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Weekly Market Commentary

Finding Value Among the Muni Market Malaise | Weekly Market Commentary | May 5, 2025
The municipal bond market faced significant volatility in April, driven by spillovers from a turbulent Treasury market. Treasury yields were pressured higher by rising inflation expectations; the Federal Reserve’s cautious policy stance, reduced foreign demand; hedge fund deleveraging, portfolio shifts toward cash, and structural illiquidity.

Softer Tone on China Is Encouraging, but Some Caution Still Advised | Weekly Market Commentary | April 28, 2025
The softer tone toward China from the White House, President Trump’s pledge not to fire Federal Reserve (Fed) Chair Jerome (Jay) Powell, and renewed optimism about Fed rate cuts all helped drive a strong market rebound last week.

Revising Our S&P 500 Target Amid a Storm of Uncertainty | Weekly Market Commentary | April 21, 2025
With little visibility into where tariff rates shake out and the effects on earnings, it’s hard to have much conviction in a year-end S&P 500 target. Given the high degree of uncertainty, we use scenarios and a wider range to get more comfortable with our target and to increase our odds of accuracy (though we recognize these targets are more art than science).
Recent Posts
Finding Value Among the Muni Market Malaise | Weekly Market Commentary | May 5, 2025
Softer Tone on China Is Encouraging, but Some Caution Still Advised | Weekly Market Commentary | April 28, 2025
Revising Our S&P 500 Target Amid a Storm of Uncertainty | Weekly Market Commentary | April 21, 2025
Decent Chance Stock Market Bottom Is in but Far From Certain | Weekly Market Commentary | April 14, 2025
Tariff Uncertainty Facing Stocks to Start Clearing Soon | Weekly Market Commentary | March 31, 2025
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