Quarterly Letter – Q2 2025: Powering On
July 18, 2025
Markets ended Q2 close to or above where they began – and were still climbing as the quarter closed – despite a series of extraordinary economic and geopolitical events.
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July 18, 2025
Markets ended Q2 close to or above where they began – and were still climbing as the quarter closed – despite a series of extraordinary economic and geopolitical events.
June 13, 2025
Israel’s sweeping attacks on Iran early on June 13 raised global risks. Markets reacted immediately. Oil prices rose. Money moved into traditional safe assets, including gold and – to some extent – the dollar and US Treasuries. But the risk off mood was not dramatic.
May 16, 2025
President Trump has said that he loves tariffs. He also loves deals. This week, equity markets cheered that the dealmaker triumphed over the tariff-lover – at least for the time being.