Doll’s Deliberations

From the mind of industry veteran Bob Doll comes Doll's Deliberations®, a weekly investment commentary.

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Commentary

Trump 2.0 dominates the dialogue

Doll’s Deliberations

Trump 2.0 dominates the dialogue

Stocks advanced (S&P 500 1.76%) as investors began to digest Trump 2.0, which appears to be mostly positive for risk assets. However, significant uncertainties regarding tariffs continue.

01/27/2025

A Calmer Bond Market—for Now

Doll’s Deliberations

A Calmer Bond Market—for Now

A core CPI data print that was a bit less than expected provided a reprieve to the beleaguered bond market (after several months of higher yields) and spurred a surge in equity prices.

01/21/2025

Fewer tailwinds/more headwinds

Doll’s Deliberations

Fewer tailwinds/more headwinds

Rising inflation and interest rates that led to fears of a hard landing through much of 2022 and 2023 have long dissipated. The combination of falling interest rates and continued economic growth have, at least in the past, been associated with strong equity returns.

01/13/2025

10 Predictions for 2025: Full Report

Thought Leadership, Doll’s Deliberations

10 Predictions for 2025: Full Report

Bob Doll presents his widely anticipated 10 Predictions for 2025, including a 2024 assessment plus insights on what investors should expect from a Trump 2.0 presidency, inflation, stock market trends, tax cuts, and more.

01/06/2025

10 Predictions 2025: Executive Summary

Doll’s Deliberations

10 Predictions 2025: Executive Summary

2024 was more favorable to equities than we thought. U.S. consumer spending held up, the labor market improved early in the year, and U.S. economic data surprised to the upside.

12/31/2024

10 Predictions Year-End Recap

Doll’s Deliberations

10 Predictions Year-End Recap

The U.S. stock market has experienced back-to-back years of 25+% returns. While a handful of stocks account for the majority of returns, most stocks advanced, as economic growth exceeded expectations and valuation levels rose again.

12/16/2024

As we head toward year-end …

Doll’s Deliberations

As we head toward year-end …

Risk assets continue to have tailwinds that are likely to last into the new year against a backdrop of ongoing global economic expansion and supportive monetary policy.

12/09/2024

The next decade in capital markets: What investors can expect in 2025 and beyond

Doll’s Deliberations

The next decade in capital markets: What investors can expect in 2025 and beyond

The capital markets landscape is set to change markedly over the next decade, with the huge gap in recent performance between stocks and bonds set to narrow or even reverse.

12/02/2024

Policy change uncertainty creates volatility in both directions.

Doll’s Deliberations

Policy change uncertainty creates volatility in both directions.

Investors are digesting the selection of Team Trump. The next and more important hurdle will be getting clarity on the actual new policies that will be enacted by the incoming administration.

11/25/2024

The outlook for stocks and bonds is near peak uncertainty

Doll’s Deliberations

The outlook for stocks and bonds is near peak uncertainty

The U.S. economy has solid momentum and, for now, is in line to receive a further boost based on the incoming president’s proposed policies.

11/18/2024 5 min read