Abstract financial image in greens and blues

Markets & the Economy: Seasonality…

This content does not reflect any recommendations of Baird.

Wall Street thinks investors don’t own enough stock…

It’s the season when business news slows, the Fed’s plan is priced in, and so the bulls’ story leans on "performance chase" logic.

Did the recent 5% shakeup really recharge the market? Is a year-end rally at play?

Add it to the ETF Line Up

New Launches: (week ending 12/5) a few highlights…

  • GLNK~ Grayscale Chainlink Trust; 1st spot link ETF (converted its Chainlink private trust to ETF format)
  • DANA~ Dana Limited Volatility ETF
  • SUI~ 21Shares 2x Long Sui ETF; this is the 74th crypto ETF launched this year and 128th overall

New Filings: Tidal
Robotaxi ETF filed by Tidal with a perfect ticker too…CAB~ Strategy: invests in Co’s involved in autonomous driving vehicles

Pictet filed for another new ETF in the US (sub advised by Tidal)

  • PQUS~ Pictet AI Enhanced US Equity ETF; using AI to outperform the SP500 by over/underweighting the index’s stocks

ETF Check Up: Flow Show
ETF Buzz…

Line chart of ETF asset class launches by type from 2019–2025; leverage spikes sharply in 2025.

Merchants of Doom wrong again…

  • The SP500 clocked its 7th straight up month since Liberation Day; if December ends up it will be only the 4th time ever in 32 years since SPY launched

Chart of S&P 500 monthly win/loss streak since 1995; frequent swings with notable peaks around 2018.