Forty "W"ritings

Congress has lifted the debt ceiling 45 times over the past 40 years, often with little fanfare. This time however there is an impasse where Republicans have included spending cuts in legislation that increases the debt limit while the White House has said it would not accept any conditions. If the impasse is protracted, it raises the possibilities of a partial government shutdown and the U.S. defaulting on its debt. This could result in widespread economic damage at home and globally at an already-precarious time for the US and global economy.

Global equities rose in April despite banking stress and worsening leading economic indicators.

Quick Take Despite the stress in the banking system, including the failure of Silicon Valley Bank, global equity markets held up remarkably well in March and posted solid returns for the quarter. Underneath the calm market surface there was wide dispersion in returns across sectors, market caps and styles. Fixed-income markets had a strong quarter as longer-term bond yields fell, generating price gains.

For most families, planning and paying for college is one of the most complex and emotionally fraught financial decisions they will ever make.

* Silicon Valley Bank experienced a classic run on deposits from their start-up tech company client base. * Consensus is this not another 2008-type financial crisis. * Fear will likely remain elevated in the short-run especially for other regional banks. * We are going to continue to monitor to manage risk and look for opportunities.

Surrounded by the otherworldly landscapes created through fire and ice, I was reminded of the value of stepping outside of the familiar life we live day to day.