As of late October 2025, the U.S government remains in the second-longest shutdown in its history. This standstill has disrupted pay for workers, stopped government services, and has halted the release of key economic indicators that investors and policymakers rely on.

This week, U.S. bond and equity markets moved higher on Fed easing expectations, favorable inflation data, and double-digit earnings growth (so far).

The 3Q 2025 earnings season is off to a solid start. With 12% of S&P 500 companies having reported, 86% have exceeded earnings expectations, and 84% have surpassed revenue forecasts. The blended year-over-year earnings growth rate stands at 8.5%, which, if sustained, would mark the ninth consecutive quarter of growth.

As the government freeze stalls new issues, pent-up demand may spark a flurry of activity once the IPO market reopens. Here’s why the government shutdown has also halted IPOs, and what it could mean for savvy equity investors.

In 2025, the U.S. economy has shown resilience despite challenges from government policies. While inflation has eased, it remains elevated due to ongoing tariff-related pressures, and the labor market is in a period of low hiring, low firing.

Japan’s Nikkei 225 index surged 6.7% over the past week, hitting record highs following the ruling party’s selection of pro-business Sanae Takaichi as its new leader. Are you too late to catch the rally? Let’s take a look.

Despite the numerous headlines around potential stagflation and recession, the U.S. economy continues to show signs of strength and stability. While growth has cooled from its post-pandemic highs, the data points to a controlled normalization. Here’s what’s happening, and what it means for your portfolio...

Despite significant market volatility and policy shifts, the U.S. economy enters a new paradigm with a solid foundation.

With 4Q24 earnings on track to grow 17%, and 10 out of 11 sectors delivering positive performance, our portfolios are currently in base positioning.

While investors grapple with continued geopolitical uncertainty, we maintained the base positioning in our Global Perspectives portfolios.