The second quarter of 2025 was defined by a tug-of-war between mounting macro uncertainty and the still-ample cash balances of global allocators. For dividend-oriented investors, the set-up proved fertile: defensive cash-flow franchises were re-rated higher while quality cyclical exposures with true...
Stocks opened the second quarter with a precipitous drop but quickly regained their footing and staged an impressive recovery over the remainder of the period. The downturn began during the first quarter, as markets started to price in the anticipated effects of “Liberation Day” and the various chal...
The second quarter delivered a two-act drama: (1) early-April tariff angst that briefly rewarded our defensive posture; followed by (2) a decisive risk-on rotation once the narrative switched towards the One Big Beautiful Bill Act and the Administration’s average tariff rate of ~10 %, well below the...
The first quarter of 2025 brought a marked shift in the macroeconomic and geopolitical landscape, prompting a recalibration of our portfolio positioning within the Hilton Dividend & Yield Strategy (DIVYS). Against a backdrop of heightened policy uncertainty, increased market asymmetry, and signs of ...
Hilton’s Tactical Income Strategy began 2025 with a heightened focus on risk calibration as evolving macroeconomic dynamics and geopolitical developments gave rise to a more asymmetric distribution of outcomes. In contrast to the relative stability of late 2024, the first quarter of 2025 introduced ...
In the Rolling Stones song “Jumping Jack Flash,” Keith Richards refers to his arrival in a war-ravaged London with the line “I was born in a crossfire hurricane.” We are hard pressed to think of a better way to summarize markets so far in 2025: a crossfire hurricane. The chaotic mix of shifting poli...
In today's dynamic investment landscape, change is the sole constant. Markets are experiencing turbulence due to uncertainty from fluctuating economic indicators and rapidly evolving global trends.
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