Integrated Capital management
Commentary
What’s Driving Rates Up and Bonds Down?
As we round the three-quarter pole and head into the final stretch of 2026, the prevailing investment narrative has, of course, been AI, along with its pros and cons. Since March, when the Iran conflict began, there has been a secondary drumbeat that continues to get louder and louder: the narrative surrounding bond prices, interest rates, inflation, and the economy.
Commentary
Q3 2025 Market Insights Letter: End of an Era?
For investors, 2025 has not gotten off to the start that many had envisioned. Many will assume that I’m referring to political turmoil relating to tariffs or spending cuts by the Department of Government Efficiency (DOGE) and the corresponding market spillover.
Commentary
Stocks Cheap? Not so Fast!
Markets seem to have forgotten that which ailed us just 4 months ago. Talk of another Lehman style meltdown by a major financial institution has given way to positive earnings results, record profit margins and a much publicized recovery in the US. Equities, have now taken center stage once again with many major asset management firms proclaiming their attractive nature. Over the course of the next few paragraphs, we will examine this argument in greater detail by deconstructing equity market returns into component pieces.
