August 8, 2025

WEEKLY TOUCHPOINT

Lately, this topic has been front and center in our conversations with clients: How much should I have in stocks versus bonds? It’s a simple question with a not-so-simple answer—because your stock-to-bond mix can have a lasting impact on both your returns and your peace of mind.

History shows that portfolios tilted toward stocks—say, 80% S&P 500—have generally produced higher long-term returns than those weighted heavily toward bonds. But with that extra growth potential comes more short-term volatility. The key is finding the balance that fits you—your goals, your time horizon, and your ability to ride out market swings. The right allocation can help you capture opportunities when markets rise, while keeping your plan on track when they don’t.

NEWS

•  Berkshire Shares Tumble as Buffett Has Five Months Left at the Helm to Make a Big Deal

• Housing Will Drag the Most on US Growth in H2 2025 Slowdown, Says Goldman

• SEC Is Now All In On Crypto. What’s Next?

• Dismal Jobs Data Gives Fed a Wake-Up Call on Interest Rates

• Crypto Get Ready to Spice Up 401(k)s

Wealth Mechanics™

What Issues Should I Consider Before I Update My Estate Plan?

An effective estate plan is never “set it and forget it.” Life changes, asset changes, and evolving laws can all affect how well your plan accomplishes your wishes. Before making updates, it’s important to step back and evaluate several key areas:

1. Beneficiary & Fiduciary Issues

• Have any beneficiaries, trustees, or executors passed away?

• Do you need to add or remove beneficiaries, including charitable organizations?

• Have there been marriages, divorces, births, or special needs considerations?

• Should you protect beneficiaries from risks like divorce, creditor claims, or poor money habits?

• Do you need to revise Powers of Attorney or your Living Will?

2. Assets & Property Related Issues

• Will your estate exceed the federal estate and gift tax exclusion ($13.99M single / $27.98M married in 2025)?

• Do you want to make new specific bequests?

• Have you purchased or sold a second home, or acquired property in multiple states?

• Have there been major changes in the value or ownership of your assets?

• Do you have digital assets that should be preserved?

3. Minors & Children Related Issues

• Have any children reached the age of majority, eliminating the need for guardians?

• For children under 18, do you need to appoint or change guardians or trustees?

• Do you have an adult child without a spouse or children who may need their own Powers of Attorney?

4. Other Issues

• Have there been changes to state or federal laws affecting your plan?

• Does your state have its own estate tax to consider?

 

Keeping your estate plan current ensures it reflects your life today—not the way it looked years ago. A thoughtful review with your advisor can help protect your legacy, your loved ones, and your peace of mind.

 

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Source: Financial-Planning.com

MARKET COMMENTARY

Equities

• U.S. stocks shook off recent jitters, with strong earnings and a “buy the dip” mood driving gains.

• Tariff headlines stayed in focus—reciprocal U.S. tariffs took effect, Indian goods faced a hike to 50%, and Swiss import talks stalled.

• Q2 earnings growth now sits at 11.8%, fueled by the “Mag 7” posting a hefty 25.7% increase versus 6.3% for the rest of the S&P 500.

• Tech led the charge (+4.3%), boosted by Apple’s $100B manufacturing investment, while consumer discretionary added 3.8%.

• Energy lagged (-0.9%) as oil prices hit an eight-week low; small-cap and growth stocks outpaced large-cap and value names.

 

Bonds

• Yields ticked higher as tariff tensions and a weak 10-year auction weighed on prices.

• 2-year Treasury yield rose to 3.76%, while the 10-year climbed to 4.27%.

• Long-duration government bonds struggled most; high-yield bonds delivered solid gains.

• Investment-grade corporates ended at 4.99% yields, with high-yield corporates at 7.31%.

 

Macroeconomic Data

• June factory orders slid -4.8%, pulled down by weak transportation demand.

• ISM Services PMI dipped to 50.1%—still narrowly in expansion territory.

• Jobless claims rose by 7,000, hinting at a cooling but stable labor market.

• Q2 productivity jumped 2.4%, easing labor cost pressures.

• The Bank of England cut rates to 4%, citing labor weakness but warning inflation could hit 4% by September.

INDEX RETURNS

(as of Monday’s Market Opening)

	Total Return (1D)	Total Return (1W)	Total Return (MTD)	Total Return (QTD)	Total Return (YTD)
S&P​ 500	0.08%	1.02%	0.87%	3.06%	8.72%
Dow Jones Industrial Average	0.24%	0.24%	0.34%	0.42%	4.08%
NASDAQ	-0.14%	1.74%	1.41%	5.16%	10.92%
NASDAQ 100	0.08%	1.90%	1.77%	4.19%	12.46%
Russell 1000	0.03%	2.41%	0.70%	3.01%	9.15%
Russell 2000	0.37%	2.89%	0.80%	2.48%	0.58%
Russell 3000	0.02%	2.43%	0.76%	3.04%	8.77%
ACWI	-0.06%	2.69%	1.40%	2.47%	13.02%

Source: MorningStar

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Disclosures

1. Wealth Mechanics™ is a registered trademark of Cestia Wealth Management. Unauthorized use of the trademark, including but not limited to commercial use, reproduction, or imitation without explicit written permission from Cestia Wealth Management, is strictly prohibited.
2. Market commentary provided by NewEdge Advisors
3. Charts concerning market data are provided by Exhibit A.
4. Guides and other downloadable firm material respective to financial planning processes and data are provided and powered by fpPathfinder.
5. Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser. Securities offered through NewEdge Securities, LLC. Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.
6. Cestia Wealth Management is not a legal tax professional. We offer tax gap analysis for clients who desire to have a comprehensive financial plan, which requires in-depth tax strategy and planning as a distinct part of the overall customized solution. Please consult your tax professional on all matters addressed in this report.
7. Information about annuities are not to be considered a recommendation. The information provided should not considered a recommendation to purchase or sell any particular security.
8. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.