Vegh Wealth Management

Vegh Wealth Management Mary Vegh, President, Financial Advisor www.finra.org, www.sipc.org. No offers may be made or accepted from any resident of any other state.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Third party posts found on this profile do not reflect the views of LPL Financial and have not been reviewed as to accuracy and completeness. The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.

U.S. Debt Hits $40 Trillion – What It Means for InvestorsU.S. government debt recently surpassed $40 trillion for the fi...
09/03/2026

U.S. Debt Hits $40 Trillion – What It Means for Investors

U.S. government debt recently surpassed $40 trillion for the first time in history, a significant psychological milestone that caught the attention of investors, economists, and policymakers alike. While $40 trillion is a staggering number, focusing solely on the headlines can be misleading. Understanding how we arrived at this level, why debt continues to grow, and what it may mean for the economy, markets, and investment portfolios can provide valuable context and potentially alleviate investor jitters.

LPL Research explores how the U.S. debt surpassing $40 trillion could impact investor portfolios.

Market Signals Podcast: S&P 500 Record Highs: Cross-Asset Market SignalsIn this week's Market Signals, LPL Head of Macr...
09/02/2026

Market Signals Podcast: S&P 500 Record Highs: Cross-Asset Market Signals

In this week's Market Signals, LPL Head of Macro Strategy Kristian Kerr sits down with LPL Chief Technical Strategist Adam Turnquist for a cross-asset tour of today's most important market trends.

S&P 500 push toward record highs: From the S&P 500's push toward record highs and sharp swings in Treasury yields to the outlook for the U.S. dollar, gold, energy, and broader commodities.

Treasury yields and the dollar: Tune in for actionable insights on the sharp swings in Treasury yields and what investors should watch out for as markets head into the historically challenging post-Labor Day period.

LPL strategists unpack cross-asset signals from stocks, bonds, gold, and the dollar as the S&P 500 tests record highs ahead of the post-Labor Day period.

Weekly Market Commentary: The Cash Flow Case for Value StocksPL Research explores why value stocks are outperforming, h...
09/01/2026

Weekly Market Commentary: The Cash Flow Case for Value Stocks

PL Research explores why value stocks are outperforming, how free cash flow drives returns, and the impact of AI spending on markets.

A regime in transition. Value has reasserted itself into the market's psyche after a long period in which growth leadership felt permanent.

Growth's run was the exception. Growth's leadership since the 2010s was a relatively rare period, helped by falling rates, software multiple expansion, and the rise of asset-light platform companies.

Investors are repricing risk. However, markets are regime-sensitive, and the market regime appears to be shifting as investors have become more sensitive to technology valuations, AI-related capital spending, and the durability of free cash flow.

Cash generation over promises. This rotation is the market repricing the relative value of near-term cash generation versus long-duration earnings promises.

Value through a factor lens. Of course, "value" can mean different things. In our view, analyzing value as a factor is more instructive, and here, we contextualize recent value outperformance, analyze cash flow as a value factor, and connect these learnings to today's dominant investment debate: the AI capital expenditures (capex) cycle.

LPL Research examines why value stocks are outperforming, how free cash flow drives returns, and what AI capital spending means for portfolios. Learn more.

Weekly Market Performance — August 28, 2026 U.S. stocks printed a moderate weekly advance, supported by strong earnings ...
08/31/2026

Weekly Market Performance — August 28, 2026

U.S. stocks printed a moderate weekly advance, supported by strong earnings and revenue guidance from a high-profile chipmaker and software earnings. However, markets also digested a fresh vow from Federal Reserve (Fed) Chairman Kevin Warsh to fight inflation, which bolstered rate hike expectations and pushed Treasury yields higher — spurring cautious Friday trading. International markets were mixed, with improving economic sentiment supporting Europe and tech-driven gains lifting parts of Asia. Meanwhile, Treasuries edged higher despite ongoing debt and deficit concerns and a post-Jackson hole slide.

LPL's Weekly Market Performance for the week of August 24, 2026, highlights high profile tech earnings and Fed Chair Warsh's Jackson Hole speech.

Why Investors Remain Constructive Despite Economic HeadwindsInvestors have spent much of the summer navigating a familia...
08/29/2026

Why Investors Remain Constructive Despite Economic Headwinds

Investors have spent much of the summer navigating a familiar tension: an economy that continues to show resilience even as concerns linger over inflation, fiscal deficits, and geopolitical risks. Yet beneath the daily headlines, several underlying forces are helping to keep financial markets on relatively stable footing.

Three developments stand out. First, continued demand for U.S. Treasury securities from Japan, the largest foreign holder of U.S. government debt, remains an important source of support for global capital markets. Second, financial conditions in the United States remain easier than in most major developed and emerging economies, providing a favorable backdrop for risk assets. Third, while inflation remains above the Federal Reserve's (Fed) target, price pressures have moderated since their spring peak, helping to reinforce expectations that longer-term inflation expectations will stay anchored.

Taken together, these trends suggest that investors are looking beyond near-term uncertainties and focusing on a global macro backdrop that, while far from risk-free, remains more constructive than many anticipated earlier this year. Understanding these dynamics helps explain why markets have continued to absorb economic and geopolitical shocks with relatively limited disruption.

This article describes how Treasury Demand, Financial Conditions, and Inflation are supporting investor risk appetite.

Divorce is a painful process. Avoid financial mistakes that may have life-long consequences.
08/28/2026

Divorce is a painful process. Avoid financial mistakes that may have life-long consequences.

By understanding a few key concepts during a divorce, you may be able to avoid common pitfalls.

Econ Market Minute Video:3 Reasons Complacent Investors Are Looking Past Near-Term RisksLPL’s Chief Economist, Dr. Jeffr...
08/26/2026

Econ Market Minute Video:
3 Reasons Complacent Investors Are Looking Past Near-Term Risks

LPL’s Chief Economist, Dr. Jeffrey Roach explains how Treasury demand, financial conditions, and inflation are supporting risk appetite

Three macro factors are supporting risk appetite. LPL's Chief Economist, Dr. Jeffrey Roach explains how Treasury demand, financial conditions, and inflation are supporting risk appetite. In this edition, he highlights three key factors at play in the global macro economy that are helping investors look past near-term headwinds.

LPL Financial’s Research team presents Econ Market Minute. Catch the most recent episodes, including economic news, the latest on inflation, and unemployment.

Market Signals Podcast:The Inflection PointIn this episode of the LPL Market Signals podcast, Adam Turnquist, Chief Tech...
08/25/2026

Market Signals Podcast:
The Inflection Point

In this episode of the LPL Market Signals podcast, Adam Turnquist, Chief Technical Strategist at LPL Research, is joined by Ryan Isherwood, Founder, CEO, CIO, and Portfolio Manager at Significance Capital, to discuss the outlook for markets, the AI investment cycle, and portfolio risk management.

Ryan argues that markets are at a critical inflection point, with future performance likely hinging on whether AI-related investments can deliver sustainable returns, while also highlighting potential risks from rising interest rates, slowing free cash flow among hyperscalers, and a possible rotation from growth to value stocks.

The discussion also explores the potential for a commodity supercycle, inflationary pressures, and increasing market volatility beneath the surface despite record highs in major equity indexes.

https://www.lpl.com/research/market-signals-podcast/the-inflection-point.html

Don’t miss the most recent Market Signals from LPL Financial Research. Join for deep-dive analysis on the stock market, fixed income, global markets, and more.

Weekly Market Commentary:Why Strong Earnings Are Lifting Stocks Despite RatesLPL Research explores how strong earnings g...
08/25/2026

Weekly Market Commentary:
Why Strong Earnings Are Lifting Stocks Despite Rates

LPL Research explores how strong earnings growth, AI-driven profits, and rising estimates are supporting stocks despite pressure from higher interest rates.

Earnings have built a strong foundation. As we wrote earlier this month, earnings have provided a strong foundation for stocks this year. With second quarter earnings growth for the S&P 500 on track to exceed 30% (excluding private investment mark-ups) and analysts continuing to raise estimates, it's safe to say this season strengthened the fundamental case for equities.

Volatility may rise, but the floor and ceiling are lifting. So, while geopolitics, election-related risks, and rising interest rates may drive volatility in the coming months, improving and broadening earnings growth is likely to raise the floor for stocks, and the S&P 500's recent technical breakout to new highs probably raises the ceiling.

Our takeaways from earnings season. Here are some of our takeaways from this earnings season and some quick thoughts on the tug of war between stocks and interest rates.

Strong second quarter earnings and rising estimates are lifting the floor for stocks. LPL Research weighs earnings growth against higher interest rates.

Street View Video:Warsh's Pragmatic Fed Shift and Rate Cut OutlookLPL Financial’s Chief Investment Officer Marc Zabicki ...
08/24/2026

Street View Video:

Warsh's Pragmatic Fed Shift and Rate Cut Outlook

LPL Financial’s Chief Investment Officer Marc Zabicki discusses how Federal Reserve Chair Kevin Warsh is reshaping monetary policy with a more pragmatic, data-dependent approach that relies less on forward guidance and market management.

He highlights that moderating inflation, slowing wage growth, and cooling labor market conditions suggest the economy is moving away from overheating, making additional rate hikes unlikely. As a result, investors may benefit from focusing less on the possibility of further tightening and more on the timing of a potential future rate cut.

LPL Financial CIO Marc Zabicki examines Fed Chair Warsh's pragmatic policy shift and why cooling inflation and labor data may point to rate cuts.

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