With this commentary, we plan to communicate with you every month about our thoughts on the markets, some snapshots of metrics, a section on behavioral investing and finally an update on MacNicol & Associates Asset Management (MAAM).
We hope you enjoy this information, and it allows you to better understand what we see going on in the marketplace.
2025 turned out to be another strong year for financial markets, though it certainly did not feel that way in April. Markets were briefly rattled dropping between 10-15%, following the announcement of sweeping trade tariffs. The short-lived ‘tariff tantrum’ felt genuinely destabilizing in the moment. Equity markets sold off, volatility spiked, and familiar concerns around inflation, supply chains, and global growth quickly resurfaced. At one point, the VIX pushed into the 50s, which was a clear jump in investor anxiety…
