Jackie Bowie featured in IFR on inflation hedging amid market volatility

Stocks edged lower as investors rotated out of technology, while Treasuries rallied on flight-to-safety demand. Despite firm inflation data, the 10-year Treasury yield fell to four-month lows as markets weighed cooling growth, labor data uncertainty, and renewed questions around tariff policy.

The Supreme Court’s recent tariff decision was expected to bring clarity, but markets barely moved. In conversations with clients and across equity, rates, and FX markets, the reaction was notably muted. Unlike the volatility seen on Liberation Day, this ruling did not trigger a broad repricing...

As growth cools and inflation progress stalls, markets are recalibrating rather than retreating. A landmark tariff ruling reduced one inflation risk, while Fed officials underscored a higher bar for easing. Our latest update unpacks the data, policy signals, and implications for capital markets.

With new leadership at the Federal Reserve, rising interest rates in Japan after decades of ultra-loose policy, and changing monetary cycles across major economies, the foundations that have supported markets for years are being tested. At the same time, geopolitical realignment, fiscal...

A sharp equity sell-off pushed the S&P 500 back into negative territory for the year, reversing early gains and underscoring growing uncertainty around growth, labor conditions, and inflation. We examine what drove the pullback and the signals markets are watching next.

Mixed macro signals drove a volatile week, as softer labor data and shifting rate expectations unsettled markets even as risk appetite intermittently returned. Technology and crypto-linked assets bore the brunt of the repricing, highlighting growing sensitivity to capital spending and financing...

The Bank of England’s (BoE) Monetary Policy Committee (MPC) narrowly voted 5-4 to leave rates unchanged at 3.75%, with four members preferring a 25 basis point (bp) cut to 3.50%. Markets had expected a 7-2 vote, and the narrower margin quickly led investors to price in the higher probability of a...

Markets were choppy as the Fed held rates steady and signaled patience. President Trump nominated Kevin Warsh to succeed Chair Powell. Gold, silver, and oil climbed and then fell, equities edged higher, and investors now turn to jobs data for direction amid leadership uncertainty globally.