In the first episode of Schwab's new podcast, On Investing, hosts Liz Ann Sonders and Kathy Jones introduce each other and explain what matters to them as they analyze the equity and bond markets. They also discuss the current market cycle and what the broader picture might tell us. Liz Ann Sonders is Schwab's chief investment strategist. She's regularly quoted in financial publications including The Wall Street Journal, The New York Times, Barron's,and the Financial Times.She also appears asa regular guest on CNBC, Bloomberg, CNN, Yahoo! Finance, and Fox Business News. Liz Ann has been named "Best Market Strategist" by Kiplinger'sPersonal Finance and one of SmartMoney magazine's "Power 30." Barron's has named her to its "100 Most Influential Women in Finance" list, and Investment Advisor has included her on the "IA 25," its list of the 25 most important people in and around the financial advisory profession.Kathy is Schwab's chief fixed income strategist. She is a regular guest on CNBC, Yahoo Finance, Bloomberg TV, and many other networks and is often quoted by  The Wall Street Journal, The New York Times, Financial Times, and Reuters. Kathy has been an analyst of global credit markets throughout her career, working with both institutional and retail clients.On Investing is an original podcast from Charles Schwab. For more on the show, visit Schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThe comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.​Data contained herein from third party providers is obtained from what are considered reliable source. However, its accuracy, completeness or reliability cannot be guaranteed and Charles Schwab & Co. expressly disclaims any liability, including incidental or consequential damages, arising from errors or omissions in this publication.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.​Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.Diversification strategies do not ensure a profit and do not protect against losses in declining markets.Rebalancing does not protect against losses or guarantee that an investor’s goal will be met. Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.Investing involves risk including loss of principal.​Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB.(1023-3NVC)