On Investing

In this episode, Liz Ann Sonders and Kathy Jones begin by discussing the current state of the markets, focusing on volatility, investor confidence, and the impact of trade policies. They explore how changing economic conditions and uncertainty are affecting investment strategies and corporate earnings guidance. The conversation also delves into the complexities of global trade dynamics and the Federal Reserve's cautious approach in...

In this episode, Kathy Jones and Liz Ann Sonders discuss the current state of the markets, focusing on the volatility in both the equity and bond markets. They analyze the impact of recent economic announcements, the role of the Federal Reserve, and the implications of trade deficits. The conversation also covers investment strategies in uncertain times and looks ahead to upcoming economic indicators that could shape market expecta...

In this episode, Kathy Jones and Liz Ann Sonders discuss the latest round of tariffs issued by the Trump administration—and how they might impact the economy going forward. Then, Kathy sits down with Dr. Nela Richardson, the chief economist of ADP Research. 

They discuss the role of ADP in providing payroll services and employment data. They also cover the current trends in the labor market, the impact of immigration, and the demogr...

In this conversation, Liz Ann Sonders interviews Barry Ritholtz. He's the co-founder, chairman, and chief investment officer of Ritholtz Wealth Management. And he’s the author of a new book titled How Not to Invest.

Barry and Liz Ann discuss the evolution of financial media, the current market cycle, and the psychological aspects of investing. They discuss the pitfalls of market timing, the significance of emotional control in inves...

In this episode, Liz Ann Sonders and Kathy Jones discuss the recent FOMC meeting, focusing on the implications of the economic projections, the potential for stagflation, and the uncertainty surrounding current economic indicators. They delve into the Fed's quantitative tightening program and its adjustments, as well as the importance of various economic data points moving forward. The discussion highlights the challenges businesse...

In this episode, Liz Ann Sonders and Kathy Jones discuss the current sentiment in the market, contrasting consumer sentiment with investor sentiment amid economic uncertainty. They explore the implications of bearish investor attitudes and the potential for a recession and reflect on the anniversary of the COVID-19 pandemic's impact on the economy. The conversation also highlights key economic indicators to watch in the coming week...

In this episode, Kathy Jones and Liz Ann Sonders review some of the recent questions they have received from investors. Their questions and answers focus on the current economic landscape and cover topics ranging from bond yields to the impact of tariffs to the Federal Reserve's stance to the performance of key indexes and stocks. They explore the complexities of government debt, the dollar's reserve status, and the ongoing debate ...

Kathy Jones and Liz Ann Sonders discuss the recent drawdown in markets and debate whether this is a growth scare or something more lasting in the bond market.

What's the housing market outlook for 2025? Liz Ann Sonders interviews noted housing market expert Ivy Zelman, executive vice president and co-founder of Zelman & Associates. Ivy reflects on the unique economic cycle that has emerged since the pandemic, particularly its impact...

In this episode, Kathy Jones and Liz Ann Sonders start out by discussing the latest developments in economic policy and tariffs. They also cover the latest inflation readings and their implications on the dollar and the Treasury market. Then, Liz Ann sits down with Phil Mackintosh, chief economist and senior vice president at Nasdaq. 

They discuss the unique economic cycle in the U.S., post-pandemic, focusing on the interplay betwee...

In today's episode, Liz Ann Sonders speaks with Louis-Vincent Gave, CEO of Gavekal Research. Louis discusses the unique market dynamics of the past year, focusing on the concentration of U.S. equities, the divergence between growth and value stocks, and the implications of China's trade surplus. Liz Ann and Louis delve into the impact of DeepSeek on the tech landscape, the potential for market bubbles, and future trends in technolo...

In this episode, Kathy Jones interviews Dr. Richard Clarida, PIMCO's global economic advisor and former vice Chairman of the Board of Governors of the U.S. Federal Reserve System.

Dr. Clarida is a managing director in PIMCO's New York office and teaches economics and international affairs at Columbia University. Prior to joining PIMCO in 2006, he was Assistant Secretary of the Treasury for Economic Policy, serving as chief economic ...

In this episode, Liz Ann Sonders and Kathy Jones discuss this week’s FOMC meeting and the market reactions. 

Then, Liz Ann speaks with Rob Arnott, founder and chairman of the board of Research Affiliates®. They discuss some of the advanced approaches of Research Affiliates, particularly focusing on the Research Affiliates Fundamental Index® (RAFI) and its implications for growth and value investing. They explore the differences betw...

In this episode, Liz Ann Sonders and Kathy Jones discuss the intersection of market analysis and political developments, particularly focusing on the implications of a second Trump term. They explore the performance of major tech stocks, the impact of regulatory changes on various sectors, and the current state of the bond market. The conversation also delves into the ongoing earnings season, highlighting the trends in corporate pe...

In this conversation, Kathy Jones and Cooper Howard discuss the impact of climate shocks, particularly wildfires in Los Angeles, on the municipal bond market. They explore the risks associated with California municipal bonds, the financial implications for issuers, and the broader trends in climate-related events. Cooper emphasizes the importance of diversification for investors to mitigate potential risks and highlights the increa...

In the first episode of 2025, Liz Ann Sonders, Schwab's chief investment strategist, and Kathy Jones, Schwab's chief fixed income strategist, discuss the overall economic outlook for 2025 and take stock of where the markets are right now. The conversation focuses on fixed income and bond market dynamics, Fed policy, and the relative performance of equities. Liz Ann and Kathy reflect on the economy's resilience and growth potential,...

After you listen

• Read Cooper Howard's 2025 Municipal Bond Outlook.
• Read Collin Martin's 2025 Corporate Bond Outlook.
• Read Kathy Jones's 2025 Treasury Bonds and Fixed Income Outlook.
• Follow the Schwab Center for Financial Research on X @SchwabResearch.

Is the bond market caught between the Federal Reserve's plans to cut interest rates and the risk of higher inflation and federal debt levels? In Part 2 of our 2025 Market Outlook,...

After another year of the bull market, what's in store for stocks in 2025? In this year-end episode, Schwab experts look ahead to consider what investors might expect from the markets in the new year.

First, Liz Ann Sonders, Schwab's chief investment strategist, speaks with senior investment strategist Kevin Gordon. Liz Ann and Kevin discuss their perspective on the direction of the U.S. economy and stock market. She and Kevin cover...

In this conversation, Kathy Jones talks with Cooper Howard, who is an expert on the topic of municipal bonds. They delve into the intricacies of bond investing, discuss the importance of bonds, exactly how to build a bond portfolio, and the various types of bonds suitable for retirees and other investors. They explore the differences between individual bonds and bond funds, the significance of account types for bond investments, an...

In this week's episode, Liz Ann Sonders, Schwab's chief investment strategist, and Kathy Jones, Schwab's chief fixed income strategist, discuss the current economic landscape, focusing on policy changes in Washington, the implications of tariffs and immigration reform on inflation, and the Federal Reserve's potential moves at their next meeting. They explore the dynamics of the housing market, the uncertainty businesses face due to...