Brian Stewart

that we might have these interest rates even through the rest of 2025. Though by and large, stocks took it in stride. There was a sizable dip as the news came out at the opening of trading and then the recovery. And as we said on Thursday, we're now higher than we were before the news came out. So by and large, it's been kind of shrugged off.

that we might have these interest rates even through the rest of 2025. Though by and large, stocks took it in stride. There was a sizable dip as the news came out at the opening of trading and then the recovery. And as we said on Thursday, we're now higher than we were before the news came out. So by and large, it's been kind of shrugged off.

that we might have these interest rates even through the rest of 2025. Though by and large, stocks took it in stride. There was a sizable dip as the news came out at the opening of trading and then the recovery. And as we said on Thursday, we're now higher than we were before the news came out. So by and large, it's been kind of shrugged off.

But I think if you're an investor, you're kind of looking longer term. impact on consumer impact, on businesses' ability to borrow, things like that. It is definitely something to keep an eye on.

But I think if you're an investor, you're kind of looking longer term. impact on consumer impact, on businesses' ability to borrow, things like that. It is definitely something to keep an eye on.

But I think if you're an investor, you're kind of looking longer term. impact on consumer impact, on businesses' ability to borrow, things like that. It is definitely something to keep an eye on.

The impact on individual sectors, I would look to the traditionally interest rate sensitive sectors. So REITs is a good example of a sector that moves in accordance to how interest rates are looking. The home builders and other housing stocks are another indication. If it's becomes more difficult for those companies to book revenue and therefore can affect their bottom line.

The impact on individual sectors, I would look to the traditionally interest rate sensitive sectors. So REITs is a good example of a sector that moves in accordance to how interest rates are looking. The home builders and other housing stocks are another indication. If it's becomes more difficult for those companies to book revenue and therefore can affect their bottom line.

The impact on individual sectors, I would look to the traditionally interest rate sensitive sectors. So REITs is a good example of a sector that moves in accordance to how interest rates are looking. The home builders and other housing stocks are another indication. If it's becomes more difficult for those companies to book revenue and therefore can affect their bottom line.

So I would keep an eye on those things. I would keep an eye on the treasury market as well. There's kind of the feeling that the treasury traders are the smartest traders on the financial markets. And so you can kind of get a pretty good idea of what the street thinks generally of the prospects for inflation and other aspects based on the movement. in treasuries.

So I would keep an eye on those things. I would keep an eye on the treasury market as well. There's kind of the feeling that the treasury traders are the smartest traders on the financial markets. And so you can kind of get a pretty good idea of what the street thinks generally of the prospects for inflation and other aspects based on the movement. in treasuries.

So I would keep an eye on those things. I would keep an eye on the treasury market as well. There's kind of the feeling that the treasury traders are the smartest traders on the financial markets. And so you can kind of get a pretty good idea of what the street thinks generally of the prospects for inflation and other aspects based on the movement. in treasuries.

And then secondarily, I think it's interesting, another news point this week was Powell appearing in a semiannual testimony on Capitol Hill. Those conversations didn't have a lot to do with inflation. I mean, they had sort of the normal amount, but there was also a lot of conversation just about sort of the intersection of the Fed and the new administration.

And then secondarily, I think it's interesting, another news point this week was Powell appearing in a semiannual testimony on Capitol Hill. Those conversations didn't have a lot to do with inflation. I mean, they had sort of the normal amount, but there was also a lot of conversation just about sort of the intersection of the Fed and the new administration.

And then secondarily, I think it's interesting, another news point this week was Powell appearing in a semiannual testimony on Capitol Hill. Those conversations didn't have a lot to do with inflation. I mean, they had sort of the normal amount, but there was also a lot of conversation just about sort of the intersection of the Fed and the new administration.

The Trump administration has been much more kind of aggressive in stating its opinions about interest rates, specifically that they should be lower. And I think that it'll be an interesting kind of dance to watch the machinations between a supposedly independent Fed and the White House.

The Trump administration has been much more kind of aggressive in stating its opinions about interest rates, specifically that they should be lower. And I think that it'll be an interesting kind of dance to watch the machinations between a supposedly independent Fed and the White House.

The Trump administration has been much more kind of aggressive in stating its opinions about interest rates, specifically that they should be lower. And I think that it'll be an interesting kind of dance to watch the machinations between a supposedly independent Fed and the White House.

You had also asked about tariffs, and I think that's something that's making it much murkier when you look into sort of the crystal ball of inflation. You have sort of the normal pressures that the Fed is dealing with in terms of the economic pressure. causes of inflation.

You had also asked about tariffs, and I think that's something that's making it much murkier when you look into sort of the crystal ball of inflation. You have sort of the normal pressures that the Fed is dealing with in terms of the economic pressure. causes of inflation.