As we look back at the second quarter, the overall investing sentiment seemed to suggest the need to slam on the brakes. The safeguards out there, namely tariffs, were felt to make us less safe.
In our latest Investment Letter, we discuss why our decisions in the second quarter were based more on the constants that provided clarity when the road ahead looked more speculative. Innovation is one, demographics another, and even the Fed’s record of backstopping the economy and markets.
These constants not only anchor our decisions today but will continue to do so in the future.
Please reach out your relationship team for more information.
For our latest insights, please read our 2Q Investor Letter.