Inflation, Consumer Credit, DeepSeek
The first inflation print of the year came in hotter than expected. There may be more of the same ahead, according to both market and sentiment-based indicators. U.S. consumer credit saw its largest...
Artificial Intelligence Doesn’t Appear Ready to Take Over the World Yet
AI tools like ChatGPT have wowed us, but are they truly revolutionary like the automobile or television? Learn why current AI models face data and architectural limits, what this means for businesses, and why AI isn’t ready to take over the world—yet.
Today’s AI Investment Boom in the Context of History
How short-term bubbles can lead to revolutionary innovation and in turn, long-term economic growth. We anticipate the AI investment boom to follow the same patterns we’ve seen throughout history. Last Thursday, Nvidia...
Will Old Risks Return in the New Year?
2025 is off to an exciting start. Will the historical analogies hold true, or will 2025 be a year all its own? Companies are extremely optimistic about the future, but sometimes actions speak louder...
Holiday Travel, Santa Claus Rally, Government Efficiency
The holiday season is in full swing, and Americans are on the move. Thanksgiving set a record for TSA traveler throughput. A “Santa Claus” rally is also well underway, sending prices for risk assets...
The Election, Interest Rates, Nuclear Energy
Donald Trump is heading back to the White House in 2025. While the outcome was more widely anticipated than in 2016, it still sent waves through financial markets. Stocks hit new all-time highs as interest rates and the dollar rose. The jump in...