Municipal Bond
Municipal Bond Market Commentary – 4Q 2025
Municipal bonds closed 2025 strong, driven by curve shifts, steady demand, and active opportunities as the market enters 2026 with resilient fundamentals.
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Taxable Bond
Taxable Bond Market Commentary – 4Q 2025
Taxable bonds posted solid gains in 4Q25 as Fed cuts, lower front‑end rates, and strong corporate and securitized performance supported the sector.
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Domestic Equity
Domestic Equity Market Commentary – 4Q 2025
US equities soared in the third quarter, led by AI and tech. Small caps outperformed, gold hit record highs, and Fed rate cuts boosted market optimism.
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Global Equity
Global Equity Market Commentary – 4Q 2025
Global equities rose in 2025, with non‑US markets outperforming as shifts in trade, currency, and valuations created compelling international opportunities.
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Taxable Bond
Taxable Bond Snapshot December 2025
The fixed income market gave back some ground in December but delivered a solid performance for 2025 — bonds returned their best annual gain since 2020.
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Municipal Bond
Municipal Bond Snapshot December 2025
Munis were steady in December, consolidating gains for the second month in a row. Tax-equivalent yields are compelling: some finished 2025 at their highest year-end levels since 2010.
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Macro
The Great American Inheritance Boom
The richest generation in history is unlocking its wealth — a private stimulus happening now, not decades from now.
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Taxable Bond
Financing the Future: Credit Perspectives on the AI Investment Boom
GW&K’s Director of Taxable Bond Research examines the implications for debt investors and the evolving credit landscape as AI-driven investments transform balance sheets and market dynamics.
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Municipal Bond
Municipal Bond Snapshot November 2025
Following the strong fall rally, municipals held steady in November, with year-to-date performance in the mid-single digits.
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