Capital markets are finally making some constructive progress following two tumultuous months. After a gradual descent following its February 19 peak, the U.S. stock market accelerated to the downside once the calendar flipped to the second quarter and the Liberation Day trade war was underway. But following a series of steps by the U.S. to scale back their initial trade …

“Combien, combien, combien de temps?” –R.E.M., Talk About the Passion, 1983 It has been a difficult stretch for capital markets for a couple of months now.  And as we emerge from our Easter/Passover holiday weekend celebrations, investors are left to wonder how much longer will the turbulence that has enveloped capital markets persist as we continue through the spring and into …

It has been a tumultuous second quarter so far. After only nine trading days, we have seen U.S. stocks as measured by the S&P 500 plunge by more than -15% peak-to-trough in the wake of the “Liberation Day” tariff announcements, only to find their footing and battle their way back since. Although the tariffs for most countries have been paused …

Liberation Day has arrived for the United States.  Unlike in most other countries where it is celebrated in reflection of the end of a past war or the dawn of a new revolution, Liberation Day in the U.S. as it has come to be known is the declaration of promised tariffs to free the country from the import of foreign goods.