“Markets have moved higher on tariff postponement and the perception that they will be more moderate than initially announced,” said Richard Saperstein, chief investment officer at Treasury Partners to Bloomberg. “We expect markets to remain headline sensitive, as trade deals take time to negotiate and unsettling tariff news is likely to cause noticeable volatility.”

“That's because muni bond yields soared due to a perfect storm of events,” said Richard Saperstein, chief investment officer at Treasury Partners to CNN. “But at the moment,” Saperstein noted, “investors still have a rare opportunity to lock in a high rate of return now. Many high-quality municipal bonds are offering 4.5% yields, which is firmly above the 10-year Treasury rate.”

“The uncertainty of trading partner retaliation is still weighing on the markets,” Richard Saperstein, chief investment officer at Treasury Partners, wrote in emailed commentary to the New York Post “Markets won’t rebound until tariffs are negotiated and reduced, until valuations move even lower to very compelling levels, and until fundamentals improve and none of these factors are in the cards at this time,” he added.

“Markets are gyrating from the potential recessionary impacts of tariffs and uncertain trade policy,” said Richard Saperstein Chief Investment Officer of Treasury Partners in emailed commentary to TheStreet “The reflects maximum volatility as earnings estimates begin to come down and consumer and business confidence decline.”

“We expect solid earnings growth this year, but some expectations are elevated and there will be companies that deliver growth, but fall short of expectations, which increases the risk of volatility, Richard Saperstein Chief Investment Officer of Treasury Partners in emailed commentary to TheStreet.”

“Protecting capital is key during a market like this when valuations are elevated,” said Richard Saperstein Chief Investment Officer of Treasury Partners in emailed commentary to MarketWatch. “We are more focused on the return of capital instead of the return on capital.”

“If you travel 1,000 miles to go fishing, the most important aspect is the last 30 feet where you’re presenting the fly to the fish,” said Richard Saperstein, chief investment officer at Treasury Partners. “Inflation has come down, yet the final stage in moving it towards [the Fed’s] anticipated goal of 2% is not occurring.”

“It's likely to be a slow burn,” Saperstein said, noting that it's “important to dig down and look at the composition of each bank's real estate portfolio.”

“Powerful tailwinds of moderating ination and a Fed pivot will continue to overwhelm moderating economic conditions and are set to push stocks higher in 2024,”

“The risks facing regional banks right now would be an environment of higher-for-longer rates”