CFRA Research

In 2024, the U.S. imported $10.0 billion and exported $4.6 billion in #ForestProducts. #Tariffs on #Canadian softwood lumber could raise costs, as Canada supplies 73% of imports. In this recording, CFRA Senior Equity Analyst Ana Garcia highlights key aspects of the lumber trade deficit, why U.S. logging is declining, and #homebuilder headwinds. Download the full report here https://lnkd.in/e92je3bk

As tariffs loom, along with rising national debt, persistent inflation, and elevated interest rates, how will investors effectively safeguard their portfolios from potential downturns? Join CFRA Research’s roundtable, where our #ConsumerAnalysts will explore the nuanced and complex ways tariffs are expected to impact consumer and consumer-facing companies. They will dive into different industries' specific challenges, analyze potential ripple effects on consumers, and highlight tariff-related dynamics shaping the market. Register today. https://lnkd.in/eCbBdz6Q

In 2024, the U.S. imported $10.0 billion and exported $4.6 billion in forest products. Tariffs on Canadian softwood lumber could raise costs, as Canada supplies 73% of imports. For the full clip of CFRA Research Senior Analyst Ana Garcia McGuinness, MSF discussing the #Lumber #crisis visit https://lnkd.in/e92je3bk

Last week, Washington Analysis healthcare analysts spent the day on #CapitolHill with our investor clients, digging into key policy developments shaping the healthcare landscape. From #Medicaid, food policy, #vaccines and #hospitals to the evolving outlook for legislative vehicles — the conversations were wide-ranging and timely. With major Congressional events on the horizon, our investor clients had the opportunity to ask direct questions of party leadership in the Capitol and political staffers across both chambers to understand how #Congress thinks about #healthcare priorities as they navigate the #risks and #opportunities ahead.

State Street’s $PRIV ETF has received significant attention because it proposes to hold between 10% and 35% of its portfolio in private credit. CFRA Research, in collaboration with SOLVE, did a deep dive into PRIV’s holdings which provided insights into this news making #ETF. 1. PRIV's private debt exposure is low: Our analysis shows that PRIV’s private credit exposure was only around 5% as of March 3, 2025. 42% of PRIV’s exposure is in public corporate debt, with 19% in securitized agency mortgages and 15% in treasuries or cash instruments. 2. Its current holdings are liquid and widely held. Since PRIV’s private debt exposure is currently low, its portfolio liquidity is high. In fact, our analysis shows that on average (median), the constituents in PRIV were held by 110 mutual funds, other ETFs, or insurance firms. This ownership data indicates that PRIV’s current holdings are liquid, but also less differentiated. It is important to note that PRIV is an active ETF so its holdings may change over time to hold more Apollo sourced private credit. It highlights that as the ETF industry evolves and becomes more complex, researching the underlying holdings of ETFs is increasingly important. Request the full research note here: https://lnkd.in/g_wNrN4H cc: Sourav Srimal

CFRA Research chief investment strategist Sam Stovall joined CNBC's "Closing Bell Overtime" program with Morgan L Brennan and Jon Fortt on Thursday afternoon to discuss steep sell-off in equities that has persisted this week. Stovall believes that the longer tariffs remain in place, the deeper that equities are likely to fall. Despite this, Stovall still believes that investors are more likely be focused on sector rotation versus a retreat from equities. #Tariffs #EquityMarkets #Sectors Craft & Capital

For additional ETF report visit https://lnkd.in/eJkGQbHY

In 2024, the U.S. imported $10.0 billion and exported $4.6 billion in #ForestProducts. #Tariffs on #Canadian softwood lumber could raise costs, as Canada supplies 73% of imports. In this recording, CFRA Research Senior Equity Analyst Ana Garcia McGuinness, MSF highlights key aspects of the #Lumber trade deficit, why U.S. #logging is declining, and #homebuilder headwinds. Download the full report here https://lnkd.in/e92je3bk

An insightful discussion occurred at the Washington Analysis Healthcare Luncheon in New York last week. We focused on the evolving landscape of hospital and provider payment policies as we approach the March funding deadline and outlined year-end priorities. Analysts Dr. Monet Stanford, Laura Hobbs, Tatiana M. Brown Johnson, and Ryan Visnovec explored the latest reimbursement trends influencing #healthpolicy and the strategic considerations for investors that will shape the way forward. For more information about our expert #healthcare coverage visit washingtonanalysis.com.