In the past, we've used the phrase "see the forest for the trees," and that's probably never been more relevant than today. The current environment presents extraordinary levels of market noise – trends that appear sustainable but aren't, fundamentals that seem weak but prove resilient, and policy impacts that look benign but carry meaningful consequences. […]
Just a few months removed from our spring note in April, we find ourselves navigating a significant shift in the financial landscape. The focus has moved from inflation to growth, narrowing those potential paths we outlined from three to two. The market is now grappling with two potential outcomes in what we call a "growth […]
Markets across the world closed out the first half of 2023 on a pretty good note, rebounding a good bit from the declines of last year. Sure, interest rates have increased a lot as the Federal Reserve tries to battle inflation, but put simply: the economy is resilient as it normalizes from the bullwhip effects […]
What a crazy first six months of the year in markets. Stocks and bonds are materially lower, interest rates have been on the rise, volatility is very high, inflation fears, recession talk…all while the job market is still humming along and airport parking lots are completely full! It’s a very confusing environment to say the […]
One of Doxa’s axioms is “every number has a story and every story can be told in numbers.” It’s a good one to live by given the many narratives we sift through daily – the sheer volume of information in our digital age is like drinking from a fire hose. For us, everything is about […]
