Uncategorized
July 2026
Summary Global stocks and bonds, broadly, finished lower for July in the face of some familiar headwinds. As the war in Iran finished its fifth month with no definitive agreement, oil prices regained momentum, putting renewed strain on global markets. Elsewhere, the AI trade cooled considerably on concerns that the previous runup in many infrastructure…
Read MoreA Recognition That Reflects Our Commitment to Clients
Highland is pleased to share that @JoelBaker has been named to Chief Investment Officer’s (AI-CIO) 2026 Knowledge Brokers list, a national recognition that highlights individuals whom institutional investors look to for wisdom, insight, and guidance. What makes this recognition especially meaningful is that recipients are nominated by industry professionals and asset allocators who believe the…
Read MoreJune 2026
Summary Stocks finished broadly lower for the month of June while bond investors enjoyed modest returns. Progress in an accord with Iran over the Strait of Hormuz drove oil prices within range of their pre-war levels. The Kevin Warsh era kicked off at the Federal Reserve with a rate pause and unexpectedly hawkish commentary on…
Read MoreRetirement Income Is Moving to the Center of Defined Contribution Plan Design
photo credit: Unsplash What emerging industry trends signal—and how plan committees should respond The Next Evolution of the 401(k) For decades, defined contribution plans have been designed with a primary objective: helping participants accumulate assets for retirement. Increasingly, that is no longer enough. Across the retirement industry, there is a growing shift toward integrating retirement…
Read MoreWhat Sulfuric Acid May Be Signaling About Inflation and Portfolio Structure
A market perspective on input costs, pricing pressure, and investment positioning In investment markets, the most consequential risks are often those that attract little attention. While headlines typically center on central bank policy, equity valuations, and widely followed benchmarks such as oil prices or the S&P 500, important signals frequently emerge earlier in the production…
Read MoreFrom Fear to Freedom: Learning to Spend with Peace and Purpose
photo credit: NEOM | Unsplash We all know someone with a spending problem, but do you know anyone with a saving problem? Well after becoming one of the wealthiest individuals in the world, Warren Buffett famously continued ordering inexpensive breakfasts and using coupons at McDonald’s. In his case, this may be chalked up to charming…
Read MoreMay 2026
Summary Global stocks and bonds rallied in May, pushing U.S. equity indexes to new highs. While resolution in Iran has been slower than investors would hope, regular reports of progress on an accord led to easing oil prices and equity gains during the month. Earnings were generally strong and the AI trade continued to boost…
Read MoreApril 2026
Summary Global equity markets rebounded strongly in April on optimism related to various agreements, and potential agreements in the ongoing war in Iran. Bond markets were more wary, with interest rates higher on the margin as oil continued to climb, driving inflation concerns. Commodity prices drove macroeconomic momentum, for better or worse, and a strong…
Read MoreMarch 2026
Summary Global markets tumbled and energy prices surged in March, as the U.S. moved beyond rhetoric and plunged into war with Iran, entering the month with the hope for a swift regime change, but finishing March with the situation unresolved. Disruptions to the supply and accessibility of oil from key Middle East producers reverberated across…
Read MoreImpact Investing and Community Foundations Part 2
From Governance to Action: Practical Strategies for Implementing Impact Investing in Community Foundations Introduction In Part 1 of this series, we explored why impact investing is fundamentally a governance opportunity for community foundations. Strong governance provides the clarity and structure needed to align mission and fiduciary duty. But governance alone does not move capital. Foundations…
Read More