On Investing

In this episode, Liz Ann Sonders and Kathy Jones discuss the current state of the bond market, the influence of central banks, and the impact of policy announcements on market dynamics. They explore consumer confidence, economic indicators, and the potential effects of upcoming labor data on market trends. The discussion highlights the volatility in the markets and the importance of understanding...

Kathy Jones and Liz Ann Sonders discuss recent market moves potentially related to Washington budget negotiations and an increasing focus on debt and deficits. Then, Liz Ann Sonders interviews longtime market technician Helene Meisler. They delve into market mechanics, sentiment indicators, and the historical context of market trends, providing insights into the evolving landscape of investing. Th...

Kathy Jones and Liz Ann Sonders discuss the pause on some tariffs and the impact on the equities market. Then, Kathy interviews Cooper Howard about the features of municipal bonds in the current landscape. They explore the implications of federal funding on state and local governments and the challenges faced by higher-education institutions. The discussion also covers practical investment strateg...

Kathy Jones and Collin Martin discuss the recent Federal Reserve meeting, the implications of their decisions on interest rates, and the current economic landscape. They delve into the risks of stagflation, market reactions, and the dynamics of the corporate and municipal bond markets. The discussion emphasizes the importance of focusing on income and yield in the bond market amid volatility and u...

In this conversation, Liz Ann Sonders interviews Dario Perkins of TS Lombard. They discuss the growing international skepticism towards U.S. policy, the implications of trade deficits and capital account surpluses, and the risks of recession in the current economic climate. They explore the Federal Reserve's reaction function in light of labor market dynamics and the political influence on monetar...

Volatility and uncertain economic outlooks continue to dominate the macroeconomic landscape. In this episode, Liz Ann Sonders and Kathy Jones consider the current state of the stock market, which has been characterized by significant price fluctuations. They explore the dynamics of the yield curve and the pressures on central bank independence amid political influences. The discussion also highlig...

In this episode, Liz Ann Sonders and Kathy Jones begin by discussing the current state of the markets, focusing on volatility, investor confidence, and the impact of trade policies. They explore how changing economic conditions and uncertainty are affecting investment strategies and corporate earnings guidance. The conversation also delves into the complexities of global trade dynamics and the Fed...

In this episode, Kathy Jones and Liz Ann Sonders discuss the current state of the markets, focusing on the volatility in both the equity and bond markets. They analyze the impact of recent economic announcements, the role of the Federal Reserve, and the implications of trade deficits. The conversation also covers investment strategies in uncertain times and looks ahead to upcoming economic indicat...

In this episode, Kathy Jones and Liz Ann Sonders discuss the latest round of tariffs issued by the Trump administration—and how they might impact the economy going forward. Then, Kathy sits down with  Dr. Nela Richardson , the chief economist of ADP Research.  They discuss the role of ADP in providing payroll services and employment data. They also cover the current trends in the labor market, the...

In this conversation, Liz Ann Sonders interviews  Barry Ritholtz . He's the co-founder, chairman, and chief investment officer of Ritholtz Wealth Management. And he’s the author of a new book titled How Not to Invest . Barry and Liz Ann discuss the evolution of financial media, the current market cycle, and the psychological aspects of investing. They discuss the pitfalls of market timing, the sig...

In this episode, Liz Ann Sonders and Kathy Jones discuss the recent FOMC meeting, focusing on the implications of the economic projections, the potential for stagflation, and the uncertainty surrounding current economic indicators. They delve into the Fed's quantitative tightening program and its adjustments, as well as the importance of various economic data points moving forward. The discussion...

In this episode, Liz Ann Sonders and Kathy Jones discuss the current sentiment in the market, contrasting consumer sentiment with investor sentiment amid economic uncertainty. They explore the implications of bearish investor attitudes and the potential for a recession and reflect on the anniversary of the COVID-19 pandemic's impact on the economy. The conversation also highlights key economic ind...

In this episode, Kathy Jones and Liz Ann Sonders review some of the recent questions they have received from investors. Their questions and answers focus on the current economic landscape and cover topics ranging from bond yields to the impact of tariffs to the Federal Reserve's stance to the performance of key indexes and stocks. They explore the complexities of government debt, the dollar's rese...

Kathy Jones and Liz Ann Sonders discuss the recent drawdown in markets and debate whether this is a growth scare or something more lasting in the bond market. What's the housing market outlook for 2025? Liz Ann Sonders interviews noted housing market expert  Ivy Zelman, executive vice president and co-founder of Zelman & Associates. Ivy reflects on the unique economic cycle that has emerged since...

In this episode, Kathy Jones and Liz Ann Sonders start out by discussing the latest developments in economic policy and tariffs. They also cover the latest inflation readings and their implications on the dollar and the Treasury market. Then, Liz Ann sits down with  Phil Mackintosh , chief economist and senior vice president at Nasdaq.  They discuss the unique economic cycle in the U.S., post-pand...

In today's episode, Liz Ann Sonders speaks with Louis-Vincent Gave, CEO of Gavekal Research. Louis discusses the unique market dynamics of the past year, focusing on the concentration of U.S. equities, the divergence between growth and value stocks, and the implications of China's trade surplus. Liz Ann and Louis delve into the impact of DeepSeek on the tech landscape, the potential for market bub...

In this episode, Kathy Jones interviews Dr. Richard Clarida, PIMCO's global economic advisor and former vice Chairman of the Board of Governors of the U.S. Federal Reserve System. Dr. Clarida is a managing director in PIMCO's New York office and teaches economics and international affairs at Columbia University. Prior to joining PIMCO in 2006, he was Assistant Secretary of the Treasury for Economi...

In this episode, Liz Ann Sonders and Kathy Jones discuss this week’s FOMC meeting and the market reactions.  Then, Liz Ann speaks with Rob Arnott, founder and chairman of the board of Research Affiliates®. They discuss some of the advanced approaches of Research Affiliates, particularly focusing on the Research Affiliates Fundamental Index® (RAFI) and its implications for growth and value investin...

In this episode, Liz Ann Sonders and Kathy Jones discuss the intersection of market analysis and political developments, particularly focusing on the implications of a second Trump term. They explore the performance of major tech stocks, the impact of regulatory changes on various sectors, and the current state of the bond market. The conversation also delves into the ongoing earnings season, high...

In this conversation, Kathy Jones and Cooper Howard discuss the impact of climate shocks, particularly wildfires in Los Angeles, on the municipal bond market. They explore the risks associated with California municipal bonds, the financial implications for issuers, and the broader trends in climate-related events. Cooper emphasizes the importance of diversification for investors to mitigate potent...

In the first episode of 2025, Liz Ann Sonders, Schwab's chief investment strategist, and Kathy Jones, Schwab's chief fixed income strategist, discuss the overall economic outlook for 2025 and take stock of where the markets are right now. The conversation focuses on fixed income and bond market dynamics, Fed policy, and the relative performance of equities. Liz Ann and Kathy reflect on the economy...

After you listen Read Cooper Howard's 2025 Municipal Bond Outlook . Read Collin Martin's  2025 Corporate Bond Outlook . Read Kathy Jones's  2025 Treasury Bonds and Fixed Income Outlook . Follow the Schwab Center for Financial Research on X  @SchwabResearch . Is the bond market caught between the Federal Reserve's plans to cut interest rates and the risk of higher inflation and federal debt levels?...

After another year of the bull market, what's in store for stocks in 2025? In this year-end episode, Schwab experts look ahead to consider what investors might expect from the markets in the new year. First, Liz Ann Sonders, Schwab's chief investment strategist, speaks with senior investment strategist Kevin Gordon. Liz Ann and Kevin discuss their perspective on the  direction of the U.S. economy...

In this conversation, Kathy Jones talks with Cooper Howard, who is an expert on the topic of municipal bonds. They delve into the intricacies of bond investing, discuss the importance of bonds, exactly how to build a bond portfolio, and the various types of bonds suitable for retirees and other investors. They explore the differences between individual bonds and bond funds, the significance of acc...

In this week's episode, Liz Ann Sonders, Schwab's chief investment strategist, and Kathy Jones, Schwab's chief fixed income strategist, discuss the current economic landscape, focusing on policy changes in Washington, the implications of tariffs and immigration reform on inflation, and the Federal Reserve's potential moves at their next meeting. They explore the dynamics of the housing market, the...