The Institutional Risk Analyst

The changes proposed by Governor Bowman, if made effective, will have a significant and very positive impact on banks and non-banks operating in the residential mortgage market.

Tech bellwether Nvidia (NVDA) dropped dramatically last week, but less than the stock had fallen in January or in December of last year. Cisco Systems (CSCO) tumbled 11%–12.3% on a downbeat outlook, making it one of the largest single-day drops last week. Microsoft (MSFT) is down 20% since January due to investor fatigue over the absurd AI narrative. Are these stocks a buy on the bounce?

Large-cap tech stocks experienced the worst week since November, causing a split market where value-oriented stocks are gaining attention, while tech stocks and crypto tokens are being liquidated. Equity managers are rotating out of tech and into everything else, creating a cosmic imbalance that is difficult for the non-tech equity market to absorb.

With the sharp move upward in gold and silver prices, and growing concerns about the stability of the dollar and US financial markets, investor interest in precious metals is increasing dramatically. Despite the big price movements seen in 2025, we believe that the appreciation of gold against the fiat currencies and worthless crypto tokens is in the early stages. Remember, bitcoin is a fraud, nothing more.