Energy Stocks, Housing, & the Overstretched Consumer

Each week, the Stokes Family Office staff puts together a list of our favorite news and updates on all things wealth management. From financial planning, portfolio construction, tax and estate planning, and retirement plan services to anything we found interesting.  Enjoy this week’s curated list for your weekend reading!

ECONOMY NEWS

US Private Sector Balance Sheets in Excellent Shape

• Torsten Slok: The private sector in the US is in really good shape. Households have been deleveraging since the 2008 financial crisis, and the corporate sector has been deleveraging since COVID. Unfortunately, the government’s balance sheet is not in good shape. Government debt to GDP has increased steadily from 40% of GDP in 2007 to more than 100% today.

Does the U.S. Actually Have a Housing Shortage?

• Nick Maggiulli: Many people are debating why the U.S. housing market is broken. Some blame interest rates. Some blame prices. Some blame zoning laws. While the truth is a mix of all of these factors, there’s one thing that no one seems to agree on—supply. Does the U.S. actually have a housing shortage, or is something else going on?

Short- and Medium-Term Inflation, Interest Rates, and The Overstretched Consumer

• The Bonddad Blog: The overall picture is that of an overstretched US consumer, unable to absorb price increases, and driving recessionary-type price concessions from sellers, with little prospect of longer-term relief as interest rates are unforgiving.

Related:

• • • Shelter Inflation & The AI Gamble
    • A New Fed Chair, Manufacturing, & Diversification
    • 4th Quarter 2025 Update
    • Newsweek Names Stokes Family Office One of America’s Top Financial Advisory Firms 2026

MARKETS NEWS

Agentic AI Isn’t Eating Software – It’s Feeding Market Volatility

• David Parsons: The sharp sell‑off across software names in recent weeks has prompted questions from investors, many centred on whether the rapid rise of agentic artificial intelligence marks the beginning of a deeper structural shift in enterprise technology.

Energy Leads This Year as Tech and Financials Fall Behind

• The Capital Spectator: Energy, basic materials, and defensive consumer stocks are in. Tech and financials are out. That, at least, is Mr. Market’s view so far in 2026, based on a set of US equity sector ETFs

If This Breaks Out, Good Luck Being Bearish

• J.C. Parets: Let’s talk about small-cap financials. This chart carries the most bullish implications in the entire market. And if it resolves higher, it could make it difficult for this bull market to roll over in any meaningful way.

CHART(S) OF THE WEEK

Via Ken Cao, de-China-ization is no longer a theory. It’s happening.

Stokes Family Office is 100% Family Owned, and has been continually operating in the New Orleans Area for over 35 years.  As a family office, we are focused on family wealth, financial planning, and tax planning. We are your local experts for Gulf South wealth management. Want to hear more from our team? Check out the Lagniappe Podcast.