Rudy Thomas

Top 5 Takeaways This Week June inflation came in well below expectations with the Consumer Price Index declining 0.4% for the month. Lower energy prices were the primary driver of the decline in inflation. Core inflation remained subdued, showing no monthly increase during June. Inflation trends continue to move in a favorable direction, though additional data will be needed to confirm the trend. Our outlook remains constructive for both equities and fixed income as inflation pressures ease.

We continue to view equity investments in a positive way and are broadening our industry participation beyond technology and energy. We also expect interest rates to continue to decline and will add to our fixed-income holdings as appropriate.

Top 5 Takeaways This Week Manufacturing and industrial production continued to strengthen during May. Retail sales posted their strongest year-over-year gain since early 2023, reflecting resilient consumer spending. Pending home sales continued to improve, supporting a more constructive housing outlook. The Federal Reserve maintained interest rates while signaling operational changes under new leadership. Our outlook for both the economy and financial markets remains positive. During the...