Key Wealth Matters

A volatile backdrop tied to the Iran conflict kept energy markets in focus and reinforced a higher-uncertainty tone across risk assets. Economic updates pointed to a jobs market that remains steady, inflation readings that are still not cooling meaningfully, and a growth picture that was revised from prior estimates. With next week’s FOMC meeting approaching, attention turns to how policymakers fr...

Volatility is framed as a two- front test: geopolitical escalation and a labor market miss that undercut confidence in near term growth. The investor fulcrum is oil. If disruption risk around the Strait of Hormuz persists, energy prices can revive inflation pressure just as employment momentum softens. That combination forces markets to debate whether the Fed stays patient on rates or is constrain...

As February closes, markets are grappling with a familiar tension: solid fundamentals meeting elevated expectations. This episode unpacks why strong earnings, including from Nvidia, have not translated into higher index levels, and why “sell‑the‑news” reactions are increasingly common in mega‑cap technology. The conversation highlights improving market breadth beneath the surface, stable labor con...

This week’s discussion reflects a market navigating slower growth and firmer inflation. Fourth‑quarter GDP shows a clear downshift, while PCE inflation surprised to the upside on both headline and core measures. The panel explains why sticky inflation and recent FOMC minutes raise the bar for rate cuts, with markets responding through higher front-end yields and a flatter curve. Investors are also...

This week, we review a busy week of economic data, including updates on retail sales, employment, and inflation, and discuss what these signals mean for the broader economy. We ask how markets are digesting softening inflation, shifting Fed expectations, sector-level dispersion in equities, and ongoing volatility tied to AI-driven disruption. We end the episode with guest Sean Poe, Director of Inv...

Markets absorbed a brief U.S. government shutdown, ongoing fourth‑quarter earnings, and fresh readings from the Institute for Supply Management: Services stayed in expansion while Manufacturing showed a tentative uptick. While the Bureau of Labor Statistics’ payroll report was delayed, other labor signals softened—job openings slipped to 6.5 million, weekly claims rose to 231,000, and the ADP priv...

The Fed stayed put, inflation hasn’t cooled enough, and investors are penciling in the next rate cut at mid‑year. A light data slate backed that view—jobless claims remained low, productivity stayed strong, and producer prices firmed. The FOMC held rates at 3.50%–3.75% with two dissents for a 0.25% cut, keeping the focus on data while markets handicap a shallow easing path. Kevin Warsh’s nominatio...

A steady, broadening market week: breadth improved beyond the mega‑caps, volatility’s blip faded, and PCE inflation continues to run at a pace consistent with the Fed’s target while stale data keeps focus on next week’s FOMC meeting. We also discuss the bond markets, Fed independence and the next Fed Chair. We wrap with a quick policy roundtable—credit‑card APR caps, potential GSE MBS buying, and...

A steady but complicated start to 2026: inflation isn’t flaring, retail spending held up, and the Beige Book nudged higher while jobless claims stayed low. With a January interest rate cut likely off the table, markets are eyeing mid‑year moves, as the Fed navigates political noise and confidence in credit remains high—even as spreads sit near cycle tights. We dig into what that mix means for posi...

Happy New Year! In the first episode of 2026, we catch up on what we missed during the holiday break, and dig into the latest market and economic developments in the beginning of the year, including the Federal Reserve’s recent rate cuts, updated projections for GDP and inflation, and the impact of the government shutdown on economic data releases. The conversation covers labor market trends, prod...

In this week's episode, our experts discuss recent market activity, economic data delays due to the recent government shutdown, and the Federal Reserve’s latest rate cut. The Fed’s decision was marked by rare dissent, reflecting uncertainty about inflation and future policy direction, with only one rate cut projected for 2026. We analyze the implications for credit markets, the US dollar, and the...

On this week’s episode, a busy week of mixed economic signals—initial jobless claims hit a very low 191,000 while ADP reported a -32,000 decline in private payrolls—and a split economy where ISM Manufacturing remains in contraction as Services continue to expand. With a delayed September PCE inflation (the Fed’s preferred inflation gauge) arriving today, just before next week’s FOMC meeting, marke...

With the historic government shutdown behind us, we dig back into key economic data captured over the duration of the shutdown: highlights include a modest improvement in housing activity, favorable labor market indicators despite data being somewhat stale, and mixed signals from the Federal Reserve amid uncertainty over December rate cuts. Equity markets showed heightened volatility, with strong...

This week, we cover the historic end of U.S. penny production resulting from high manufacturing costs and obsolescence. Market updates focused on lingering uncertainty due to delayed economic data from the recent government shutdown, while Federal Reserve policy remains unclear, with rate cuts seen as a toss up ahead of December’s meeting. With holiday shopping well underway, we discuss consumer t...

This week, we explore the economic impact of the ongoing government shutdown, now in its 38th day, and its effect on labor market data and investor sentiment. Our experts discuss alternative employment indicators, strong Q3 earnings, and the influence of AI on market performance. They also examine the Federal Reserve’s cautious stance on inflation and interest rate cuts amid data uncertainty. Fina...

Cynthia Honcharenko, Director of Fixed Income Portfolio Management, joins the podcast to deliver a report on this week’s Federal Open Market Committee (FOMC) meeting; be sure to read her companion piece, “The Gentle Cut: Easing Without Euphoria” on our Weekly Investment Brief feed . Our discussion tracks how the equity and bond markets behaved leading up to, and following, the meeting, and what to...

Amid the ongoing government shutdown, we look at alternate sources of data to draw a picture of what’s happening with inflation, the labor market, and home sales. Our experts provide insights on the market’s reaction to these reports, the anticipated Federal Open Market Committee (FOMC) meeting next week, and the performance of different sectors and asset classes. We also touch on some unusual mar...

The ongoing government shutdown delayed updates of the Consumer Price Index, Producer Price Index, weekly unemployment claims, and retail sales. Still, there was plenty to cover from this week, including the potential impact on the banking sector amid emerging credit concerns, the strength and state of the consumer, recent earnings reports, a dip in oil prices, and the outlook for the Federal Rese...

Speakers:   Brian Pietrangelo, Managing Director of Investment Strategy  George Mateyo, Chief Investment Officer  Rajeev Sharma, Head of Fixed Income  Stephen Hoedt, Head of Equities 01:58 – Our team of experts discusses the impact of the government shutdown on economic data releases, inflation concerns, and labor market trends. 04:35 –  Analysis of bond market movements, expectations for Federal...

Speakers: Brian Pietrangelo, Managing Director of Investment Strategy George Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed Income   00:54 – We review the key economic data and market activity from the past week, including the Job Openings and Labor Turnover Survey (JOLTS) report, the September ADP National Employment Report showing a significant decline in private sector employment...

Joel Redmond, Managing Director of Business Advisory Services at Key Private Bank, joins the podcast this week to provide some insights and advice for business owners. He also addresses recent legislation changes that might affect capital gains tax exclusions for certain C corporations. Brian and George break down the news and numbers of the week and discuss the overarching risk appetite of the ec...

Cynthia Honcharenko, Director of Fixed Income Portfolio Management, joins the podcast to deliver a report on this week’s Federal Open Market Committee (FOMC) meeting; be sure to read her companion piece, “The Fed Cut Rates, But Didn’t Cut Loose” on our Weekly Investment Brief feed . Our discussion tracks how the equity and bond markets behaved leading up to, and following, the meeting, and what we...

In this week's episode, we break down the factors and trends shaping the economy, including new reports that shed some light on labor and inflation. Expected rate cuts from the Federal Reserve at next week’s Federal Open Market Committee Meeting (FOMC) appear to be the main driving force behind movements in fixed income and equities. Please join us on Thursday, September 18, where we’ll sit down w...

In this week's episode, we discuss the Beige Book Report, and three employment reports including fresh numbers from a weaker-than-expected report from the Bureau of Labor Statistics (BLS). We also touch on the policies and politics bedeviling the Federal Reserve, and the likelihood of rate cuts later this month. As always, we analyze how all of these factors affect the equity and bond markets. Fin...

In this week's episode, we discuss the latest economic and market news, including updates on unemployment claims, GDP growth, and inflation data. Our experts provide their insights and analysis on the implications of these and other economic developments, particularly the potential impact on the Federal Reserve's monetary policy decisions. We also touch on the potential political challenges facing...