Diversifying Beyond The Vanilla S&P 500: Two ETFs To Watch In 2025 forbes.com/sites/garthfri…

Vietnam's exports to the U.S. nearly doubled post-Covid. There is no doubt Vietnam is a "connector country" that facilitates trade between China and the U.S.

India's Sensex index has underperformed other emerging markets since the start of the year. If you include VAT, the average tariff India charges the U.S. is nearly 30%. Reciprocal tariffs would hurt Indian exports more than other nations.

Here are the countries that would be most affected by reciprocal tariffs:

Global Markets Watch: Key Developments Across Asset Classes via Forbes forbes.com/sites/garthfri…

Gold Price Hits Record $3,000: What’s Driving The Rally? via Forbes forbes.com/sites/garthfri…

Increased central bank buying is one of biggest drivers of the gold rally in the last two years.

Stagflation Warning Signs Emerge In The U.S. Economy via Forbes forbes.com/sites/garthfri…

Huge outflows from investment grade credit last week. Higher yields + wider spreads = good entry point for long term investors.

U.S. equities back to 10-yr average levels. Big question is what happens to earnings later this year. We could see multiple expansion the bad way ie. lower profits.

Goldman’s S&P Liquidity Tracker suggests equity market liquidity is the near pandemic levels. Low liquidity helps explain last week’s volatility. Or is it the other way around?

Higher bond yields and weaker dollar. Smells like foreigners dumping FX unhedged Treasuries.

Municipal bonds have underperformed Treasuries over the past month. It’s a good opportunity for taxable investors to switch into munis and maybe even benefit from tax-loss harvesting.

Defense Tech Boom: Autonomous Drones, Lasers, And Hypersonic Missiles via Forbes forbes.com/sites/garthfri…

“I’m going to wait for a bear market to invest in the stock market.” Makes sense, except that historically that strategy doesn’t work. TIme in the market is more important than timing the market. Chart via Charlie. Bilello

The gap between BLS CPI and Truflation is near a 5-year high. If the Truflation numbers are a good predictor of where official CPI is heading, reported inflation could fall significantly over the next 6 months.

AI Is Eating Everything: Are There Any Safe Havens Left? open.substack.com/pub/garthfries…

Asset Management firms are getting pounded today. KKR might find support at last year's "reciprocal tariff" lows.

Bargains in the Bloodbath: 2 Oversold Plays in Software and Asset Managers open.substack.com/pub/garthfries…

SpaceX IPO Is Forcing Changes To Index And Underwriting Rules via @forbes forbes.com/sites/garthfri…