video1.0<iframe src="https://www.loom.com/embed/9fa7ca2e5bcb45c0beaf620a739c1871" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/9fa7ca2e5bcb45c0beaf620a739c1871-f9a8db8d834ef6a1.gif987.842In this first quarter economic review for January through March 2026, I explained how equities started strong, then faced volatility from Middle East geopolitical tensions and changing inflation expectations. Even after a rally, the S&P 500 closed at 6,539 and was down about 4 percent for the quarter, and the Dow closed at 46,254, down about 4 percent. Core CPI rose 2.4 percent year over year, the Fed held rates at 3.5 to 3.75 percent, and the 10 year Treasury yield ended around 4.35 percent. I also highlighted rising oil prices and the low money market and CD rates, plus the need to stay disciplined and keep a long term perspective. I asked you to schedule and attend your next review meeting, and to reach out with any questions.