Shorting the dollar has been a standout winner of 2025—the USD was down almost 10%, and it’s slipped another ~1.2% just in December. No surprise everyone’s feeling pretty good about it right now. But here’s where seasonality throws a curveball. December has historically been the dollar’s roughest month, averaging about -0.9% (easily the weakest of […]
With 2025 officially in the books, it’s hard not to feel grateful for the remarkable run in U.S. equities. The S&P 500 finished the year up over 15% – marking three consecutive years of 15%+ gains (following strong performances in 2023 and 2024). This kind of streak is truly rare. Since 1950, the S&P 500 […]