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THE BOTTOM LINE: The global economy has thus far adjusted to the energy shock, and its impact may be fading, absent further escalation. Growth is supported by a surge in investment spending. History reminds us that geopolitical events often create short-term volatility but rarely alter the long-term trajectory of well-functioning capital markets in defense, supply chains, energy transition, and artificial intelligence infrastructure. Earnings growth is doing the heavy lifting

After a strong 2025 performance, the current year has so far unfolded in an environment marked by geopolitical tension and episodes of war—conditions that might typically undermine confidence. Yet both the global economy and equity markets have demonstrated notable resilience. This strength has been anchored in two closely connected forces: continued expectations for corporate earnings growth and the rapid integration of artificial intelligence into the broader economy. Econo

This past Sunday, my parents brought together as much of our family as they could—siblings, nieces and nephews, cousins, aunts and uncles—for an extended day of lawn bowls at Roxbury Park. At one level, it was simple. A beautiful day. A casual game. Time together. But it was also something more. […]