Your Quarterly Investment Pulse – Without the Noise
The Q3 2025 Dunham Quarterly Pulse is here - highlighting the trends, shifts, and strategy updates shaping the next phase of the markets.
Last quarter brought calm headlines but deeper contradictions beneath the surface.
- Tariff uncertainty faded - yet trade costs remain high.
- Credit flows improved - even as global growth slowed.
- And equity markets climbed - though valuations stretched to historic extremes.
Through it all, the Dunham Investment Committee stayed focused on balance, discipline, and select opportunities.
Inside, you’ll find:
- Why global policy uncertainty declined - but risks still linger beneath the surface.
- How a wave of credit creation and 168 central bank rate cuts are shaping global markets.
- What record household wealth - and uneven spending patterns - mean for the economy.
- Why artificial intelligence - not the consumer - is now driving U.S. growth for the first time in decades
- Why gold reserves now exceed Treasuries for the first time since 1996 - and what that signals.
- How Dunham portfolios adapted - trimming strength, adding value, and staying true to our “Buy Fear, Sell Greed” discipline.
Click here or the image below to download the Q3 2025 Quarterly Pulse now
