Wickham Financial & Insurance Services

10/15/2026

A garage door is the largest opening in the home and the most vulnerable in a storm. Wind-rated garage doors can help provide better protection in severe windstorms. Upgrade to a wind-rated garage door today. Learn more at IBHS.org

10/15/2026

The 3.6% cost-of-living adjustment for 2027 will give Social Security beneficiaries the largest benefit increase since 2023.

10/13/2026

Recap of Last Week

• U.S. stocks continued higher, with the S&P 500 and Nasdaq reaching new record highs, while small-cap stocks (Russell 2000) continued to lag.
• International markets were mixed:
o European equities declined modestly.
o Asian markets posted gains.
• Treasury yields surged midweek to new highs before easing by Friday, keeping interest rates and borrowing costs in focus.
• Energy markets faced supply disruptions from Hurricane Isaias, which temporarily shut in significant Gulf Coast oil and natural gas production. The expected impact on fuel prices was minimal, but broader geopolitical tensions in the Middle East and Russia remained the larger influence on oil prices.
• Investor sentiment became more cautious due to:
o Higher energy costs
o Elevated bond yields
o Geopolitical uncertainty
• This caution was reflected in:
o Broad equity fund outflows
o Weakening participation in the stock rally
o Increased movement into bonds and money-market funds
• Bond funds saw record inflows, indicating a shift toward safety.
• Despite overall equity outflows, investors selectively favored:
o Technology
o Utilities
o Industrials
• OpenAI's reduced revenue projections prompted greater scrutiny around AI-related spending, financing needs, and expected returns.
• Bitcoin and gold declined for most of the week before recovering on Friday.
• Federal Reserve meeting minutes reinforced a "higher-for-longer" interest rate outlook:
o Economic growth remains resilient.
o Inflation remains stubborn.
o Additional tightening remains possible if needed.
o No indication of near-term rate relief.
• Bond market volatility increased sharply:
o The MOVE Index ("VIX for bonds") rose significantly.
o The divergence between bond volatility and low stock-market volatility is the largest since last year's market turmoil.
• Economic data was mixed:
o ISM Services PMI remained in expansion territory, despite slowing.
o Consumer confidence fell 3.7% during the month.
o The Current Economic Conditions Index fell 12.2% month-over-month and 23.7% versus October 2025.

Week Ahead

• Markets will focus heavily on inflation, interest rates, credit conditions, and bank earnings.
• Wednesday's CPI report is expected to be the week's most important economic release.
• Bond markets are closed Monday for Columbus Day, while stock markets remain open.
• Major bank earnings begin Tuesday, including:
o JPMorgan (JPM)
o Goldman Sachs (GS)
o Wells Fargo (WFC)
o Citigroup (C)
• Investors will be watching:
o Credit quality
o Loan growth
o Trading revenue
o Deposit costs
o Consumer spending trends
• Thursday's PPI report will provide additional insight into inflation trends following CPI.
• A more bullish market backdrop could emerge if:
o CPI comes in softer than expected
o Oil prices remain contained
o Treasury yields decline
o Small-cap stocks begin participating in the rally
o High-yield credit spreads remain stable
o Crypto markets strengthen
o The U.S. dollar weakens

Recap of Last Week• U.S. stocks continued higher, with the S&P 50...

10/13/2026

If you’re putting on a new roof, consider renovating to FORTIFIED standards. Learn how FORTIFIED home building standards can help your home better withstand the next storm. Learn more.

10/12/2026

Learn how tax loss harvesting can reduce your capital gains taxes, offset ordinary income and position your portfolio for long-term growth entering 2027.

10/08/2026

Annuities are often a polarizing retirement topic. Determine if they are right for you, and how they may fit into your own plan.

10/07/2026

It's the perfect time to get your home ready for fall. Clean gutters, check heating systems, seal windows, and inspect smoke detectors before colder weather arrives. A little maintenance now can help prevent bigger issues later.

It's the perfect time to get your home ready for fall. Clean gutters, check heating systems, seal windows, and inspect smoke detectors before colder weather arrives. A little maintenance now can help prevent bigger issues later.

10/06/2026

Recapping Last Week

• Global stock markets remained resilient despite a sharp rise in bond yields.
• The U.S. 10-year Treasury yield climbed to 5.34%, its highest level since 2002, before easing after a weaker-than-expected jobs report.
• Higher yields were driven by:
o Persistent inflation concerns
o Elevated energy prices
o Expectations that interest rates will stay higher for longer
• European bond markets also came under pressure, with the spread between French and German 10-year bonds widening above 150 basis points.
• The U.S. dollar strengthened as higher U.S. yields attracted capital.
• The euro weakened significantly due to concerns about French fiscal issues, while the Swiss franc benefited as a traditional "safe-haven" currency.
• Energy prices eased late in the week after G-7 nations agreed to release 100 million barrels of oil and diesel from strategic reserves.
• China imposed a ban on refined petroleum exports, highlighting ongoing global energy supply constraints.
• U.S. equities were led higher by mega-cap technology stocks:
o Nasdaq 100 reached new all-time highs.
o Nvidia and Micron were major contributors.
• Expectations for another Fed rate hike fell sharply:
o October hike probability dropped from 64% to 18% during the week.
• The Fed's preferred inflation measure (PCE) came in at 3.0%, slightly below expectations.
• September employment data showed labor market weakness:
o Payroll growth: 29,000 vs. 85,000 expected
o Unemployment rate increased to 4.2%
• Following the jobs report:
o Stocks, bonds, gold, and cryptocurrencies initially rallied.
o The dollar fell.
o Most asset classes later reversed those moves, except technology-focused stocks, which remained strong.

The Week Ahead

• Treasury markets face an important test with:
o 10-year Treasury auction on Wednesday
o 30-year Treasury auction on Thursday
• The Bank of Japan will also auction 10-year and 30-year government bonds, providing insight into global bond demand.
• Investors will continue monitoring stress in European sovereign debt markets, particularly the widening French-German yield spread.
• Minutes from the Fed's September meeting will be released Wednesday and may provide clues about future interest-rate decisions.
• Inflation remains elevated, making Fed commentary especially important.
• Technology stocks continue to outperform despite higher interest rates because investors expect strong returns from AI-related investments.
• A growing divergence exists within the tech sector:
o Chipmakers (e.g., semiconductor companies) are benefiting directly from AI spending.
o Large cloud providers ("hyperscalers") have borrowed heavily, issuing roughly $220 billion of debt this year, and have underperformed chipmakers.
• Options markets show increasing investor caution:
o The volatility spread between Nasdaq 100 options (VXN) and S&P 500 options (VIX) widened last week.
o This may indicate rising uncertainty surrounding the sustainability of the AI-driven rally.

Recapping Last Week• Global stock markets remained resilient desp...

10/05/2026

Insulating your pipes, cleaning your gutters and chimney are all good projects to invest in now to prepare for winter. Follow these fall home maintenance tips and prepare your home for the coming winter months. Learn more.

10/05/2026

For many retirees, the challenge isn’t saving enough—it’s feeling comfortable enough to spend what they’ve worked so hard to build.