Podcasts about Nicolaus

In this episode, we explore why inflation remains difficult to interpret - and how that uncertainty is shaping the Fed’s path, reinforcing higher-for-longer rate risks. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode, we explore why geopolitical risk is becoming a persistent market force—and what it means for investors. As the world fragments, competition is reshaping supply chains and capital allocation. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode we provide an update on AI, inflation, and the Market’s Narrow Path. View the Investment Strategy Brief slides related to this episode here Watch the video related to this episode here The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com*See omnystudio.com/listener for privacy information.

The battle lines are being drawn over new proposed maps that could shift the path to power in Congress. In the latest episode of Potomac Perspective, co-hosts Brian Gardner and Neil Shapiro have the latest on redistricting efforts. Also discussed: Did President Trump’s trip to China produce more sizzle than steak? Will the United States step up military action in Iran? What’s the future for legislation around crypto market structure and housing affordability? This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode, we break down the Jevons paradox and why AI may not simply replace work but reshape it. As the cost of intelligence falls, demand for analysis, coding, drafting, design, service, and research may rise, shifting how investors think about growth and productivity. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Bernau, Nicolaus www.deutschlandfunkkultur.de, Fazit

In this episode, we discuss how AI is moving from promise to measurable economic and market impact – and why investors will increasingly focus not just on how much companies spend, but whether that spending produces durable earnings, productivity, and monetization. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

durée : 00:17:05 - par : Emilie Munera, Rodolphe Bruneau-Boulmier - Un portrait musical des sentiments qui accompagnent la vie de la Vierge se dessine au gré de pièces vocales et instrumentales baroques de Biagio Marini, Claudio Monteverdi, Tarquinio Merula, Gian Paolo Cima, Paul Goussot, Domenico Mazzocchi, Nicolaus à Kempis... - réalisation : Pauline Boisaubert Vous aimez ce podcast ? Pour écouter tous les épisodes sans limite, rendez-vous sur Radio France

Is there more “clarity” around legislation to regulate the crypto industry? In the latest episode of Potomac Perspective, co-hosts Brian Gardner and Neil Shapiro have an update on efforts to jumpstart the stalled Clarity Act. Plus, the latest on a possible affordable housing bill and the war in Iran. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode, we break down the UAE’s decision to leave OPEC and why it reflects a broader shift in global energy markets rather than a sudden change. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode, we break down the Warsh nomination and why a Warsh-led Fed would likely de‑emphasize forward guidance, refocus on inflation credibility, and rely more on market signals. For investors, this would mean less prepackaged guidance and less emphasis on market choreography—requiring markets to interpret inflation, growth, and policy in real time. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Will Kevin Warsh be confirmed as the next Head of the Fed? Can the ceasefire with Iran lead to permanent peace? And are budget and crypto bills in Congress headed for breakthrough or breakdown? Co-hosts Brian Gardner and Neil Shapiro tackle these key questions in a new episode of Potomac Perspective. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode we provide an update on 2026 headwinds and tailwinds, including the Middle East conflict and artificial intelligence. View the Investment Strategy Brief slides related to this episode here Watch the video related to this episode here The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com*See omnystudio.com/listener for privacy information.

In this episode, we examine upstream supply disruptions due to the U.S./Israel‑Iran conflict, why their impact can appear isolated at first, and what investors should watch as pressures move downstream. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode, we examine growing attention on private credit defaults and redemptions, why stress appears isolated, and what investors should watch next. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Is there a generational shift underway that could trigger a valuation reset for the entire financial services sector? Special guest KBW CEO Tom Michaud joins the podcast to explain the significance of regulating banks by business model, not just asset size. Tom also talks with co-hosts Brian Gardner and Neil Shapiro about M&A, innovation, and the evolution of fintech. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode, we discuss how it is important to prepare for an extended conflict in the middle east, and how such a prolonged conflict may impact our lives…and our markets. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

The Trump Administration wants an additional $200 billion for the military operation in Iran and this could be a make or break week for a crypto market structure bill. Co-hosts Brian Gardner and Neil Shapiro bring you the latest Potomac Perspective. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode we discuss how markets are reacting to fast moving military actions in the Middle East, with the Fed feeling pressure to hike AND cut rates. We unpack the recent Fed meeting, the latest market reactions to tht conflict, and implications for future Fed policy. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode, we discuss the U.S./Israel - Iran war and some tactical considerations, as well as four scenarios to move towards an off-ramp to peace. View the Investment Strategy Brief slides related to this episode here Watch the video related to this episode here The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com*See omnystudio.com/listener for privacy information.

In this episode, we discuss the strategic off-ramps for the U.S./Israel-Iran war. We’ve seen energy prices and inflation fears rise, but the long-term outlook depends on which of our four scenarios unfolds. We analyze the motivations of each party and share our probability-weighted views on the path forward for global markets. Check out Sight|Lines to unpack these events. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Military action in the Mideast leads to a crude awakening at the gas pump. Plus, AI is driving a surge in electricity demand, and the White House wants tech companies to provide their own power! Stifel Energy & Oilfield Service and Equipment Analyst Stephen Gengaro joins co-hosts Brian Gardner and Neil Shapiro for an “energizing” discussion. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode, we discuss the market impact of the war between the US, Israel, and Iran. We analyze how energy prices have climbed and why we've seen a surge in volatility and a downturn in global equity markets over the past week. We also explore the two key factors we're watching now: signs of a potential end to the conflict and the risk of expansion through regional proxies. Check out SightLines to unpack the week’s events and our views looking forward. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Thinking TogetherRecorded live on February 7, 2026 – This episode is in German.In this live conversation, I speak with Nicolaus Schafhausen — gallerist, curator, author, and exhibition maker. Nicolaus began his career as an artist before consciously stepping into other roles within the art world, shaping institutions and discourses from multiple perspectives.Over the decades, he has co-founded the gallery Lukas & Hoffmann in Berlin and Cologne and has held numerous influential positions: Artistic Leader at Künstlerhaus Stuttgart, Director of Frankfurter Kunstverein, Founding Director of the European Kunsthalle in Cologne, Director of Witte de With in Rotterdam, Strategic Director of the Shorefast Foundation on Fogo Island, Commissioner of the German Pavilion at the 52nd and 53rd Venice Biennales, Director of Kunsthalle Wien — and most recently, Founder and Director of KIN, a gallery for contemporary art in Brussels.We begin briefly with the question of how Nicolaus carved out his own path in the arts — and then move directly into the present moment and its challenges.Who buys art today — and why?How has that changed in recent years?What shifts do we see coming?And how do we, as gallerists, respond?But also: To whom do we sell? Is there something like a moral radar when placing artworks? What responsibility do we carry toward artists, collectors, institutions — and toward one another?We speak openly about relationships: between artists and galleries, between money and values, between conviction and compromise. There are more questions than answers — but we both agree that thinking together, publicly and honestly, is a powerful place to begin.After the book recommendation, there is a bonus Q&A with the audience.Book PickI recommend the Gereon Rath series by Volker Kutscher, the literary basis for the acclaimed TV series Babylon Berlin.Published in Germany by Kiepenheuer & Witsch, in English by Sandstone Press, and as an audiobook by OsterwoldAudio.The novels paint a vivid portrait of Berlin in the late 1920s and early 1930s — a city vibrating with jazz, avant-garde art, nightlife, and radical political energy during the Weimar Republic. What begins as a time of cultural freedom and experimentation gradually gives way to fear, propaganda, and conformity. Art and the press come under pressure — and with them, free thought itself.Kutscher shows how quickly an open society can erode when extremism, economic instability, and disinformation converge. It is a powerful reminder that art and culture are never neutral — they are deeply tied to freedom, and therefore often the first to be threatened.https://kinbrussels.com/https://nicolausschafhausen.com/https://de.wikipedia.org/wiki/Nicolaus_Schafhausenhttps://van-horn.net/podcast/

In this episode we discuss how AI-scare trades can take on meme characteristics—media amplification and market mechanics can fuel fear and volatility. We share a simple framework to separate fundamental disruption from temporary panic and stay disciplined on process.#AI #Investing #Markets #RiskManagement To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

President Trump delivers the annual State of the Union address, proclaiming the economy is “roaring like never before.” In the latest episode of Potomac Perspective, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro review some of the President’s proposals and separate style from substance. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode we discuss why we remain constructive on Japan—how Prime Minister Takaichi’s mandate for fiscal expansion, the Bank of Japan’s rate normalization, and the new U.S.-Japan investment agreement are strengthening the investment environment and earnings backdrop. We also touch on near-term risks and why the setup remains compelling.#Japan #Investing #Markets #Equities #Macro To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode we continue our discussion around our outlook for 2026 and AI optimism, including some early evidence that market performance is broadening, even amidst pockets of volatility around some AI fears. View the Investment Strategy Brief slides related to this episode here Watch the video related to this episode here The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com*See omnystudio.com/listener for privacy information.

In this episode we discuss AI-driven volatility and why “sell first” moments can ignore fundamentals. We share a stay-the-course process: assess fundamentals, judge AI’s impact, then decide: buy, hold, or sell with conviction.#AI #Investing #Markets #RiskManagement To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Another partial government shutdown looms, a New Fed Head emerges, and pivotal midterm elections start to take shape. Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro break things down in the latest episode of Potomac Perspective. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026 See omnystudio.com/listener for privacy information.

In this episode we discuss how a potential Warsh-led Federal Reserve could shift away from constant forward guidance toward transparency, accountability, and cleaner price discovery—and what that may mean for day-to-day volatility across rates, FX, and equities.#Fed #MonetaryPolicy #Volatility #Macro #Investing To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode, we discuss gold’s surge as a potential signal of fiscal trajectory and sovereign-risk concerns, the roles of USD weakness, central bank buying, and ETF inflows.#Gold #FiscalTrajectory #USDollar #CentralBanks #ETFs #SovereignRisk #Markets #SightLines To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

The federal government is headed toward a second shutdown in four months, with no funding deal in sight. In the latest episode of Potomac Perspective, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro examine what’s behind the latest stalemate. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026See omnystudio.com/listener for privacy information.

In this episode we discuss our 2026 outlook and the bull vs bear scenarios we’re tracking across AI monetization, the consumer, and the policy path. #SightLines #Outlook2026 #AI #Consumer #Policy #Markets #Macro To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode, we cover in detail our report Outlook 2026: Rewiring Growth, where we discuss a look back at 2025, how AI can fuel improved productivity and new sources of economic growth, our positive outlook for the coming year, and our bear and bull case scenarios. View the Investment Strategy Brief slides related to this episode here Watch the video related to this episode here The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com*See omnystudio.com/listener for privacy information.

In this episode we discuss our 2026 outlook and the rewiring of growth—how AI is shaping productivity and earnings, why inflation may remain above target, what to expect from the Fed, and how these forces could influence markets in the year ahead. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

The feud between President Trump and Fed Chairman Jerome Powell reaches a fever pitch. In the Season Five premier episode of Potomac Perspective, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro examine what’s behind the growing war of words and what’s at stake for the markets. Also discussed: Could the President cap credit card rates? How can housing be made more affordable? Are we getting closer to a regulatory framework for cryptocurrency? This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2026 See omnystudio.com/listener for privacy information.

In this first episode of 2026 we discuss our Outlook 2026: Rewiring Growth, reviewing the forces that shaped 2025 and the themes—from AI and policy to geopolitics and fiscal risks—that may define markets in the year ahead. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this last episode of 2025, we discuss how artificial intelligence has moved rapidly into the mainstream, where it is already delivering measurable productivity gains, why so many companies remain stuck in pilot mode, and what execution, governance, and reskilling will mean for long-term growth and investment returns. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

2026 is shaping up as a pivotal year for policy, with potential actions on healthcare and housing plus we'll get a new head at the Fed. In the latest episode of Potomac Perspective, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro preview what to expect. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2025See omnystudio.com/listener for privacy information.

In this episode we discuss the resilience of the current environment, the risks for a market pullback, and the opportunities ahead as AI improves productivity. View the Investment Strategy Brief slides related to this episode here Watch the video related to this episode here The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com*See omnystudio.com/listener for privacy information.

In this episode, we discuss the Fed’s year-end rate cut, what the new projections reveal about internal disagreements, and why policymakers may be preparing to pause even as labor market and inflation risks remain in play. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

In this episode, we look at why Fed officials are split heading into the final meeting of 2025, how the labor and inflation data shape that debate, and why markets now lean toward a quarter-point cut. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

December is shaping up as a busy month in Washington, as Congress races to enact “must pass” legislation before year end. Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro examine what’s at stake. Also discussed: President Trump closes in on a new Fed Chairman and all eyes on Tennessee, where a special election could signal implications for the 2026 midterms. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2025See omnystudio.com/listener for privacy information.

In this episode we discuss some drivers of the recent pullback in the equity markets and our views looking forward. View the Investment Strategy Brief slides related to this episode here Watch the video related to this episode here The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com*See omnystudio.com/listener for privacy information.

In this episode we discuss the powerful reshoring and nearshoring trend reshaping U.S. industry, the surge in long-term capital investment, and why the reindustrialization of America may be a durable economic tailwind for years to come. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Now that the government has reopened, Congress will begin to address numerous policy matters that were shelved during the recent shutdown. Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro examine how lawmakers are leaning into “affordability” issues. Also discussed: possible traction on deposit insurance reform and a mega antitrust win for META. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2025See omnystudio.com/listener for privacy information.

In this episode we break down credit cracks—from bank charge-offs to rising consumer delinquencies and private-credit liquidity—what matters, what’s noise, and why this systemic…at least yet. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.

Democrats win big on election night, the Supreme Court tackles the Trump tariffs, and the latest government shutdown becomes the longest in American history. Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro have a recap in this edition of Potomac Perspective. This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2025See omnystudio.com/listener for privacy information.

In this episode we discuss how the U.S. labor market is cooling — not collapsing. The Fed cut rates again, citing a softening jobs picture, but the data tell a more balanced story. We look at why layoffs at major companies don’t signal crisis, how AI will reshape (not erase) work, and why a post-pandemic equilibrium may finally be taking shape. To read this week's Sight|Lines, click here. The views expressed in this podcast may not necessarily reflect the views of Stifel Financial Corp. or its affiliates (collectively, Stifel). This communication is provided for information purposes only. Past performance does not guarantee future results. Investing involves risk, including the possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against loss. © Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com See omnystudio.com/listener for privacy information.