To Raise or Not to Raise
John Lekas – CEO & Senior Portfolio Manager September 3, 2026 This quote from BCA Research sums up the most likely path for central banks on September 16, 2026. “Inflation is not solved. Above target in the US, UK, and…
SpaceX – Possible Market Sell-Off
Slavik Kolesnik - Portfolio Manager June 5th, 2026 Markets entered 2026 expecting a series of Federal Reserve rate cuts. Instead, we are seeing a landscape that has been consistent with our outlook for the past several years: inflation remains elevated,…
Less Is More
John Lekas – CEO & Senior Portfolio Manager March 12th, 2026 Markets entered the year expecting interest rate cuts from the Federal Reserve. Instead, we are seeing a different picture emerge globally. Both Australia and the European Union are preparing…
Nowhere to Hide
John Lekas - CEO & Senior Portfolio Manager November 13th, 2025 The traditional negative correlation between Treasuries and risk assets has broken down. Historically, when equities sold off, investors moved into Treasuries as a safe haven, creating a dependable inverse…
Fed Cuts Once—More Political Than Economic
John Lekas – CEO and Senior Portfolio Manager September 18, 2025 On September 17, 2025, the Federal Reserve enacted its first—and likely only—rate cut of the year. Though the Fed has not indicated such motivation, our view that this move…
With the Fed Holding, the Dollar and Unemployment Tell the Real Story
John Lekas – CEO & Senior Portfolio Manager, Leader Capital August 5th, 2025 As expected by the team at Leader Capital, last week’s jobs report showed that the unemployment rate stayed put at 4.2%. Moreover, the Fed decided to hold rates…
Treasury Yields Hit 4%, 5%, and 6%
John Lekas - CEO & Senior Portfolio Manager, Leader Capital May 12th, 2025 We believe U.S. Treasury yields are poised to rise meaningfully by year-end. Barring a major shift in global conditions, we see the 2-year reaching 4%, the 10-year…
“All’s Well That Ends Well”
John Lekas – CEO & Senior Portfolio Manager April 23, 2025 Credit markets and global interest rates remain relatively firm, reflecting a cautious but stable risk environment. We believe volatility will continue in equity and fixed income markets, but the…
Eggs go higher
Slavik Kolesnik – Portfolio Manager February 13, 2025 The latest data clearly challenges the prevailing narrative of Federal Reserve rate cuts and reinforces our view that interest rates will need to remain higher for longer. The recent CPI and PPI…
Trump Trade
John Lekas – CEO & Senior Portfolio Manager November 18th, 2024 We continue to believe that a low-dollar policy is in place. With Trump in office, it is almost certain that fiscal and monetary policies will move in tandem. The…