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$FMKT: What 2025 Deregulation Signals Tell Us About 2026 and Beyond
In early 2025, Washington reversed course after years of expanding regulation. The White House’s new executive order—dubbed the “10-for-1 Rule”—requires agencies to repeal ten regulations for every new one introduced¹. The intent is explicit: shrink the regulatory state and drive compliance costs below zero². For
Global View
Highs and Lows in a “Goldilocks” Finale
Key Highlights * Markets are embracing a soft-landing narrative as central banks pivot toward easing, even as labor markets loosen and growth signals become more uneven beneath the surface. * The Federal Reserve’s rate cuts have supported risk assets, with cooling inflation and rising unemployment giving policymakers room to ease
Weekly Signals
Value vs. Growth: Signs of a Long-Awaited Turn
Key Highlights * Large-cap value appears to have bottomed against large-cap growth, ending a multi-year stretch of relative underperformance and signaling a potential shift in market leadership. * Valuation extremes favor value stocks, with discounts versus growth near historically rare levels, increasing the odds of sustained mean reversion if
Newsletter
$FMKT: Deregulation as Macro Catalyst
A political leader cutting through a stack of red tape may seem symbolic, yet in a slowing economy it signals something deeper: a policy pivot toward growth through deregulation¹. When interest rates are near historic lows and fiscal tools are constrained by deficits and politics, easing regulations can act as
Newsletter
$FMKT: Why Regulators Are Pausing or Pulling Back AI Oversight Efforts
It wasn’t long ago that Washington appeared ready to tighten controls on artificial intelligence. Lawmakers held headline-grabbing hearings, agencies floated new guardrails, and the policy world seemed braced for a sweeping federal framework. That momentum has shifted. Instead of pushing ahead, regulators across the federal landscape are slowing
Closing Thoughts for the Week
Fed Cut, Tight Credit, and a Market Priced for Certainty
Beneath flat indexes, capital is already repositioning for 2026.
Macro Observations
Prediction Markets vs. Traditional Investing: Disruptive Innovation or Threat to Market Integrity?
Key Highlights * Prediction markets are expanding rapidly, transforming political, economic, and sports outcomes into tradable contracts that increasingly resemble financial instruments rather than casual wagers. * The line between investing and gambling is blurring, particularly for younger market participants who move seamlessly between trading apps and event-based betting platforms. * Supporters
Global View
Year-End Divergence and a Broadening Rally
Key Highlights * Central bank divergence intensified into year-end. The Federal Reserve signaled a pause after its latest cut, while the Bank of Japan tightened further and European policymakers leaned toward stability rather than additional easing. * Market leadership broadened meaningfully. Small-cap and cyclical stocks outperformed as investors rotated away
Leaders-Laggards
Platinum’s Perfect Storm: Why Select Miners May Lead the Next Precious-Metal Cycle
After spending much of the past decade in relative obscurity, platinum has re-emerged as one of the strongest performers in the precious-metals complex. Since late 2024, prices have risen sharply, outpacing both gold and broader equity markets as investors return to hard assets amid persistent inflation and rising
Newsletter
Happening Today: Fixed & Equity Income Strategies for 2026
Live Webinar with Jay Hatfield of Infrastructure Capital
Newsletter
Fixed & Equity Income Strategies for 2026
A Live Webinar with Jay Hatfield of Infrastructure Capital