What's Next For Markets

This week, we welcome back Jan Stuart to discuss the growing geopolitical risks shaping global energy markets and why the outlook for the conflicts in Ukraine and the Middle East remains largely unchanged. We explore the implications for oil and diesel prices heading into winter, the case for higher energy prices, and why prolonged supply disruptions are increasing the value of hard assets and independent producers. We also examine the risks surrounding U.S.-China relations, potential inflationary pressures and the broader macroeconomic implications heading into 2027.

With the midterm elections approaching, investors are increasingly focused on the potential for a shift in control of Congress and what it could mean for markets. This week, we sit down with political and policy analyst Don Schneider to examine the key Senate races, the possibility of a Democratic sweep and the investment implications of different election outcomes. We discuss the outlook for fiscal policy and government spending, potential winners and losers across sectors, the growing intersection of politics and AI infrastructure, and whether mounting deficit concerns could put further pressure on interest rates. We also look beyond the midterms to consider what today's political dynamics could mean for the policy landscape heading into 2028.

For full disclosure information visit: http://www.pipersandler.com/researchdisclosures

After an extraordinary run of earnings growth and risk-taking, market leadership is beginning to shift. In today’s episode we discuss why the tailwinds that fueled the past 15 months may be fading, how higher oil prices and interest rates could weigh on growth, and why investors may increasingly favor quality over speculative beta. We explore the implications for AI-related stocks, the outlook for earnings into 2027, and how we see positioning for the next phase of the cycle, with an emphasis on cash flow, profitability, balance sheet strength and earnings momentum.

This week, we sit down with consumer analyst Anna Andreeva to unpack the findings from Piper Sandler’s 26th annual Teens Survey, exploring shifting brand preferences, rising price sensitivity, and the shift from athletic to dressier apparel. We discuss what these trends signal for consumer spending and where investors may find opportunities across footwear, apparel, and beauty.

Michael and Stephen are joined by Paul Newsome to discuss the evolving insurance landscape and where investors can find opportunities as the market cycle shifts. They examine the divergence between life insurers, property and casualty carriers, and insurance brokers, with a focus on interest rates, inflation, capital management, and rising M&A activity. The conversation also explores the potential impact of AI on insurance distribution and profitability, the outlook for homeowners insurance costs, and why select insurance companies may stand out for their balance sheet strength and returns on capital.

For full disclosure information visit: http://www.pipersandler.com/researchdisclosures