Newsletter
Key Takeaways * Washington’s post-2024 policy pivot is setting the stage for a broader deregulatory cycle, easing barriers across banking, energy, and industrial sectors. * Early signals—from FDIC merger-review rollbacks to faster energy-permit approvals—suggest conditions are forming for a potential M&A acceleration. * Investors are
Weekly Signals
Bitcoin’s sharp decline in November 2025 revived a familiar debate: whether crypto weakness is an early warning for equities. Bitcoin had climbed above $125,000 in early October before losing roughly one-fifth of its value during November, its largest monthly drawdown since the 2021 crash.¹ Other tokens followed.
Newsletter
Newsletter
Closing Thoughts for the Week
Key Takeaways * Markets rallied despite weak economic data as investors revived the idea that “bad news is good news,” expecting the Federal Reserve to move toward easing. * Soft consumer spending, fading confidence, and early signs of labor-market cooling strengthened the case for a potential December rate cut. * Hopes for
Newsletter
Macro Observations
The idea that artificial intelligence would one day outsmart the stock market once felt inevitable. A machine capable of scanning decades of price history, parsing millions of filings, and learning every nuance of investor behavior seemed destined to outperform even the best human portfolio managers. Retail traders joined the excitement;
Newsletter
Award-Winning Research Delivered Daily
Newsletter
Leaders-Laggards
The biotech sector has found its footing again after several difficult years. The equal-weighted S&P Biotechnology ETF (XBI) has staged an impressive rebound, helped by a revival in risk appetite, firmer macro conditions, and a noticeable pickup in dealmaking. Investor sentiment toward innovation had been suppressed through
Global View
A year-end rally is gaining momentum as investors respond to cooler bond yields and a growing belief that the Federal Reserve is prepared to ease policy soon. Equity benchmarks have climbed toward record highs, helped by strong technology earnings and a broad pullback in Treasury yields. Nvidia’s latest
Newsletter