Newsletter

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, represents one of the most sweeping federal tax reforms since the 2017 Tax Cuts and Jobs Act. The legislation permanently extends lower income tax brackets, introduces deductions for tips, overtime, and car loan interest, and enhances benefits for families, seniors, and small businesses. It also phases out or limits several energy tax credits and charitable deductions, while locking in major business incentives such as 100% bonus depreciation and the 20% Qualified Business Income (QBI) deduction. With provisions ranging from expanded child tax credits to the creation of “Trump Accounts” for minors, the OBBBA aims to simplify compliance while encouraging savings, domestic production, and workforce participation.

History reminds us that risk is an inherent part of progress. Markets are designed to evolve, and durable portfolios aren’t built in reaction to the latest headlines. They’re built through steady discipline, thoughtful diversification, and a clear focus on long- term goals. By maintaining perspective and staying committed to a well-designed strategy, investors can position themselves to navigate uncertainty and uncover opportunity over time.

The stock market in 2025 has been anything but steady. What started as a promising surge quickly turned into a reality check for investors. After racing ahead in January, markets reversed course, tumbling nearly 19% from their mid-February highs to a low point on April 8—just a hair away from officially entering bear market territory.

After two consecutive years of strong, double-digit market gains, investors entered 2025 with elevated expectations, encouraged by the prospect of pro-growth policies under the new Trump administration. These conditions initially appeared favorable for continued market momentum, fueling optimism around sustained economic expansion.

The stock market enjoyed a strong rebound in 2023, putting 2022 a year that many investors were eager to forget firmly in the past. In our latest newsletter, we discuss the MAG 7 and their impact on your portfolio. We also look at the rising amount of household debt and the Fed tackling inflation.

Investors experienced a wide range of emotions in the first three months of the year. In our latest newsletter, we discuss what recent banking issues mean for the future of monetary policy and the recent asset class performance. We also look at the latest data and discuss why we may not be our of the woods yet and why we still see some headwinds as we head into the 2nd quarter.