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Markets & the Economy: New Year…New Market View?

This content does not reflect any recommendations of Baird.

Venezuela doesn’t rank among the core issues for the stock market, outside of some opportunistic moves in the energy sector.

Key questions: Is the market’s message of a coming economic pickup reliable? Has Big Tech been resting or stalling? Why no worry over elevated valuations?

Baird in the News: ETF Dual Share Class

Rich Lee, head of program trading & execution strategy discusses the potential impact of the SEC’s approval for ETF dual share classes (finally) brought to the masses. Read the article on LinkedIn.

Add it to the ETF Line Up

New Launches: (week ending 1/9/26) a few highlights…

  • PLU~ Defiance Daily Target 2x Long PL ETF

New Filings: Gabelli, Venezuela, MS

1st ETF listing of 2026!

  • GOLS~ Gabelli Opportunities in Live and Sports ETF; ZERO fees for 1 year!

Teucrium filed for a Venezuela Exposure ETF; that was fast!

Morgan Stanley, with $1.8T in AUM, files for BTC, SOL & ETH Spot ETFs

ETF Check Up: Flowshow
Measured across global stocks, bond, credit & commodities, 2025 delivered the strongest cross-asset performance since 2009

Chart showing 2010–2025 annual returns where equities, bonds, credit, and commodities occasionally rise together.

2026 ETF Predictions…

  • Uptick in ETF Issuer M&A
  • Smart Beta ETFs Make Comeback
  • Crypto Index ETF Boom
  • Int’l Equity ETFs Smash Record Inflows
  • The Year of Fixed Income ETFs