In this episode of the Market Misbehavior podcast, Dave is joined by Rob Haworth of U.S. Bank Asset Management.

We dig into what’s driving markets in early 2026—economic momentum vs headline risk, the real story behind consumer strength, how tariffs have filtered through inflation and earnings, the role of the Fed amid data uncertainty, and why elevated valuations make the 10-year Treasury yield the most important risk signal to watch. Rob also shares why midterm election years are often misunderstood—and why the economy, not politics, tends to matter most.

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The content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice.