelerating trend of international markets decoupling from U.S. dependencies…
Read more
Last week, something unusual happened in the financial markets. Actually, “unusual” might be an understatement – we witnessed something that’s about as rare as a triple rainbow. The U.S. stock market, bond market, and dollar all took a nosedive at the same time.Why should you care? Because the last time this happened, it preceded major…
Read more
I am pleased to announce the publication of The Alternative Investment Handbook: A Comprehensive Guide to Analysis and Valuation Methods. This 470-page volume represents the culmination of two years of extensive research into alternative investment vehicles and their practical applications. The handbook provides an in-depth examination of three critical sectors: private credit markets, real estate…
Read more
In light of Federal Reserve Chair Jerome Powell’s recent announcement indicating a downward revision of U.S. economic growth to 1.7% and an upward adjustment of the inflation forecast to 2.7% for this year, investors are increasingly concerned about the potential onset of stagflation—a scenario characterized by sluggish economic growth and elevated inflation.Constructing a resilient investment…
Read more
The market, like any complex adaptive system, tends to create its own momentum. What we’ve witnessed since January 2025 – and particularly during yesterday’s sharp decline on March 10 – offers a fascinating look at how internal market dynamics can amplify external shocks. Understanding the Market’s Internal State Before examining the external triggers, let’s consider…
Read more