Latest Cents of Security pod, Senior Economist Jose Torres breaks down three pivotal indicators:

• Labor pulse: Challenger Gray & Christmas showed December job cuts at multi‑year lows alongside firmer hiring intentions—dampening slowdown worries.
• Productivity pop: One of the strongest readings in the last decade, helping wage growth coexist with tamer inflation by lifting output per worker.
• Trade picture: The deficit narrowed to its lowest since 2009—with caveats around front‑loaded pharma imports and ongoing onshoring dynamics.
• Market leadership: Rotation days where Dow/Russell outpace S&P/Nasdaq, and why small caps can benefit from faster growth + rate cuts.
• Policy watch: How upcoming tariff decisions could sway rates, the fiscal backdrop, and near‑term margins without materially changing the broader inflation trend.

In this Cents of Security podcast, I’m joined by Jeffrey Fidelman, CEO of Fidelman & Company, to unpack what’s really driving today’s IPO pipeline—and how founders should think about fundraising in an AI‑first world.

Cents of Security host Mary MacNamara digs into why disaster losses keep breaking records—even when many hazards aren’t skyrocketing—with Patrick Brown, Head of Climate Analytics, at Interactive Brokers. They break down the disaster-risk equation (hazard × exposure × vulnerability), the “expanding bullseye” effect, why mortality from extreme events has fallen, and where adaptation and smarter zoning can move the needle.