Fed chair Warsh’s first meeting kept rates steady but struck a hawkish tone on inflation while signaling less transparency, driving market uncertainty.
In our view, municipal bonds may offer attractive tax-efficient income potential, though elevated supply, an uncertain rate backdrop, and issuer dispersion may pose risks.
Equity markets should remain supported by strong earnings and capital investment trends through 2026, but market concentration and macro risks leave less room for error.
For the bond market in the second half of 2026, income still matters, but investors should be selective. Now is not the time to favor long-duration investments.
Find Market Commentary content
Reading the Markets After Fed Chair Warsh’s Debut
Sample Fundamental Value Investing Plan
2026 Mid-Year Outlook: Municipal Bonds
2 Minutes on the Markets | Fixed Income Insights
Midyear Outlook for Equities & Fixed Income
What Is a Meme Coin? Risks, Regulation, and More
What is an IPO? Initial Public Offerings Explained
2026 Mid-Year Outlook: Global Equity
2026 Mid-Year Outlook: Taxable Fixed Income