Week of September 28, 2026
Our Signals remain unchanged. However, as we have noted recently, the investing environment remains one of unstable equilibrium. The world is waiting for answers to several important questions: Will the US or Iran blink? Will an aggressive Fed succeed in containing inflation? Will the US and China restore normal trade relations? And will Russia end its war with Ukraine? Until these questions are resolved, markets are likely to remain sensitive to developments on each front. We remain focused on the long term and will continue to monitor these forces closely.
Bob Bilkie, CFA
