In this election preview episode of WashingtonWise, host Mike Townsend offers his guide to the 2026 midterms, including the latest outlook for control of the House and Senate, the key races that could determine the balance of power, and why divided government is emerging as the most likely outcome. Mike goes in depth on the markets and midterms, including historical reaction to elections, where investors should consider putting their focus, and how major policy battles could shape 2027.Mike also shares the latest from Washington, including the Senate's failure to move forward on data center legislation and a congressional stock trading ban, the dramatic expansion of Trump Accounts, and changes at the SEC. WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>DISCLOSUREThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not  suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.​Past performance is no guarantee of future results.Investing involves risk, including loss of principal.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intendedForecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly.  For more information on indexes, please see <a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>.(1026-EYUJ) Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

In this election preview episode of WashingtonWise, host Mike Townsend offers his guide to the 2026 midterms, including the latest outlook for control of the House and Senate, the key races that could determine the balance of power, and why divided government is emerging as the most likely outcome. Mike goes in depth on the markets and midterms, including historical reaction to elections, where investors should consider putting their focus, and how major policy battles could shape 2027. Mike also shares the latest from Washington, including the Senate's failure to move forward on data center legislation and a congressional stock trading ban, the dramatic expansion of Trump Accounts, and changes at the SEC. WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts DISCLOSURE The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. ​Past performance is no guarantee of future results. Investing involves risk, including loss of principal. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. (1026-EYUJ) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this election preview episode of WashingtonWise, host Mike Townsend offers his guide to the 2026 midterms, including the latest outlook for control of the House and Senate, the key races that could determine the balance of power, and why divided government is emerging as the most likely outcome. Mike goes in depth on the markets and midterms, including historical reaction to elections, where investors should consider putting their focus, and how major policy battles could shape 2027.Mike also shares the latest from Washington, including the Senate's failure to move forward on data center legislation and a congressional stock trading ban, the dramatic expansion of Trump Accounts, and changes at the SEC.&nbsp;WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>DISCLOSUREThe policy analysis provided by the Charles Schwab &amp; Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice.&nbsp;The investment strategies mentioned are not&nbsp; suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.​Past performance is no guarantee of future results.Investing involves risk, including loss of principal.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all&nbsp;investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments.&nbsp;Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intendedForecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Indexes are unmanaged, do not incur management fees, costs, and expenses&nbsp;and cannot be invested in directly.&nbsp;&nbsp;For more information on indexes, please see&nbsp;<a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>.(1026-EYUJ) Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com" rel="noopener noreferrer">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

Midterms: Policy, Politics & Your Portfolio

With the Federal Reserve hiking its baseline interest rate for the first time in more than three years and bond yields rising to levels not seen in two decades, the bond market has been top-of-mind for investors lately. On this episode of WashingtonWise, host Mike Townsend sits down with Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research, to unpack what's going on in the bond market. Collin offers his perspective on the Fed's rate hike, Treasury Secretary Scott Bessent's buyback program and whether concerns about the growing national debt are affecting bond markets. He shares his outlook for rates, credit markets, and fixed-income investing heading into 2027, and where investors may find potential opportunities in today’s market.Mike provides the latest news from Washington, including how Congress is responding to the president's plan to give every American adult $5,000 after the election and a big policy setback for the cryptocurrency industry.WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" target="_blank" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" target="_blank" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" target="_blank" rel="noopener noreferrer">Apple Podcasts</a>DISCLOSURESThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results.Investing involves risk, including loss of principal.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intendedForecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments.Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security’s yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.0926-BHW2  Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

With the Federal Reserve hiking its baseline interest rate for the first time in more than three years and bond yields rising to levels not seen in two decades, the bond market has been top-of-mind for investors lately. On this episode of WashingtonWise, host Mike Townsend sits down with Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research, to unpack what's going on in the bond market. Collin offers his perspective on the Fed's rate hike, Treasury Secretary Scott Bessent's buyback program and whether concerns about the growing national debt are affecting bond markets. He shares his outlook for rates, credit markets, and fixed-income investing heading into 2027, and where investors may find potential opportunities in today’s market. Mike provides the latest news from Washington, including how Congress is responding to the president's plan to give every American adult $5,000 after the election and a big policy setback for the cryptocurrency industry. WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts DISCLOSURES The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments. Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security’s yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. 0926-BHW2 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With the Federal Reserve hiking its baseline interest rate for the first time in more than three years and bond yields rising to levels not seen in two decades, the bond market has been top-of-mind for investors lately. On this episode of WashingtonWise, host Mike Townsend sits down with Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research, to unpack what's going on in the bond market. Collin offers his perspective on the Fed's rate hike, Treasury Secretary Scott Bessent's buyback program and whether concerns about the growing national debt are affecting bond markets. He shares his outlook for rates, credit markets, and fixed-income investing heading into 2027, and where investors may find potential opportunities in today’s market.Mike provides the latest news from Washington, including how Congress is responding to the president's plan to give every American adult $5,000 after the election and a big policy setback for the cryptocurrency industry.WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>DISCLOSURESThe policy analysis provided by the Charles Schwab &amp; Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice.&nbsp;The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results.Investing involves risk, including loss of principal.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all&nbsp;investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments.&nbsp;Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intendedForecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments.Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security’s yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors.The Schwab Center for Financial Research is a division of Charles Schwab &amp; Co., Inc.0926-BHW2&nbsp; Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com" rel="noopener noreferrer">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

Bond Market Has a Message: Is Anyone Listening?

History tells us that markets are usually flat in the run-up to midterm elections. Can strong earnings continue to power the market through the election and beyond? On this episode, host Mike Townsend is joined by Joe Mazzola, Schwab's head trading and derivatives strategist, for a conversation about whether history still offers a useful guide to a market that has repeatedly defied it in 2026. Joe shares how an unusually strong earnings backdrop—with revenue, profit, and margin growth rising together—has powered the rally, and why a higher bar for future results could make those gains harder to repeat. He also unpacks how turmoil in the bond market is impacting equities and how the market is thinking about a possible Fed rate hike. And he shares practical approaches investors can consider to manage short-term volatility heading into the election and where investors seeking genuine diversification might look for opportunities.Mike also provides his thoughts on the latest developments in Washington, including a preview of next week's Fed meeting, how Congress has staved off—for now—a government shutdown, and the implications of the national debt passing the $40 trillion mark.WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>.DISCLOSURESThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results.Investing involves risk, including loss of principal.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement for Futures and Options: <a href="https://www.schwab.com/Futures_RiskDisclosure%5d" target="_blank" rel="noopener noreferrer">https://www.schwab.com/Futures_RiskDisclosure]</a> prior to trading futures products.Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​<a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>  0926-556U Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

History tells us that markets are usually flat in the run-up to midterm elections. Can strong earnings continue to power the market through the election and beyond? On this episode, host Mike Townsend is joined by Joe Mazzola, Schwab's head trading and derivatives strategist, for a conversation about whether history still offers a useful guide to a market that has repeatedly defied it in 2026. Joe shares how an unusually strong earnings backdrop—with revenue, profit, and margin growth rising together—has powered the rally, and why a higher bar for future results could make those gains harder to repeat. He also unpacks how turmoil in the bond market is impacting equities and how the market is thinking about a possible Fed rate hike. And he shares practical approaches investors can consider to manage short-term volatility heading into the election and where investors seeking genuine diversification might look for opportunities. Mike also provides his thoughts on the latest developments in Washington, including a preview of next week's Fed meeting, how Congress has staved off—for now—a government shutdown, and the implications of the national debt passing the $40 trillion mark. WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts. DISCLOSURES The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement for Futures and Options: https://www.schwab.com/Futures_RiskDisclosure] prior to trading futures products. Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​schwab.com/indexdefinitions 0926-556U Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

History tells us that markets are usually flat in the run-up to midterm elections. Can strong earnings continue to power the market through the election and beyond? On this episode, host Mike Townsend is joined by Joe Mazzola, Schwab's head trading and derivatives strategist, for a conversation about whether history still offers a useful guide to a market that has repeatedly defied it in 2026. Joe shares how an unusually strong earnings backdrop—with revenue, profit, and margin growth rising together—has powered the rally, and why a higher bar for future results could make those gains harder to repeat. He also unpacks how turmoil in the bond market is impacting equities and how the market is thinking about a possible Fed rate hike. And he shares practical approaches investors can consider to manage short-term volatility heading into the election and where investors seeking genuine diversification might look for opportunities.Mike also provides his thoughts on the latest developments in&nbsp;Washington, including a preview of next week's Fed meeting, how Congress has staved off—for now—a government shutdown, and the implications of the national debt passing the $40 trillion mark.WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>.DISCLOSURESThe policy analysis provided by the Charles Schwab &amp; Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice.&nbsp;The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Past performance is no guarantee of future results.Investing involves risk, including loss of principal.All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement for Futures and Options: <a href="https://www.schwab.com/Futures_RiskDisclosure%5d" rel="noopener noreferrer">https://www.schwab.com/Futures_RiskDisclosure]</a> prior to trading futures products.Indexes are unmanaged, do not incur management fees, costs, and expenses&nbsp;(and/or "transaction fees or other related expenses"),&nbsp;and cannot be invested in directly. For more information on indexes, please see&nbsp;​<a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>&nbsp;&nbsp;0926-556U Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com" rel="noopener noreferrer">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

Competing Signals: Markets Ahead of the Midterms

In this episode, host Michael Townsend and his guest, Kasey McCurdy, chief portfolio strategist for Schwab Wealth Advisory™, bring a portfolio-first lens to the political headlines around the midterms. They discuss what investors should watch if one or both chambers of Congress change party control, with a focus on the portfolio implications of federal debt, interest rates, artificial-intelligence regulation, data center build-out, healthcare policy, tariffs, and cryptocurrency.WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>DISCLOSURESThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not  suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.​Past performance is no guarantee of future results.Investing involves risk, including loss of principal.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intendedForecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification, asset allocation and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.This information is not a specific recommendation, individualized tax, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager, Estate Attorney) to help answer questions about specific situations or needs prior to taking any action based upon this information. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly.  For more information on indexes, please see <a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Hyperscalers are large-scale cloud-service providers with vast, global networks of data centers.  1026-NZCY  Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

In this episode, host Michael Townsend and his guest, Kasey McCurdy, chief portfolio strategist for Schwab Wealth Advisory™, bring a portfolio-first lens to the political headlines around the midterms. They discuss what investors should watch if one or both chambers of Congress change party control, with a focus on the portfolio implications of federal debt, interest rates, artificial-intelligence regulation, data center build-out, healthcare policy, tariffs, and cryptocurrency. WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts DISCLOSURES The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. ​Past performance is no guarantee of future results. Investing involves risk, including loss of principal. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Diversification, asset allocation and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. This information is not a specific recommendation, individualized tax, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager, Estate Attorney) to help answer questions about specific situations or needs prior to taking any action based upon this information. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. Hyperscalers are large-scale cloud-service providers with vast, global networks of data centers. 1026-NZCY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, host Michael Townsend and his guest, Kasey McCurdy, chief portfolio strategist for Schwab Wealth Advisory™, bring a portfolio-first lens to the political headlines around the midterms. They discuss what investors should watch if one or both chambers of Congress change party control, with a focus on the portfolio implications of federal debt, interest rates, artificial-intelligence regulation, data center build-out, healthcare policy, tariffs, and cryptocurrency.WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>DISCLOSURESThe policy analysis provided by the Charles Schwab &amp; Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice.&nbsp;The investment strategies mentioned are not&nbsp; suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.​Past performance is no guarantee of future results.Investing involves risk, including loss of principal.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all&nbsp;investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments.&nbsp;Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intendedForecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.&nbsp;All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification, asset allocation and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.This information is not a specific recommendation, individualized tax, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager, Estate Attorney) to help answer questions about specific situations or needs prior to taking any action based upon this information.&nbsp;Indexes are unmanaged, do not incur management fees, costs, and expenses&nbsp;and cannot be invested in directly.&nbsp;&nbsp;For more information on indexes, please see&nbsp;<a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>.The Schwab Center for Financial Research is a division of Charles Schwab &amp; Co., Inc.Hyperscalers are large-scale cloud-service providers with vast, global networks of data centers. &nbsp;1026-NZCY&nbsp; Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com" rel="noopener noreferrer">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

Skip the Midterm Noise—Think Like the Markets

With high-profile IPOs generating investor excitement but also increasing volatility in the stock market, it's a good time to remember that bonds can help smooth volatility in your portfolio. In this episode, host Mike Townsend is joined by Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research, for a timely discussion on the state of the bond market. Collin dives into what the latest inflation and jobs numbers are telling us about the economy and how the Federal Reserve is likely to stay cautious rather than rush into more rate moves. He examines how the arrival of new Chair Kevin Warsh at the Fed could change the way the central bank communicates and the implications of that for the markets. And he surveys where opportunities may exist across the fixed income landscape—from ultra-short bond funds to investment-grade corporates, high-yield bonds, preferred securities, and municipal bonds. Mike also shares the latest from Washington, including the latest evidence that the government funding process is breaking down, worrisome news about Social Security, and an under-the-radar confirmation hearing that goes to the heart of the debate about the integrity of economic data.
WashingtonWise is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.
If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>.
DISCLOSURES
Investors in mutual funds and/or ETFs should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus via  800-435-4000. Please read the prospectus carefully before investing.
​The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.
All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.
Past performance is no guarantee of future results.
Investing involves risk, including loss of principal.
All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.
Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.
Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.
High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments.
Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security’s yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors.
International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.
Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.
Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​<a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>
The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.
0626-0BEF  Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

With high-profile IPOs generating investor excitement but also increasing volatility in the stock market, it's a good time to remember that bonds can help smooth volatility in your portfolio. In this episode, host Mike Townsend is joined by Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research, for a timely discussion on the state of the bond market. Collin dives into what the latest inflation and jobs numbers are telling us about the economy and how the Federal Reserve is likely to stay cautious rather than rush into more rate moves. He examines how the arrival of new Chair Kevin Warsh at the Fed could change the way the central bank communicates and the implications of that for the markets. And he surveys where opportunities may exist across the fixed income landscape—from ultra-short bond funds to investment-grade corporates, high-yield bonds, preferred securities, and municipal bonds. Mike also shares the latest from Washington, including the latest evidence that the government funding process is breaking down, worrisome news about Social Security, and an under-the-radar confirmation hearing that goes to the heart of the debate about the integrity of economic data. WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts. DISCLOSURES Investors in mutual funds and/or ETFs should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus via 800-435-4000. Please read the prospectus carefully before investing. ​The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments. Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security’s yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors. International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​schwab.com/indexdefinitions The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. 0626-0BEF Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With high-profile IPOs generating investor excitement but also increasing volatility in the stock market, it's a good time to remember that bonds can help smooth volatility in your portfolio. In this episode, host Mike Townsend is joined by Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research, for a timely discussion on the state of the bond market. Collin dives into what the latest inflation and jobs numbers are telling us about the economy and how the Federal Reserve is likely to stay cautious rather than rush into more rate moves. He examines how the arrival of new Chair Kevin Warsh at the Fed could change the way the central bank communicates and the implications of that for the markets. And he surveys where opportunities may exist across the fixed income landscape—from ultra-short bond funds to investment-grade corporates, high-yield bonds, preferred securities, and municipal bonds. Mike also shares the latest from Washington, including the latest evidence&nbsp;that the government funding process is breaking down, worrisome news about Social Security, and an under-the-radar confirmation hearing that goes to the heart of the debate about the integrity of economic data.
WashingtonWise&nbsp;is an original podcast for investors from <a href="https://www.schwab.com" rel="noopener noreferrer">Charles Schwab</a>. For more on the series, visit <a href="https://www.schwab.com/washingtonwise" rel="noopener noreferrer">schwab.com/WashingtonWise</a>.
If you enjoy the show, please leave a ★★★★★ rating or review on <a href="http://getpodcast.reviews/id/1478013779" rel="noopener noreferrer">Apple Podcasts</a>.
DISCLOSURES
Investors in mutual funds and/or ETFs should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus via&nbsp; 800-435-4000. Please read the prospectus carefully before investing.
​The policy analysis provided by the Charles Schwab &amp; Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice.&nbsp;The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.
All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.
Past performance is no guarantee of future results.
Investing involves risk, including loss of principal.
All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.
Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.
Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.
High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments.
Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security’s yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors.
International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.
Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.
Indexes are unmanaged, do not incur management fees, costs, and expenses&nbsp;(and/or "transaction fees or other related expenses"),&nbsp;and cannot be invested in directly. For more information on indexes, please see&nbsp;​<a href="http://www.schwab.com/indexdefinitions" rel="noopener noreferrer">schwab.com/indexdefinitions</a>
The Schwab Center for Financial Research is a division of Charles Schwab &amp; Co., Inc.
0626-0BEF&nbsp; Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com" rel="noopener noreferrer">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

Strong Bond Market Catching Investors' Attention

In this new podcast, host Mike Townsend, Charles Schwab’s vice president of legislative and regulatory affairs, sorts through the news out of Washington to help investors figure out what matters most.

Introducing WashingtonWise Investor

Our finances, portfolios and the markets are affected daily by the policies and politics coming out of Washington. In each episode of WashingtonWise, host Mike Townsend, Charles Schwab’s Vice President for Legislative and Regulatory Affairs, focuses a non-partisan eye on the stories that matter most to investors, and his guests offer actionable suggestions for what to do--and what not to do--with your portfolio.

Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options.

Business

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Government

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Investing

Our finances, portfolios and the markets are affected daily by the policies and politics coming out of Washington. In each episode of WashingtonWise, host Mike Townsend, Charles Schwab’s Vice President for Legislative and Regulatory Affairs, focuses a non-partisan eye on the stories that matter most to investors, and his guests offer actionable suggestions for what to do--and what not to do--with your portfolio. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options.

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