Top of Mind
What was the consensus of the September jobs report?
Undershot expectations - September payroll growth (+29k) came in well below consensus (+84k), signaling a softer labor market. Unemployment ticked up from 4.1% to 4.2%, while wage growth slowed to 3.0% YoY. Data increased expectations that the Fed will remain on hold.
Which index closed at an all-time high yesterday?
Nasdaq Composite
What is GIR and ISG’s prediction for rates through end of year?
25bps hike in December
Name one of the two new co-heads of ISG.
Matt Weir & Farshid Asl
What does SWT stand for?
Systematic wealth transfer
What is going to be required for new SMA transfers of over $1MM?
Large order approval – someone on team must approve the order
Which Mag 7 company was up ~25% last month?
Meta
What are the 2 risks GIR sees if current high rates persist?
Weigh on equity prices & revived fiscal sustainability concerns
What is the minimum amount to open a custom muni account?
$5MM
Explain tracking error
Measure of how close returns mirror an index
What is ISG's muni duration target, even with elevated yields?
4 year duration remains the target for a taxable-moderate portfolio
Who is the Dallas Fed Chair and what do they think about current rates?
Lorie Logan – she believes interest rates should be half a percentage point higher
What is ISG's prediction for 2026 GDP growth?
2.2%
Who on the floor was on the high school bowling team?
Parker Ross
Which active manager was placed on-watch yesterday (*potential graveyard)
Capital Group PCS: Non-US Equity
What is the process of listing private equity secondaries on the GS platform?
Concert – happens once a quarter and closed for Q4 listings yesterday
30-year mortgage rates (that are hitting ~3-year highs!) move in tandem with this yield
10-year U.S. Treasury yield
** DOUBLE JEOPARDY ** What is the percentage of companies that are not profitable in the Russell 2000 vs the S&P500?
30% in the R2000 and 1% in the S&P500
Which analyst placed 555th overall in the Katy Trail 5K?
Joannes
Which tech company delayed their $2.1B Nasdaq IPO last week due to market uncertainty?
Oura
** DOUBLE JEOPARDY ** What private company investment is currently being offered and closes this Friday? Explain what the investment is.
Cyera "DPM Investors" – Cybersecurity and AI single company investment
Which S&P index excludes the 30% of market cap with the most volatility, then reweighs by intrinsic value
S&P GIVI
What is the max duration that our muni SMA platform offers?
7.5+ years
How many people attend the State Fair every year?
Between 2-2.5MM people every year
Which analyst had 15 total tackles his junior year of HS wearing jersey #21?
Zane Thormodsgaard