July 14, 2026

From Rick's desk...

Keep Calm and Clip Coupons

I hope everyone had a nice weekend!

As we head into a new week, I wanted to share a few highlights from LPL Research's latest market commentary.

Coming into 2026, many investors expected inflation to continue moving closer to the Federal Reserve's 2% target, interest rates to decline with several Fed rate cuts, and Treasury yields to gradually move lower. Instead, the first half of the year delivered several unexpected developments in rapid succession - a leadership change at the Federal Reserve, renewed geopolitical tensions that pushed oil prices and Treasury yields higher, and a surge in AI-related investment that has begun to meaningfully influence the corporate bond market.

Despite these headwinds, the fixed income market has remained remarkably resilient.

One of the biggest advantages for bond investors today is that starting yields remain comfortably above their long-term averages. That means investors don't have to rely solely on falling interest rates or price appreciation to generate returns. Simply collecting the income - or "clipping coupons" - continues to provide a meaningful cushion against market volatility.

While inflation remains above the Fed's long-term target and interest rates may stay higher for longer than many anticipated, quality fixed income continues to offer attractive income opportunities. Looking ahead, LPL Research believes the Federal Reserve leadership transition will remain an important theme during the second half of the year, but maintaining a disciplined, long-term approach remains the best course of action.

Rather than trying to time short-term market movements, LPL Research continues to emphasize diversified portfolios, high-quality investments, and the value of staying invested through changing market conditions.

If you have any questions about how today's market environment may impact your financial plan or investment strategy, please don't hesitate to reach out.

We're always happy to help.

Have a great week!



Best regards,

Rick

Richard B. Welsh, A.A.M.S.

Founder & President

From Marie's desk...

Fasten Your Seatbelt Surviving Market Turbulence

Dear Clients and Friends,

Recently, we met with a husband and wife for their annual review. During our conversation, the wife said something I know many investors can relate to: "Some days I just want to sell it all because I'm so worried about the daily ups and downs. It's hard to watch every day."

Her comment is exactly why we often encourage clients not to check their investment accounts every day - especially if the market's daily swings create more anxiety than insight. Markets naturally move up and down, and those short-term fluctuations can feel much bigger than they really are when we're watching them too closely.

Successful investing isn't about reacting to every headline or every market dip. It's about staying focused on your long-term goals, maintaining a well-diversified portfolio, and making thoughtful decisions rather than emotional ones.

LPL recently published a short article, "Fasten Your Seatbelt: Surviving Market Turbulence," that reinforces these important principles and explains why staying invested through periods of volatility has historically rewarded patient investors.

I encourage you to click the link below and give it a quick read. If you're a visual person, be sure to check out the graphic - it does an excellent job of illustrating how missing just a handful of the market's best days can significantly impact long-term investment results.

As always, if market activity has you feeling uneasy or you'd simply like to talk through your investment strategy, we're just a phone call or email away.

Best,

Marie

Breaking the Bridal Shower "Rules"

This past weekend, our family had the joy of celebrating our future daughter-in-law at her bridal shower. It was such a special afternoon filled with laughter, good food, and the wonderful people who have been part of their journey.

Now, if you're thinking, "Wait...isn't the wedding next year?" - you'd be right! We may have broken a few unwritten bridal shower "rules," but there's a method to our madness. Since the happy couple is planning a destination wedding next year, they wanted to spread out the celebrations (and the travel!) for our family and friends who will be coming from all over the country. We figured one trip at a time is much kinder on everyone's calendar - and wallet!

Watching our oldest son and his fiancée surrounded by so much love was a wonderful reminder that life isn't always about following the traditional timeline. Sometimes the best memories are made when you do what works best for the people you love.

Now the countdown to the wedding officially begins...and I have a feeling the planning is only just getting started!

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