This week’s discussion focused on a mixed set of labor market signals, highlighted by an unexpected decline in July nonfarm payrolls and a lower unemployment rate. The panel explored how softer employment data is reshaping expectations for Federal Reserve policy and reducing the likelihood of a September rate hike. The conversation also examined strong demand for corporate bonds amid record issuance driven by AI investment, along with the market’s response to earnings growth, valuation trends, and energy prices. Despite seasonal concerns, recent market strength continues to support a constructive outlook for investors. Speakers: Brian Pietrangelo, Managing Director of Investment Strategy George Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed Income Stephen Hoedt, Head of Equities 01:30 — Three key employment reports shape the week&#x27;s outlook 05:10 — Why markets welcomed weaker-than-expected payroll data 08:20 — Treasury rally and changing Fed expectations 11:20 — Earnings quality, valuations, and market leadership 16:00 — New highs challenge seasonal market concerns Additional Resources Read: Key Investment Perspectives | Q2 2026 Read: Key Questions: Are More ETFs Really Better for Investors? Key Questions Weekly Investment Brief Subscribe to our Key Wealth Insights newsletter Follow us on LinkedIn

Slip Slidin’ Away: Jobs Growth Slips into Negative Territory

Key Wealth Matters

Welcome to the Key Wealth Matters Weekly Podcast, where we casually ramble on about important topics, including the markets, the economy, human ingenuity, and almost anything under the sun, giving you the keys to open doors in the world of investing. Today is Friday, August 7th, 2026. I'm Brian Pietrangelo, and welcome to the podcast.

As we head into the weekend, we've got a couple fun things going on nationally and internationally. On August 8th, we talk about International Beer Day, and we also talk about National Pickleball Day, although I wouldn't combine the two. And if you're a big music fan way back in the day of Elvis Presley, it begins Elvis Presley Week.

With that, I would like to introduce our panel of investing experts here to share their insights on this week's market activity and more. George Mateyo, Chief Investment Officer, Stephen Hoedt, Head of Equities, and Rajeev Sharma, Head of Fixed Income.

As a reminder, a lot of great content is available on key.com slash wealth insights, including updates from our Wealth Institute on many different subjects and especially our Key Questions article series addressing a relevant topic for investors. In addition, if you have any questions or need more information, please reach out to your financial advisor.

Taking a look at this week's market and economic activity, we'll talk to Steve about the market, but the economic releases were all related to the employment market, and we've got three updates for you. We'll give them right now. First up, earlier in the week, we got the JOLTS report, the Jobs, Opening, and Labor Turnover Survey report from the Bureau of Labor Statistics, focusing on the job openings number, which came in at 7.4 million job openings for the month of June, which was little change...

Slip Slidin’ Away: Jobs Growth Slips into Negative Territory

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Slip Slidin’ Away: Jobs Growth Slips into Negative Territory

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.