Hope you and your family had an awesome holiday!  Daren, Chris and Dano are back on the grind with a new episode of On The Markets.  As the year draws to a close, we can start to look at all those convenient narratives the market Nostradamus’ had this time of year, and how wrong they were. 
 
5 Busted Market Narratives In 2025 

1. Trump's Administration Will Send Crypto To The Moon
2. Bonds Are Yesterday's Asset 
3. AI Will Become Everything 
4. Foreign Stocks Will Get Crushed With Tariffs 
5. Tariffs Will Decrease The Trade Deficit 

This week On The Markets, Sonoma Wealth Managing Principals Daren Blonski CFP®, Chris Sipes CFP® and Sonoma Wealth Marketing Director Dano Weir look at: 
• A Trump presidency means crypto to the moon?  Bonds are yesterday’s asset?  Not so fast buddy, and 3 other storylines that just didn’t play out this year. 
• What correction?  Santa Rally looks to be in full effect with another all time high hit today. 
• Which asset class is tracking toward it’s best year in nearly 2 decades?  Hint: it’s a continent. 
 

0:00 5 busted narratives in 2025 
8:40 US Unemployment 
10:35 Chances of a Fed rate cut 
11:05 Investor sentiment 
12:00 Busted: AI will become everything 
19:10 Busted: Crypto to the moon 
20:15 Busted: Tariffs will crush foreign stocks 
21:45 Busted: Bonds are yesterday’s asset 
23:30 S&P getting lapped by China? 
27:34 Mid caps are an opportunity? 
30:20 Busted: Tariffs will decrease the trade deficit 
31:50 Money supply growth 
34:52 S&P heat map 
39:00 Volatility measures 
39:25 Bonds had a decent year 
42:09 Bitcoin getting pummeled 
48:15 S&P bubbles 
43:20 10 year treasury 
 
 
Take Sonoma Wealth's Free Wealth Analysis right here: https://sonomawealthadvisors.com/ 
 
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Audio also available on  
Apple Podcasts https://podcasts.apple.com/us/podcast/on-the-markets/id1802984526 
Spotify https://open.spotify.com/show/2YqyNLN7mcBApS5RL2piAj 
 
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