Depending on the lookback period, it very well can be the best or worst of times. While the majority of the commodity trading advisor (CTA) industry does feature characteristics of medium-term trading programs; managed futures is still just an umbrella term for a group of strategies that differ mainly along a single dimension — how long a position is held.

The Societe Generale (SG) Trend Index, which tracks the 10 largest institutional trend-following CTAs and is representative of this medium-term group, entered August up 7.9%, above the 3.2% gain of the SG Short-Term Traders Index, which is defined as CTAs and macro manage

As advisors gathered at FOCUS 2026, conversations at the LPL Research booth highlighted a common theme: advisors are looking for ways to scale their businesses, enhance portfolio implementation, and deliver increasingly sophisticated strategies for clients. LPL broadly, and LPL Research specifically, have expanded offerings to help advisors do just that.

Five Takeaways From LPL Focus 2026

1. OCIO Services Generating Strong Advisor Interest. As advisory practices grow and client expectations evolve, many advisors are increasingly focused on how to scale investment management capabilities while maintaining personalized client

Demand continues to outpace record supply. Municipal bonds remain an attractive income opportunity in a market where the Federal Reserve (Fed) is likely to remain on hold and carry is driving returns. Despite record issuance of roughly $50 billion per month, demand has remained strong, supported by a reinvestment wave that is running approximately 40% above last year and favorable summer technicals.

The yield curve favors intermediate maturities. Within the market, the yield curve presents the clearest opportunity, with nearly 100 basis points of steepness from 1 to 30 years, making the intermediate maturities particularly compel

For generations, investors have operated within the framework of fixed exchange trading hours. That model is increasingly being challenged as global markets evolve. In July 2026, the London Stock Exchange (LSE) unveiled plans for LSE 24, a new trading venue intended to facilitate near-continuous trading throughout the business week. The initiative reflects a broader shift in market structure as advances in technology, changing investor preferences, and intensifying competition drive exchanges to expand beyond traditional trading sessions. This, too, comes after Nasdaq filed for SEC approval to extend the Nasdaq Stock Market trading hours to 2