Israel-Iran hostilities brought a short-term market focus on oil. Longer term, artificial intelligence (AI) electricity needs could create a power shortage, as well as opportunities and risks for investors.
Tax policy may continue to be a factor in the second half of the year, although Congress looks likely to maintain current tax brackets and the muni tax exemption.
We continue to suggest an "up in quality" fixed income bias for the short run, but investors can still consider some of the riskier parts of the fixed income market in moderation.
Inflation's trend has been favorable this year, but a growing conflict in Iran—combined with already-imposed tariffs—might put upward pressure in prices later this year.
The One Big Beautiful Bill being debated in Congress has huge implications for every taxpayer as well as the markets. What’s in the bill, and what will it mean for investors?
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Fixed Income: Frequently Asked Questions
Congress Approves Massive Tax and Spending Bill
Energy: Global Excess or Shortage of Power?
Municipal Bonds: Mid-Year 2025 Outlook
The Markets Shrug at Geopolitics, for Now
Corporate Bonds: Mid-Year 2025 Outlook
What's Going On…With Inflation
One Big Beautiful Bill: Implications for Investors
Supply Chain Messages About the Trade War