Investing with Insight
At Appleton, we value active engagement and interaction with financial advisors and clients. Investing with insight helps us meet client objectives. And by sharing our economic and market perspectives, we foster deeper relationships. Here’s what we’re talking about this month.
Categories
Appleton Market Minute – September 2026
A series of short discussions aimed at sharing insight and perspectives concerning the municipal and taxable fixed income markets. In this episode we take a closer look at the municipal bond market, current yield levels, and potential opportunities for investors navigating today’s landscape.
Review and Outlook
"August was bookended by two very different jobs reports that ultimately did little to change the prevailing “low-fire, low-hire” narrative. July’s labor report was bad, with a net loss of 23k jobs falling well short of expectations for a gain of +82k, coupled with significant downwards revisions..."
"The past month brought a suite of positive inflation releases. Inflation was expected to have improved in the month of June, and releases met or exceeded expectations. Falling energy prices during what proved to be a temporary lull in Iran hostilities were the main driver, but there were some interesting details as well; in particular, CPI inflation saw an unexpected drop in rental costs, and wireless phone services were one of the larger detractors..."
"The signing of a Memorandum of Understanding with Iran on June 17th may leave a lot of questions unsettled, and in the weeks since it has mostly held although tensions in the Middle East remain high and periodic flare-ups have occurred. But it provides the basis for a more stable ceasefire, and for negotiations toward a lasting peace..."
Economic and Market Commentary
"Uncertainty is the norm in the capital markets, yet municipal bond investors have recently been forced to grapple with unusually high levels. Record YTD net issuance, monetary policy questions, and a recent government shutdown have all led to unsettled markets..."
Quarterly Perspectives
Q2
"Human nature often drives us to project forward what has most recently occurred, a phenomenon known as recency bias. Placing too much emphasis on the immediate past can distort our perception of the future. Behavioral finance tendencies of this nature are pervasive, and the last several years offer a good example..."
Q4
"Psychological barriers often present financial planning challenges and managing one’s emotions can be a key ingredient in achieving long-term success. This dynamic typically considers factors such as accepting risk as an inherent element of return and in finding a balance that makes your personal asset allocation strategy effective..."
Q3
"Noteworthy years in the stock market tend to be associated with specific events or themes. For veteran investors, 1987 invokes memories of “Black Monday,” while 1999 to 2001 will be forever linked with the “dot com” boom and bust. While not quite as dramatic as those periods, this has been the year of artificial intelligence (“AI”), a technology that has surged into the public consciousness and rippled through the economy..."
January Offers Headline Inflation Relief, Although Concerns Remain