Media – Blog
November 5, 2025
As we review Q3 2025 the venture debt market continues to show positive momentum, with both the technology and healthcare sectors showing meaningful signs of growth. While each sector exhibited distinct patterns, both recorded increases in deal count and volume, supported by larger transaction sizes and deepening deal pipelines as
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November 4, 2025
The Disconnect Between GDP and the Labor Market When assessing the economy, GDP and employment are the two primary gauges of its strength—but lately, they’re telling very different stories. GDP remains strong, with second-quarter growth at +3.8%, the best since 2023. The Atlanta Fed’s GDPNow model projects another solid +4% reading for Q3, fueled largely by surging investment in artificial intelligence.
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October 31, 2025
Powell Haunts the Possibility of a December Cut As expected, the Federal Reserve cut the fed funds target range by 25 bps, bringing it to 3.75%–4.00%. There were two dissenting votes, but notably in opposite directions: Fed Governor Miran favored a larger 50 bp cut, while Kansas City Fed President
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October 28, 2025
Key Takeaways: When I co-authored “Antitrust Anxiety” in 2021, it seemed a tidal wave of antitrust enforcement was on the horizon. Litigation, proposed legislation, and aggressive leadership from watchdogs like Lina Khan and Jonathan Kanter signaled significant changes for Big Tech regulation. With a barrage of Federal Trade Commission (FTC)
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October 16, 2025
A Spooky Beginning to October The U.S. government shutdown has now entered its third week, and on Tuesday, Speaker Johnson cautioned that it could become the longest shutdown in history. Adding to market uncertainty are renewed trade tensions after President Trump threatened an additional 100% tariff on Chinese imports in
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October 2, 2025
Government Shutdown: Economic & Market Implications A stalemate over health care subsidies has triggered the first government shutdown in nearly seven years, affecting an estimated 750,000 federal employees. Historically, shutdowns tend to be either brief (lasting just 2–3 days) or stretch for several weeks. From an economic and market perspective,
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October 1, 2025
Co-authored: Pate Campbell, Keren Luo The U.S. government has officially entered a shutdown. The federal budget process typically begins with the President’s detailed budget request for the fiscal year starting October 1st. However, without the passage of either a full year spending bill or a continuing resolution (CR) by Congress,
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September 30, 2025
Laddered SMA Portfolios vs. MMFs and Deposits in a Rate-Cutting Environment The Federal Reserve recently cut overnight interest rates at its September meeting - now what? As an institutional cash investor, you might feel like a kid watching the ice cream truck pulling away. But there may be a way
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September 30, 2025
Key Takeaways: The Revision That Sparked a Crisis of Confidence in U.S. Economic Data The Bureau of Labor Statistics (BLS) revised payrolls down by 911,000 jobs for the 12 months through March - the largest preliminary benchmark revision since 2000.[1] Markets flinched, and Washington quickly made it a referendum on
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September 18, 2025
FOMC Reduces Fed Funds Target Range by 25 bps As expected, the Federal Reserve cut the fed funds target range by 25 bps on Wednesday, setting a new target range of 4.00%–4.25%. The decision was nearly unanimous, with only newly appointed Governor Miran dissenting in favor of a larger 50
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