Art Of Boring

In this episode, we sat down with our Director of Research, Vijay Viswanathan, and Institutional Portfolio Manager, Kevin Minas, to talk through their observations this past quarter. We talk macro, micro, and everything in between, touching on changing market dynamics, central bank policy, how the portfolios are doing in this environment, and, finally, how we're positioning ourselves as we move forward. Key highlights: Three major macro themes dominated the quarter—trade policy tensions (though somewhat cooling), continued fiscal stimulus despite near-capacity economies, and AI-driven infrastructure growth Central banks are balancing growth concerns and inflation risks, with both the Fed and Bank of Canada beginning easing cycles in September Equity markets showed a strong “risk-on” tone, hitting record highs, with AI and commodities (especially gold and copper) driving much of the growth and market attention. Fixed income returns were strong, led by central bank easing and tighter credit spreads; portfolio