Trades & Tides
Alex: Hello everyone and thank you for joining us for this edition of our bi-weekly commentary. I'm here with my partner, Tom Boh. Kelly is out this week but sends her best from Hawaii 🌺.
Looking ahead to September, it’s shaping up to be an interesting month. Markets are currently pricing in a greater than 50% chance of a Fed rate cut. The Fed faces a tough decision, especially with a recent cooling jobs report, ongoing trade and tariff negotiations, and pressure from the administration—possibly even to replace Jerome Powell as Fed Chair.
With that, I’ll hand it over to Tom.
Tom:
Thanks, Alex. I just want to highlight that despite ongoing geopolitical tensions and trade uncertainty, U.S. markets continue to climb. The S&P 500 and NASDAQ have hit new highs, though gains remain concentrated in a few large-cap names. Volatility has dropped sharply, but market leadership is still narrow, so we’ll need to see how that evolves.
Today marks the start of earnings season, and we’ll keep you updated as reports come in.
On behalf of our team, we wish you a great summer. Keep an eye out for upcoming “save the date” emails in the next couple of weeks.
As always, take care until next time.
Mid Year Outlook
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Its Back... Summer Happy Hour Series!
Thank you to everyone who joined us last week for our first summer happy hour! We had a wonderful turnout and we’re already planning our next gathering. SAVE THE DATE: We hope to see you on August 21st!