In 2024, the municipal bond market saw record trading for the third consecutive year. New issues also set a record at $508 billion, the first time muni issues exceeded $500 billion. The trend continued through the first quarter of 2025, with trades and new issues both higher than the first quarter of 2024.1 This increased activity was primarily driven by individual investors attracted to higher yields that coincided with the Federal Reserve raising interest rates to combat … [Read more...]

As its name suggests, the S&P 500 Index contains about 500 stocks. These represent the largest U.S. companies across a broad range of industries, and the index as a whole is generally considered representative of the U.S. stock market. But though index ups and downs may suggest uniform market movements, performance of individual companies and business sectors varies widely. Stocks in the S&P 500 are classified by 11 sectors, each of which responds differently to market conditions. In … [Read more...]

Investor demand for exchange-traded funds (ETFs) has increased rapidly over the last decade due to attractive features that set them apart from mutual funds. At the end of 2024, over $10 trillion was invested in more than 3,600 ETFs. This was equivalent to 36% of the assets invested in mutual funds, up from 21% in 2019 and just 12% in 2014.1 Fund meets stock Like a mutual fund, an ETF is a portfolio of securities assembled by an investment company. Mutual fund shares are … [Read more...]

Investing can be daunting, whether you are experienced or a beginner. Even if you feel confident about your investing strategy, it can be easy to lose focus or make decisions based on emotion. Here are eight quotes from successful investors, economists, and other insightful thinkers that may help provide perspective and focus for your own investing strategy. "The individual investor should act consistently as an investor and not as a speculator."1 — Benjamin Graham, investor, … [Read more...]

Asset allocation and diversification are so fundamental to portfolio structure that it's easy to lose sight of these strategic tools as you track the performance of specific securities or the dollar value of your investments. It might be worth considering how these strategies relate to each other and to the risk and potential performance of your portfolio. Keep in mind that asset allocation and diversification are methods used to help manage investment risk; they do not guarantee a profit or … [Read more...]

When you hear or read that the market is up or down, what does that really mean? More often than not, it reflects movement in the two best-known stock market indexes, the Dow Jones Industrial Average and the S&P 500. In fact, there are hundreds of indexes that track various categories of investments. While you cannot invest directly in an index, you can buy funds that track specific indexes, and you can look at indexes as a benchmark for certain portions of your portfolio. For example, … [Read more...]

Individual bonds and bond funds can both provide an income stream, but there are important differences. An individual bond can offer more certainty and stability than a fund, while a fund can offer diversification that might be difficult to obtain with individual bonds. Coupon, maturity, and yield An individual bond has a coupon rate — the annual interest rate paid on the face value of the bond — and a maturity date, which is the date the principal is returned to the borrower. If … [Read more...]