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Markets & the Economy: Are Investors too Confident?

This content does not reflect any recommendations of Baird.
Wall Street’s start to 2026 has been like the scripted first drive in a football game, the offense in rhythm with a balanced attack to take an early lead.
Everyone expects a ‘run it hot’ economy and the market is rushing to price it in.

Can it stay this easy?

Add it to the ETF Line Up

New Launches: (week ending 1/16) a few highlights…

  • TDOG~ 21Shares Dogecoin ETF
  • LUNL~ Defiance Daily Target 2x Long LUNR ETF
  • RKTL~ Defiance Daily Target 2x Long RKT ETF
  • CLNK~ Bitwise Chainlink ETF

New Filings: Global X, Sprott, Tema

A couple of timely thematic ETFs filed…

  • Global X Space Tech ETF (Ticker tba)
  • REXC~ Sprott Rare Earth Ex China ETF

Space ETF filed, snagging a potentially lucrative ticker…

  • NASA~ Tema Space Innovators ETF

ETF Check Up: Flowshow

Bulls on Parade: The rolling 3mo and 6mo flows into equity ETFs is at an all-time high…with a record in 2x Leveraged assets and a decline in cash like ETF AUM

Screenshot of rolling equity ETF flows from December 2015 to December 2025

 

The number of new ETF issuers entering the market for the 1st time has broken the record for the third year in a row…

Screenshot of new ETF entrants from the year 1993 to 2025