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Markets & the Economy: Cause for Concern?

This content does not reflect any recommendations of Baird.

The S&P 500’s rebound rally showed, yet below the surface the market is emphatically executing an ‘early cycle’ playbook to position for a peppier economy and looser Fed.

Do investors have it right this time?

Add it to the ETF Line Up

New Launches: (week ending 12/12) a few highlights…

  • AUAU~ Global X Gold Miners ETF
  • SIOO~ VistaShares Target 15 SP100 Distribution ETF
  • OAKI & OAKG from the Oakmark Global team (Global Large Cap & International Large Cap)

New Filings: Pacer, iShares, Bitcoin

AI stock picking ETFs filed…

  • Pacer S&P 500 3AI Top 100 ETF
  • Pacer S&P World 3AI Top 300 ETF

Strategy: AI picks top stocks for US or World portfolio

iShares files for Staked Ethereum ETF~ ETHB; their 4th crypto filing: Spot btc, eth, btc income and now this…

Bitcoin after dark: New filing for an ETF that will only hold bitcoin at night, buying it when the US market closes and selling it when it opens

Text listing two ETFs: Nicholas Bitcoin AfterDark and Bitcoin Tail, with prospectus dated 2026.

ETF Check Up: FlowShow
ETF Buzz…

Bar and line chart showing structured outcome funds growth from 2018 to YTD, reaching $90B AUM.

Active ETFs account for 33% of the flows and 84% of the launches…

Chart of active share of launches and flows from 2013 to 2025, peaking at 83.6% launches and 33.4% flows.