Insights

AI-driven data center growth is increasing water demand, especially in water-stressed regions, with electricity generation driving most water use.

Economic growth remained robust in the fourth quarter, fueled by strong spending from high-income households and productivity gains linked to artificial intelligence-related investments.

As we enter 2026, we are of the view that the next 12 months may be more about total return and less excess return.

The municipal market enters 2026 with strong but fading credit quality.

Fixed-income market participants often quote the term “yield,” but the word’s context could be misunderstood because various types of yield exist and each is calculated differently.

Today’s investors have access to a wide variety of investment vehicles, often utilizing multiple structures within the same portfolio.

In October 2025, the Federal Open Market Committee cut interest rates by 25bps to a range of 3.75 to 4.00 percent and announced an end to quantitative tightening in December.

Duration is one of the most important concepts for bondholders to understand as they review the performance of their fixed income investments.