Market Commentary

Read the latest market insights by the HUB Investment Research Team.

[Video] Q2 2026 Economic and Market Commentary

Q2 Economic and Market Review In this quarterly update, Jay Sanford, Director of Investment Strategy at HUB Retirement & Private Wealth, is joined by Brian Collins, Chief Investment Officer, and Cameron Cooke, Executive Vice President, to discuss the economic and...

[Video] Q2 2026 Economic and Market Commentary

[Video] Q2 2026 Economic and Market Commentary

Q2 Economic and Market Review In this quarterly update, Jay Sanford, Director of Investment Strategy at HUB Retirement & Private Wealth, is joined by Brian Collins, Chief Investment Officer, and Cameron Cooke, Executive Vice President, to discuss the economic and...

[Video] Q2 2026 Economic and Market Commentary

Q2 Economic and Market Review In this quarterly update, Jay Sanford, Director of Investment Strategy at HUB Retirement & Private Wealth, is joined by Brian Collins, Chief Investment Officer, and Cameron Cooke, Executive Vice President, to discuss the economic and...

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Market Commentary: May 2026 Recap

Market Commentary: May 2026 Recap

LimelightRushLimelight Living in the limelight, the universal dreamFor those who wish to seemFor those who wish to be must put aside the alienationGet on with the fascinationThe real relation, the underlying theme When it comes to investing in the latest themes, there...

Market Commentary: April 2026 Recap

Market Commentary: April 2026 Recap

The Boys are Back in TownThin LizzyThe Boys are Back in Town Spread the word /Guess who’s back in town As the month neared the end, the research team was questioning what does it take to “break” the U.S. equity markets.  Starting with a global pandemic in 2020, the...

[Video] Q1 2026 Economic and Market Commentary

[Video] Q1 2026 Economic and Market Commentary

Economic Deck In this quarterly update, Brian Collins, Chief Investment Officer at HUB Retirement & Private Wealth (HUB RPW), recaps a turbulent quarter under the theme "The World Runs on Energy." Key Highlights: A quarter in three acts: January brought modest...

Market Commentary: March 2026 Recap

Market Commentary: March 2026 Recap

Deja VuCrosby, Stills, Nash & YoungDeja Vu If I had been here before /I would probably know what to do Two American icons, Mark Twain and Yogi Berra, have sayings that are attributed to them though actual records of their statements are hard to come by.  “History...

Comments on Latest U.S. / Israel Conflict with Iran

Comments on Latest U.S. / Israel Conflict with Iran

Overview The recent conflict that started on February 28, 2026 with the U.S. and Israel launching an offensive against Iran has rattled investment markets around the globe. Since the conflict started, U.S. equity markets have declined less than 1% and the U.S. 10YR...

Market Commentary: February 2026 Recap

Market Commentary: February 2026 Recap

Grimes, featuring HANAWe Appreciate the Power And if you long to never die/Baby, plug in, upload your mind/Come on, you’re not even alive/If you’re not backed up on a drive For a short month, February sure had a lot happen during its 28 days. Investors started the...

Market Commentary: January 2026 Recap

Market Commentary: January 2026 Recap

Tenth Avenue Freeze OutBruce SpringsteenTenth Avenue Freeze-Out I’m gonna sit back right easy and laugh / When Scooter and the Big Man bust this city in half / With the Tenth Avenue freeze-out January is often considered the bellwether month for the U.S. stock market....

[Video] Q4 2025 Economic and Market Commentary

[Video] Q4 2025 Economic and Market Commentary

Economic Deck In this quarterly review, Brian Collins, Chief Investment Officer at HUB Retirement & Private Wealth (HUB RPW), breaks down Q4 2025 performance and looks ahead to what 2026 may bring. Key Highlights: Strong finish to 2025: U.S. and international...

January 2026 Roundtable Summary

January 2026 Roundtable Summary

HUB Retirement & Private Wealth recently hosted its 2026 Investment Roundtable, a gathering of senior investment professionals from American Century Investments®, Apollo Global Management, and DWS Investment Management. During the Roundtable, the...

Market Commentary: December 2025 Recap

Market Commentary: December 2025 Recap

Don’t StopFleetwood MacDon't Stop Don’t stop thinking about tomorrow / Don’t stop, it’ll soon be here December is often a difficult month for many people as they juggle the often-unrealistic expectations of the impending holiday season, the challenges of meeting...

Markets Absorb Geopolitical Shock as Venezuela Events Unfold

Markets Absorb Geopolitical Shock as Venezuela Events Unfold

On January 3, 2026, the United States executed Operation Absolute Resolve, a large-scale military strike on Venezuela that resulted in the capture of President Nicolás Maduro and his wife, Cilia Flores. The operation involved more than 150 aircraft launching from...

Market Commentary: November 2025 Recap

Market Commentary: November 2025 Recap

Defying GravityWritten by Stephen Schwartz (2003)Defying Gravity Movie sequels often carry lofty expectations based on the success of the original. Fans are enthusiastic to find out how the story continues, who the next villain may be, or what unusual predicament the...

Market Commentary: October 2025 Recap

Market Commentary: October 2025 Recap

Mark Tremonti and Scott Stapp (1999) Higher The end of October is an interesting time for many. Those who love the fall season are drawn to the changing colors and crispness of the autumn air. For others, it is a time of transition towards winter and an awareness that...

[Video] Q3 2025 Economic and Market Commentary

[Video] Q3 2025 Economic and Market Commentary

At This Rate.. As we reflect on the latest quarter, one central theme emerges: investors are cautiously optimistic, yet still navigating an environment shaped by interest rate uncertainty and shifting economic data. The Federal Reserve’s decision to pause rates while...

Market Commentary: September 2025 Recap

Market Commentary: September 2025 Recap

‘Cause, everything’s right / So just hold tightThis crazy world / It turns, it turnsEverything’s RightPhish Back in June, the song for the Q2 commentary was the Beach Boys “Good Vibrations”, appropriate given the strong finish to the quarter after the brief Tariff...

Market Commentary: August 2025 Recap

Market Commentary: August 2025 Recap

Good TimeNiko Moon We just tryna catch a good time /Even if it takes all night With Labor Day falling on September 1st this year, it seems like Summer 2025 was shorter than it should be. Yes it was the same number of days as always, but it just seems shorter. Maybe it...

Market Commentary: July 2025 Recap

Market Commentary: July 2025 Recap

Going, Going, GoneLuke Combs Like the changing of the seasons /Good things, they come and then they go The end of July brought Lollapalooza weekend to Chicago.  A four-day music festival that welcomes bands with names such as Barry Can’t Swim, Zinadelphia, and Still...

[Video] Q2 2025 Economic and Market Commentary

[Video] Q2 2025 Economic and Market Commentary

Q2 2025 was shaped by the “Tariff Two-Step”—a swift policy reversal that triggered both a market drop and a quick recovery. Despite mid-quarter uncertainty, diversified investors saw strong gains by quarter’s end. On April 2, President Trump announced sweeping...

Market Commentary: Mid‑Year Market Check‑In

Market Commentary: Mid‑Year Market Check‑In

Good VibrationsBrian Wilson and Mike Love (1966) When Brian Wilson, the genius behind the music of the Beach Boys, passed away in June there were numerous retrospectives about his many talents, including his ability to create musical orchestrations that produced so...

June Market Commentary: Markets Search for Solid Ground

June Market Commentary: Markets Search for Solid Ground

Is “Everything gonna be alright”?Everything’s Gonna be Alright- David Lee Murphy and Kenny Chesney (2018) It would be naïve to think that one month of rallying US stocks would mean that markets are back on track and there is nothing to worry about. Remember that to...

Market Commentary: Staying Steady Amid the Swings

Market Commentary: Staying Steady Amid the Swings

“Oh my mama told me there'll be days like this...”- Days Like This by Van Morrison (1995) There is an old saying, “in like a lion, out like a lamb.” It is usually associated with the variability of spring time weather but in the case of April’s investment markets, it...

[Video] Q1 2025 Economic and Market Commentary

[Video] Q1 2025 Economic and Market Commentary

As we closed the first quarter of 2025, investors were met with a stark change in tone from the high-growth environment of the past two years. Rising volatility, shifting trade policies, and renewed concerns about recession created a market defined by uncertainty—and...

Tariffs, Turbulence, and the Power of Diversification

Tariffs, Turbulence, and the Power of Diversification

As expected, investment markets around the world responded to yesterday’s announcement by President Trump that new tariffs would be levied against all products imported into the US. The reactions across equity markets have largely been negative as investors and others...

Market Commentary: A Matter of Perspective

Market Commentary: A Matter of Perspective

“This world keeps spinning / And with each new day / I can feel a change in everything”“Well, it all keeps spinning, spinning ‘round and ‘round and upside down”- Upside Down by Jack Johnson (2006) In thinking about the investment markets over the last month and for...

March Market Commentary: Turbulence and Policy Uncertainty in Early 2025

March Market Commentary: Turbulence and Policy Uncertainty in Early 2025

Investment markets in the last three weeks have experienced heightened levels of volatility and reversals caused by multiple factors including the Trump administrations’ aggressive actions on tariffs and trade matters; the shift in foreign policy, particularly related...

February Market Commentary: A New Administration Gets Down to Business

February Market Commentary: A New Administration Gets Down to Business

A New Administration Gets Down to Business January Recap and February Outlook January seemed to go on forever, as the country faced extreme weather and devastating wildfires [1]. The new administration got underway with a lot of sound and fury, particularly around...

January Market Commentary: Seems Like Old Times?

January Market Commentary: Seems Like Old Times?

Seems Like Old Times? December Recap and January Outlook The inauguration of only the second U.S. president to win two non-consecutive terms (Grover Cleveland was the first) is historic by a host of measures. Starting a second term of office with the president’s party...

December Market Commentary:  A New Regime Comes Into Focus

December Market Commentary: A New Regime Comes Into Focus

A New Regime Comes Into Focus November Recap and December Outlook The transition to a new administration is underway with announcements of cabinet position nominees. The pro-business lean of the incoming government is not a surprise, and the emphasis is likely to be...

October Market Commentary A Volatile Start to the End of the Year?

October Market Commentary A Volatile Start to the End of the Year?

A Volatile Start to the End of the Year?  September Recap and October Outlook  September equity markets ended the month in positive territory, but with volatility increased. The VIX, the markets “fear index” closed higher than last month, at 16.73, up from 15.00....

September Market Commentary The Finish Line or the Starting Gate?

September Market Commentary The Finish Line or the Starting Gate?

The Finish Line or the Starting Gate?   August Recap and September Outlook As summer ends and September continues, attention is focused on the long-anticipated change in the Fed’s monetary policy, from holding rates steady to returning rates to lower levels. July and...

August Market Commentary  Too Late, Again?

August Market Commentary Too Late, Again?

August Market Commentary Too Late, Again? July Recap and August Outlook After weeks of Olympic-themed press reports about the Fed “sticking the (soft) landing” and safely guiding the economy to a place where inflation is coming down and growth is holding off...

July Market Commentary  A Disinflationary Trend Re-emerges

July Market Commentary A Disinflationary Trend Re-emerges

June Recap and July Outlook At the FOMC meeting in mid-June, the story was the drop in expectations for multiple rate cuts in 2024 to potentially only one rate cut later in the year. However, positive data around inflation and labor markets appears to have...

June Market Commentary  A Fragile Balance at the Mid-Point of the Year

June Market Commentary A Fragile Balance at the Mid-Point of the Year

May Recap and June Outlook May saw a return to more confidence in the economy and the markets. The Fed met early in the month, and Chairman Powell managed to curb market pessimism by stating that it was unlikely that the Fed’s next move would be a rate hike. The...

May Market Commentary: A New POV Takes Hold

May Market Commentary: A New POV Takes Hold

April Recap and May Outlook April had it all, and most of it was not so great. Inflation is proving sticky again, which forced the market and the Fed to reassess the timing of interest rate cuts. Conflicts intensified in Ukraine and the Middle East, and in the U.S.,...

January Market Commentary Is Rate Relief In Sight?

January Market Commentary Is Rate Relief In Sight?

The drama around the timing of the Federal Reserve’s first cuts to the key short-term interest rate continued in last few weeks of the old year and into the first week of the new year. Two months of slowing labor market data, coupled with a change to the wording in...

December Market Commentary: Rates: Lower and Sooner?

December Market Commentary: Rates: Lower and Sooner?

November Recap and December Outlook After a year in which Federal Reserve Chairman Jerome Powell managed to hold everyone’s attention – again – here we are waiting for the outcome of the last FOMC meeting of the year. A few weeks ago, with the narrative of rates being...

November Market Commentary: Powell on Rate Cuts: Nope.

November Market Commentary: Powell on Rate Cuts: Nope.

October Recap and November Outlook The Federal Reserve's November meeting went as the market expected: no change in rates. What wasn't expected was the October and early November rollercoaster of bond yields. And by rollercoaster, think Kingda Ka. The ten-year U.S....

September Market Commentary – A Raft of Reassuring Data – or Not?

September Market Commentary – A Raft of Reassuring Data – or Not?

August Recap and September Outlook For most of the summer, increasingly positive data releases fed into the market’s upbeat view of the economy. This seemed to contradict the consistent messaging from the Federal Reserve that it isn’t done raising rates and inflation...

August Market Commentary – The Sunny Side of the Street?

August Market Commentary – The Sunny Side of the Street?

July Recap and August Outlook Data releases in July told a story of a stronger-than-expected economy, with headline CPI falling and the labor market remaining robust. The doom-and-gloom scenario of an all-but-inevitable recession seemed to be replaced by something...

July Market Commentary – The Fed Takes a Micro-Holiday

July Market Commentary – The Fed Takes a Micro-Holiday

June Recap and July Outlook The Fed finally hit “pause” on interest rate increases in June after fifteen months and ten consecutive rate hikes. The “dot-plot” indicated that Fed officials think two further increases may be necessary in 2023, and it’s become clear that...

May Market Commentary – The End of a Fed Cycle?

May Market Commentary – The End of a Fed Cycle?

April Recap and May Outlook The biggest news in the Fed’s statement after their meeting on May 3 was what it didn’t say. The Fed’s statement from March contained the language “the Committee anticipates that some additional policy firming may be appropriate” for the...

March Market Commentary – Why Aren’t Rate Hikes Working?

March Market Commentary – Why Aren’t Rate Hikes Working?

February Recap and March Outlook If there's an aphorism for February that you could embroider on a pillow, it would be, "The more things change, the more they remain the same." Markets appear to have finally started taking Federal Reserve Chairman Jerome Powell's...

February Market Commentary – Powell’s Not Done

February Market Commentary – Powell’s Not Done

January Recap and February Outlook The market adage is “as January goes, so goes the year.” Is it true? According to an analysis by Fidelity, January returns are positive about 75% of the time the full year turns out positive. The rally was certainly a relief after...

January 2023 – Market Commentary

The Fed Goes Meta December Recap and January Outlook While the equity markets, as measured by the S&P 500 index, was up in the third quarter, December was a disappointment from the gains seen in October and November. For context, Dow Jones Market Data indicates...

Investment Research Team

Brian Collins

Chief Investment Officer

Daren Alcantar

VP, Investment Strategy & Analytics, Global Retirement Partners

Jay Sanford

Director – Investment Strategy

Cameron Cooke

EVP Investment Consulting

Christopher Wright-Madison

Sr. Analyst, Research Investment

Justin Fisk

Senior Vice President, Investment Services

Tom Phan

Vice President of Investment Strategy

Patrick Maynor

Equity Portfolio Manager

Eric Light

Director of Operations and Trading

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