commentary

Weekly Mosaic Update

The Weekly Mosaic contains the latest market and economic news and data, including what to watch in the coming week, index returns, and current positioning of Mosaic model portfolios.

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Reinhart Week in Review by Madison Investments 11.07.2025

With another missed jobs report due to the government shutdown, both the Fed and investors are missing critical data on the labor market. Meanwhile, the Supreme Court’s review of tariff policy added another layer of uncertainty for markets.

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Monthly Market Update - November 2025

Major stock indices showed strong returns in October with the S&P 500 rising 2.3%, bringing the year-to-date return to 17.5%. The broader market, which saw the median stock in the S&P move down -1.7% for the month and the equal-weighted index dip -0.9%, may have done a better job of capturing the underlying economy, which was colored by the government shutdown, persistent inflation, and indications of a slowing economy.

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Reinhart Week in Review by Madison Investments 10.31.2025

The Fed cut rates by 25 basis points this week, but a split vote and remarks from Chair Powell signal growing divisions within the Committee. Meanwhile, a new U.S.-China trade deal eases immediate tariff risks but leaves long-term uncertainty in place.

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Reinhart Week in Review by Madison Investments 10.24.2025

Both headline and core inflation came in slightly below expectations in September, giving the Fed more reason to ease policy in the months ahead. Meanwhile, new U.S. sanctions on Russian oil and continued trade uncertainty are keeping markets on edge.

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Reinhart Week in Review by Madison Investments 10.17.2025

After last week’s renewed U.S.-China trade tensions, markets have steadied as officials signaled a return to negotiations. But with uncertainty still high, investors remain cautious.

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Q3 2025 Market & Economic Review

Download our quarterly communication with market and economics charts, and commentary on events of the previous quarter.

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Fixed Income 3Q 2025: Markets at an Inflection Point

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“Madison” and/or “Madison Investments” is the unifying tradename of Madison Investment Holdings, Inc., Madison Asset Management, LLC (“MAM”), and Madison Investment Advisors, LLC (“MIA”). MAM and MIA are registered as investment advisers with the U.S. Securities and Exchange Commission. Madison Funds are distributed by MFD Distributor, LLC. MFD Distributor, LLC is registered with the U.S. Securities and Exchange Commission as a broker-dealer and is a member firm of the Financial Industry Regulatory Authority. The home office for each firm listed above is 550 Science Drive, Madison, WI 53711. Madison’s toll-free number is 800-767-0300.

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