Podcasts about Nicolaus

In this episode, we discuss how Chair Kevin Warsh is reshaping the Federal Reserve's playbook. From shorter statements and less forward guidance to a comprehensive review of the Fed's key functions, we examine what may change and what it could mean for 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 sudden death of Senator Lindsey Graham will likely impact the upcoming congressional agenda. In the latest episode of Potomac Perspective, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro explain why budget matters may be most affected. Plus, Democrats shoot down a defense bill in protest over the war in Iran and why New York is temporarily pulling the plug on AT data center construction. 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 explore why earnings season matters more than ever. With stocks at record highs and expectations elevated, investors will be looking to see whether strong profit growth can justify the market's optimism. 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.

Join us as we dig deeper into last Sunday's sermon from Pastor Gabe Kasper "The Gospel Increases" and hear from Amy Duncan and Nate Zuellig on "Bigger Table".   Digging Deeper Questions: When conflict arises how do you deal with it? Did you learn anything from this text on how to handle it better?    The early church was culturally diverse but united in mission, how might we better embody that in our congregation? our lives?    What is the aim of your life? Is it bringing peace?    Scripture Reading: Acts 6:1-15 1 Now in these days when the disciples were increasing in number, a complaint by the Hellenists arose against the Hebrews because their widows were being neglected in the daily distribution. 2 And the twelve summoned the full number of the disciples and said, "It is not right that we should give up preaching the word of God to serve tables. 3 Therefore, brothers, pick out from among you seven men of good repute, full of the Spirit and of wisdom, whom we will appoint to this duty. 4 But we will devote ourselves to prayer and to the ministry of the word." 5 And what they said pleased the whole gathering, and they chose Stephen, a man full of faith and of the Holy Spirit, and Philip, and Prochorus, and Nicanor, and Timon, and Parmenas, and Nicolaus, a proselyte of Antioch. 6 These they set before the apostles, and they prayed and laid their hands on them.   7 And the word of God continued to increase, and the number of the disciples multiplied greatly in Jerusalem, and a great many of the priests became obedient to the faith.   8 And Stephen, full of grace and power, was doing great wonders and signs among the people. 9 Then some of those who belonged to the synagogue of the Freedmen (as it was called), and of the Cyrenians, and of the Alexandrians, and of those from Cilicia and Asia, rose up and disputed with Stephen. 10 But they could not withstand the wisdom and the Spirit with which he was speaking. 11 Then they secretly instigated men who said, "We have heard him speak blasphemous words against Moses and God." 12 And they stirred up the people and the elders and the scribes, and they came upon him and seized him and brought him before the council, 13 and they set up false witnesses who said, "This man never ceases to speak words against this holy place and the law, 14 for we have heard him say that this Jesus of Nazareth will destroy this place and will change the customs that Moses delivered to us." 15 And gazing at him, all who sat in the council saw that his face was like the face of an angel. Intro/Outro Song: "Only One" Nate Zuellig ULC Artist In Residence    "Bigger Table" Matt Maher CCLI Song # 7202727   CCLI License # 11254293

The Face of an Angel Acts 6 by William Klock I hate doing administration stuff.  I'm really glad that John handles our finances so well and makes sure all our bills get paid.  I don't like filling out annual parish reports and get annoyed when I have fill out one for ACNA and another for the REC.  Why can't they just ask the same questions and share the information?  Our church register is stuffed with Post-It notes going back five or six years so I know what to enter in it whenever I eventually get around to sitting down to make all the entries for baptisms, deaths, weddings, membership, and all of that.  And I wonder if Peter had his own First Century Post-It note system for dealing with the dreaded admin work that was perpetually threatening to cut in on his preaching and praying.  Because that's what we come to in Acts 6.  The church has been growing quickly.  There's something like 5,000 Christians in Jerusalem.  We don't know how they were organised.  We know that the apostles and presumable some others regularly spent time in the temple.  But they met together in their homes.  Were they divided into what we might think of as “churches” or “parishes” with an apostle or two overseeing each—or maybe each apostle overseeing two or three groups?  We don't know.  But what we do know is that the twelve apostles were overseeing everything.  They were preaching, they were teaching, they were praying, they were pastoring, they were making sure everyone's needs were met.  And it got to be too much, even for twelve of them.  I get that.  I have a friend who pastors a Baptist church of about 950.  They figured out thirty years ago that they need one elder to every hundred people or so in order to pastor well.  In Acts we're talking at least 500 church members per apostle.  People started falling through the cracks and complaining.  Look at Acts 6.  [Page 1086 in the pew Bibles.] “Now, in those days when the disciples were increasing in number, the ‘Hellenists' raised a dispute with the ‘Hebrews' because their widows were being overlooked in the daily distribution of food.” As we've seen in Chapters 2 and 4, these first Christians were very aware that they belonged to a new family and they lived accordingly.  They were the beginnings of Gods new Israel.  The Spirit had filled them with love for each other—the kind of love that torah had always envisioned for the people of Israel—and so they began to live it out.  They fellowshipped with each other.  They shared meals together as Jesus' family and they shared with their brothers and sisters who were in need.  They weren't just overflowing with the love and mercy of Jesus; despite most of them having little, as a people they were overflowing with generosity and abundance. And there were plenty who were truly in need.  Widows would normally be looked after by their own family, but when people joined the church—just as in some parts of the world today—it meant being cut off from their families and the support they once had.  The church suddenly found itself providing for a large number of widows.  Maybe it was a language barrier or maybe it has something to do with social connections, but the Hellenists—the Greek-speaking widows—the ones who had come to Jerusalem from the great Jewish diaspora—they were falling through the cracks.  It surely wasn't deliberate.  It was growing pains.  The sheer scope of the church's charity work had become too much for the twelve to handle efficiently.  So the Greek-speaking members of the church take up their cause with the apostles.  The fact that their fellow “Hellenist' believers take up their cause with the apostles, suggests it was a language problem.  Maybe these widows didn't know how or when to ask for food or where to get it and there were simply so church members, that the apostles were no longer able to know the personal needs of everyone.  Whatever the case, the apostles realise they have to do something.  Luke goes on: “So the twelve called the full number of disciples together.  ‘Listen,' they said, ‘It wouldn't be right for us to leave the word of God to serve tables. So Brothers, choose seven men from amongst yourselves who are well spoken of and filled with the Spirit and wisdom.  We will put them in charge of what needs to be done in this matter.  We will continue to pay attention to prayer and to the ministry of the word.” The apostles knew what their primary calling was.  It was to study and to teach and to preach the word and to pray.  Sure, they could do some other things.  But when those other things became so big that it meant taking significant time away from their ministry of the word and their time in prayer, well, it was time for the church as a whole to pick up the slack.  To sort of quote Paul: God gave some to be apostles and other to—well—to fill the other multitude of roles that need filling in the church.  Some are eyes and ears and mouths, others are hands and feet and finger and toes.  The body needs them all.  And this was common sense.  But it also—and I think Luke deliberately frames it this way—it had precedent in Israel's own story.  Think of Israel in the beginning, in the wilderness, just delivered from Egypt, and Moses trying to rule over a thousand and thousands of people and feeling totally overwhelmed.  Luke wants us to see the fledgling church as the new Israel and so he shows us the apostles in the position of Moses.  It's time to choose some well-respected men from amongst the people to help.  Verse 5: “The whole gathering was pleased with what they said.  They chose Stephen, a man full of faith and the Holy Spirit, and Philip, Prochorus, Nicanor, Timon, Parmenas, and Nicolaus (a proselyte from Antioch).  They presented them before the apostles, and having prayed, they laid their hands on them.” It's worth noting: the seven names are Greek names.  One of these men was even a proselyte, meaning he was a gentile who had converted to Judaism and was now a Christian.  Presumably the seven were meant to serve the whole church, but the church chose seven men who were especially able to help with the problem at hand: the Greek-speaking widows.  So the church elects these men, brings them before the apostles for their approval, prays for them, and then it's the church that lays hands on them.  Now, almost every English translation says that it was the apostles that laid hands on these seven, but the Greek text doesn't really bear that out.  It says they, the church, elected the men and brought them to the apostles and there's absolutely nothing in the text that indicates a change of subject before Luke says that “they” laid hands on the men.  The church—probably a representative few—laid hands on the seven, not the apostles. And when we look at what was involved, it suggests even more that it was the church doing the laying on of hands.  There are several words in Hebrew that, in English, all get sort of generically translated as “to lay hands”, but the Hebrew behind the idea here, has the sense of pressing down on something—as if you're sharing or transferring something of yourself to another: your sins to a the scape goat, or the people of Irael “pressing down on” the Levites who will represent them and fill in for their firstborn sons, or Moses pressing his hands down on Joshua and making him his representative and successor.  Remember, the whole point of this is that the apostles knew “serving tables” wasn't their job.  Their job was word and prayer.  It was the job of the wider church to look after the welfare of each other and so it's appropriate that the church not only elects these seven men, but also “ordains” them, if you will. And what were the seven?  Traditionally we've called them deacons.  Deacon comes from the Greek word to serve—in this case to serve (διακονεῖν) tables, which is symbolic of making sure the widows get their charity.  But otherwise, what we see these men doing doesn't look all that much like what we see deacons doing later in the New Testament.  In fact, when the apostles talk about “serving tables”, there's a probably a word play there—“tables” is a banking or accounting term, not just a word for a literal table—that suggests that what these men were really doing was overseeing, administering the distribution of food and, more broadly, the resources of the church.  And if that was the case, they look a lot more like bishops.  I could be wrong, but what I would tentatively suggest, is that these seven men were the first men to be appointed to pastoral office in the church, before that role had split into bishops on the one hand and deacons on the other.  I think these guys were, more or less, both proto-deacons and proto-bishops.  And while their primary duty was to oversee the church's charity, the church chose them because they were full of the Spirit.  And in Acts, what that means is that they were bold and unafraid proclaimers of the good news about Jesus. So, writes Luke in verse 7, because of the apostles could now be devoted to the word to prayer and because these seven men were now ordained to ensure the church was being what the church is supposed to be, “The word of God increased and the number of disciples in Jerusalem multiplied greatly.  This included a large crowd of priests who became obedient to the faith.”  Brothers and Sisters, when the church—the people and the leaders—are boldly proclaiming the word of God and are diligent in prayer, God will multiply it.  We might miss it, but Luke makes the point: It's not us.  We don't grow the church.  It's God.  The power lies with him.  We need to trust his word and we need to proclaim it.  We need to pray and entrust our ministry to him.  Not gimmicks, not money, not all the other things churches often do to try to make themselves effective.  Just preach God's word and pray.  He'll bring fruit from it.  And be patient, because God works on his own schedule, not ours.  And, we might miss it: Luke makes a point of telling us a significant new step in the church's growth: now it's attracted a crowd of priests.  And that would not have gone unnoticed by the leaders of the temple.  Luke doesn't say anything here, but this means the Jewish leaders are getting more concerned, getting more angry, becoming more inclined to violent action. But, first, Stephen's story.  Look at verse 8: “Stephen was filled with grace and power and performed great signs and wonders amongst the people.  But some from the Freemen's Synagogue, as it was named, and from Cyrene, Alexandria, Cilicia, and Asia stood up and disputed with Stephen.  They could not, however resist the wisdom and the spirit with which he spoke.”  Stephen preached in the gospel in the synagogues.  And here's the thing.  Luke makes a point of saying that Stephen wasn't just full of power; he was also full of grace.  We've all heard people speak who are full of power, but are short on grace.  They can be jerks.  Maybe they're right, but just the way they speak makes people angry.  But that's not Stephen.  He's speaking with great grace.  But the folks listening still aren't having any of it.  Not that Palestinian Jews were any more receptive, but Luke kind of gives the sense that maybe these folks—they're all hellenised, diaspora Jews like Stephen—maybe they're overly defensive of their Jewish heritage because they feel deficient in some way for not being Palestinian Jews.  Whatever their motivation, they're angry with what he says and they get even angrier because they couldn't resist him.  And then they get even angrier—we've all seent his happen—they're even angrier, because he's not angry in response. He's full of grace  They couldn't refute what he was saying.  But rather than concede, they dig in and at that point there's only one thing left to do: they make false accusation of blasphemy.  Verse 11: “Then they put up men to say, ‘We heard this man speaking blasphemous words against Moses and against God.'  They aroused the people, the elders, and the scribes.  They set upon him, seized him, and took him in front of the assembly.  They set up false witnesses to say, ‘This man never stops speaking words against this holy place and the law.  We heard him say that this Jesus of Nazareth will destroy this place and change the customs which Moses handed down to us.'  Everyone who was sitting in the assembly looked hard at Stephen.  They all saw that his face was like the face of an angel.” It sounds a lot like the accusations against Jesus, when he was accused of saying he would destroy the temple and rebuilt it in three day.  Of course, yes, he said that, but his point was that God was doing something new, that God was about to fulfil his promises, and that God would establish a new temple in which he would come to dwell with his people.  But the Jewish elders didn't hear it that way, not because Jesus wasn't clear, but because they couldn't accept that God was fulfilling his promises through Jesus.  If Jesus was the Messiah, he was doing it all wrong, at least so far as they were concerned.  He couldn't be the one. And now exactly the same thing is happening to Stephen.  We don't have his words, but based on the false accusations against him as well as his defence that will follow in Chapter 7, we have a pretty good idea what he was saying and it was closely related to what Jesus had said.  Just like Jesus, just like Peter, just like the preaching we see through Acts, Stephen told the story of God and his people and how it leads to Jesus. There were four things that were all-important for the Jews and that marked out their identity.  There was the temple; the torah or law; the land of Israel itself and especially Jerusalem, where the temple was; and there was their ethnic identity as Jews—the sons and daughters of Abraham, delivered by God from Egypt when Moses led them through the Red Sea to Mt. Sinai.  Those things marked them out as God's people.  Those things marked them out as separated, as different from the pagan peoples and nations around them.  Compromise those things, and you'd be sliding down a slippery slope into the same idolatry that had got their ancestors exiled to Babylon.  So when Stephen spoke, as any of the Christians would have, about God establishing a new temple or about Jesus fulfilling torah, out came the angry charges of blasphemy. But those first Christians—just like Jesus—were never attacking the temple or the law.  The problem was that Israel—despite knowing her own story so well and so thoroughly—had forgotten where it was going and then failed to recognise how Jesus was bringing it to its climax.  When Jesus or when Peter or when Stephen said that God was doing a new thing, what people like the priests and the scribes, the Pharisees and the Sadducees, people like Saul of Tarsus heard was that these Jesus people were saying was the law and the temple were bad. What Stephen (like Jesus and Peter before him) was trying to say is that the word of God tells a story and that this story was moving forward and, as it moved forward, new things would happen.  This didn't mean that the old things that had happened were bad.  Just the opposite!  They were good.  They were necessary to get the story to the point it's at now.  Imagine you take a trip to Montreal.  First you drive your car to Nanaimo to get to the ferry, then you take the ferry to Horseshoe Bay, then you get off the ferry and get on a bus that takes you downtown, where you take SkyTrain to the airport, where you finally board an airplane that flies you across the country.  The fact that you left your car parked in Nanaimo to get on a ferry or that you left Skytrain to get on an airplane or even that you stopped travelling once you arrived in Montreal, none of that means that the car or the ferry or the bus or the airplane or even the trip itself was bad.  You couldn't get where you are without them!  And, just so, God gave Israel the law.  God gave Israel the temple.  And they were good things.  They were necessary things.  They were gracious things.  They were things that prepared the people for and brought them to the part of the story where Jesus became a part of it. But they tuned this part out.  Some modern Christians do the same.  I'm not sure where it comes from.  Maybe it comes from listening to Luther with only one ear.  But we get the idea that the old covenant was a bad thing.  People will get the wrong idea that the old covenant was about being saved by works and that's why Israel refused Jesus, who came to offer salvation by grace.  A thousand time, no.  If that's what Stephen had been saying, the Jews would have been right to be angry with him, because he would have been wrong.  The status of God's people has never been because of works; it has always been because of grace.  That's part of how the old covenant prepared people and led them to the part of the story where Jesus enters. Other times we just ignore God's story altogether and try to write our own.  But what's often even more dangerous is when we know God's story to a point, but then we lock it down and refuse to let him take it in a new direction.  We do that.  And that's what these folks mad at Stephen are doing.  Jesus just couldn't be where the story they knew was heading; instead, Jesus became a threat to their version of the story. And yet Stephen persisted.  Even as they dragged him before the Sanhedrin with a slate of false witnesses against him.  And think about that.  They're convinced they're in the right.  They're convinced that they represent God and everything that is good and right and true.  They think they're the heaven on earth people.  And yet what do that they do in response to his preaching?  They lie. By their actions they condemn themselves.  And in contrast stands Stephen.  For all his speaking with power, he's full of grace.  And as he stands before the Sanhedrim, as false witness after false witness testified against him, the Spirit, God, transforms—almost transfigures him—to the point that the whole assembly is left staring at him.  Luke says his face became like the face of an angel. As far as literal appearance, I don't know what that means.  But the important thing is that everyone recognised what was happening and in that moment, the Spirit revealed Stephen—and along with him the church—for what he, what they, what we really are: In that moment Stephen was revealed as the face of Jesus' heaven on earth people.  He was actively part of the church living out heaven on earth.  He was preaching the good news about Jesus and he is the fulfilment of God's promise to bring heaven and earth back together.  And in the middle of this controversy, in the middle of the false accusations, in the middle of these men who, despite all the evidence, were digging in their heels and refusing to accept the message about Jesus, refusing to let God lead the story they new so well in a new direction, God himself vindicated Stephen and made him a manifestation of heaven on earth.  Stephen was full of the Spirit, a little temple in miniature full of God's presence.  As if the shekinah—the cloud of glory visibly representing God's presence that had been missing from the temple ever since Israel's exile—suddenly became present with Stephen.  God announcing: “In this man, in this people, through my son, in this gospel I am fulfilling my promises.  Listen to him.” Brothers and Sisters, this should be a picture of us.  The bit where Stephen was transfigured and looked like an angel—whatever that means—that was unique.  But the rest of it, that ought to be us.  A people committed to be a covenant family, not just overflowing with talk of love and grace and mercy, but a family of people where love and grace and mercy are abundant in real, practical ways.  A family where we make a point of doing what needs doing to make sure that nothing gets in the way of that love and grace and mercy.  We ought to be a people of word and of prayer who are bold for the gospel, because we know that the power lies not with us, but with God.  His word, not ours, brings life.  His Spirit has the power to renew minds and regenerate hearts.  And so we pray, entrusting ourselves and our ministry to him and we proclaim not our word, but his.  We tell the story that leads the world to Jesus.  And if we're doing all these things, that word, that story will have power, but our telling of it will also be full of grace. The world, the flesh, and the devil will do their worst.  People will dig in their heels.  People will tell lies about us and about the story and the good news we proclaim.  People may even violently persecute us one day.  But remember: It's all of grace.  The story that leads us through the law and the prophets, through torah and temple, is all about the grace of God towards rebellious sinners, and so is the story that leads to forgiveness and life with God, the story that leads us to Jesus and the Spirit and eventually to the New Jerusalem.  Brothers and Sisters, it's all of grace.  Live the story of God's grace and the light of heaven will permeate the church.  Proclaim the story of God's grace, and that light will being to permeate the world. Let's pray: Lord, fill us with your grace.  And don't just fill us with it; ensure that we're ever and always overwhelmed by the knowledge and understanding of your grace, so that we will live it out in practical terms as your church and so that we will go out with boldness to proclaim your good news, not to win arguments, but make your grace known.  Through Jesus we pray.  Amen.

In this episode, we break down our updated second-half outlook and the forces reinforcing a “higher for longer” rate environment. From firmer inflation and a resilient labor market to structural shifts like AI-driven investment and fiscal pressures, we explore what’s keeping the Fed on hold - and what it means for growth, rates, and markets 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.

Are the financial markets miscalculating ongoing political risks abroad? In the latest episode of Potomac Perspective, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro have the latest fallout from military action overseas. Also discussed: Are oil companies price gauging at the pump? Is it crunch time for a crypto bill? What are the key takeaways from the latest primary elections? 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 potential for peace in the Middle East and how that is shaping our outlook for the second half of 2026. 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.

Peter Stark je jediným priamym potomkom rodu Starkovcov, ktorí v 19. storočí vybudovali v Liptovskom Mikuláši Starkovskú liehovar, ktorý funguje dodnes. Po jeho arizácii a znárodnení existuje ako spoločnosť St. Nicolaus, dnes najväčší výrobca liehovín na Slovensku. S touto firmou však už Peter Stark nemá nič spoločné, aj keď meno jeho predka Armina sa ocitlo v názve jedného z produktov.Židovský pôvod Petra Starka bol krajne rizikový v Slovenskom štáte aj v povojnovom stalinskom Československu. Preto v roku 1959 emigroval do Západného Nemecka a neskôr šiel do USA. Tu absolvoval doktorandské štúdium.

After nearly four months of fighting, the U.S. and Iran agreed to a framework. Markets reacted: oil fell, equities hit record highs, and Treasury yields and inflation expectations eased. We break down the impact across markets and what it means for the Fed going 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.

Now in these days when the disciples were increasing in number, a complaint by the Hellenists arose against the Hebrews because their widows were being neglected in the daily distribution. And the twelve summoned the full number of the disciples and said, “It is not right that we should give up preaching the word of God to serve tables. Therefore, brothers, pick out from among you seven men of good repute, full of the Spirit and of wisdom, whom we will appoint to this duty. But we will devote ourselves to prayer and to the ministry of the word.” And what they said pleased the whole gathering, and they chose Stephen, a man full of faith and of the Holy Spirit, and Philip, and Prochorus, and Nicanor, and Timon, and Parmenas, and Nicolaus, a proselyte of Antioch. These they set before the apostles, and they prayed and laid their hands on them.And the word of God continued to increase, and the number of the disciples multiplied greatly in Jerusalem, and a great many of the priests became obedient to the faith.

In this episode, we unpack the forces keeping rates elevated, from stubborn inflation and strong labor markets to rising debt, and what it means for the Fed’s next move. 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 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.

We’re celebrating our 100th anniversary! This week, we break down the latest developments in trade talks, examine the military operation in Iran, and discuss key housing and crypto bills working their way through Congress. Join Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro for this milestone episode! 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 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.

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.

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/

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 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.