Economic cycle

Showing of Insights Posts
1486716455
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Disappearing unicorns: The importance of capital efficiency in a higher-for-longer rate environment

Members of our late-state growth equity team share their views on the impact of interest rates on venture capital activity — including the ability of companies to reach “unicorns” status.

Continue reading
event
8 min
Whitepaper
2025-07-01
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs 4_sd_v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Alternative Investment Outlook

This collection provides timely ideas across the spectrum of alternative investments -- including hedge funds, private equity, and private credit.

Continue reading
event
Article
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
157561697
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

When the Fed sneezes, the ECB… cuts rates regardless?

Since the late 1990s, when the US cycle turned, the rest of the world generally followed, with a lag. However, the new economic era is likely to result in greater cyclical divergence between countries and the need for different central bank responses. How should investors think about the age of economic divergence?

Continue reading
event
7 min
Article
2025-03-21
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1489996632
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Has the European credit cycle been extended?

2024 has kept fixed income investors busy. Yet, despite lingering inflation and rate volatility, European credit markets have remained strong. Are we looking at an extended credit cycle? And if so, what does this mean for investors?

Continue reading
event
8 min
Article
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs 4_sd_v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Global Economic Outlook

Our macro strategists continue to expect that the interlinkages between countries, central bank policies, and market pricing will change, creating potentially attractive opportunities for active portfolio management and security selection.

Continue reading
event
Article
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs 4_sd_v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Governments have been slow to reduce their fiscal deficits — it could cost them

Our expert explores the investment implications of continued excessive deficit spending by G7 countries.

Continue reading
event
4 min
Article
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
monthly-market-snapshot-november-2023-173556726-v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Monthly Market Snapshot — April 2024

A monthly update on equity, fixed income, currency, and commodity markets.

Continue reading
event
20 min
Whitepaper
2025-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1401171512
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Value stocks: Rules of thumb are meant to be broken

What will it take for value stocks to bounce back from a long period of underperformance? Members of our iStrat Team say that, conventional wisdom aside, it's not all about the economic cycle and offer their outlook for the next three to five years.

Continue reading
event
9 min
Article
2026-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1384219104
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Exploring active opportunities amid continued regime change

Head of Multi-Asset Strategy, APAC, Nick Samouilhan outlines why today's environment of dispersion, divergence and disruption offers potentially compelling opportunities for active investors.

Continue reading
event
2 min
Video
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1096496308
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Powell back to waiting on inflation data

Our expert's key takeaways from the May FOMC meeting.

Continue reading
event
2 min
Article
2025-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1300497464
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

The Fed’s lessons learned from its COVID response

Fixed Income Portfolio Manager Brij Khurana breaks down the central bank's policy decisions during the pandemic and explains how they continue to affect financial markets.

Continue reading
event
6 min
Article
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
monthly-market-snapshot-november-2023-173556726-v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Monthly Market Snapshot — March 2024

A monthly update on equity, fixed income, currency, and commodity markets.

Continue reading
event
20 min
Whitepaper
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
monthly-market-snapshot-november-2023-173556726-v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Financial Market Review

A quarterly update on equity, fixed income, currency, and commodity markets.

Continue reading
event
19 min
Whitepaper
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
95145-maoartwork-final2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Do fundamentals support a risk-on tilt?

Surprisingly strong economic growth, declining inflation, easy financial conditions — can it get any better for markets? Members of our Investment Strategy & Solutions Group offer their outlook, including their latest views on equities, bonds, and commodities. 

Continue reading
event
Article
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
monthly-market-snapshot-november-2023-173556726-v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Monthly Market Snapshot — May 2024

A monthly update on equity, fixed income, currency, and commodity markets.

Continue reading
event
15 min
Whitepaper
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
monthly-market-snapshot-november-2023-173556726-v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Monthly Market Snapshot — February 2024

A monthly update on equity, fixed income, currency, and commodity markets.

Continue reading
event
Whitepaper
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1359344663
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Agency MBS key questions for 2024

Is there room for mortgage spreads to tighten further? Brian Conroy and Joseph Marvan examine this and seven other questions that will be significant for the agency MBS market in 2024.

Continue reading
event
Quick Take
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
645912480
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Is the US economy really that different since COVID?

US economists have been touting the resilience of the post-COVID economic rebound. Brij Khurana dissects several key economic indicators to see what's really changed since 2019. 

Continue reading
event
Article
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
bee-hero-navy-v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Income: the hard worker in your portfolio deserves more credit

Income from cash is good but income from bonds is better. In a less certain macro environment, Alex King, Supriya Menon and John Mullins think the case for income only gets stronger. How can investors make the most of opportunities? 

Continue reading
event
5 min
Article
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
wellington-swift-broken-plate-banner-hero
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

How to reposition for a new economic era?

In this short video, Macro Strategist John Butler outlines the key features of the new economic era we are now entering.

Continue reading
event
4 min
Video
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
164652560
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Why high-yield investors should keep a close eye on the default cycle

A peak in defaults may not be far off. What does this mean for investors considering a move to high yield? 

Continue reading
event
Article
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
monthly-market-snapshot-november-2023-173556726-v2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Monthly Market Snapshot — January 2024

A monthly update on equity, fixed income, currency, and commodity markets.

Continue reading
event
Whitepaper
2025-02-28
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Top 5 fixed income ideas for 2024

With central banks set to pivot to accommodative policy, and elevated yields still prevailing, we think fixed income offers compelling opportunities. Here we share our top five ideas.

Continue reading
event
Quick Take
2025-02-28
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
96908-2024-outlook-768x450
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Trends and transformation distilled: Our 2024 outlook in brief

Our experts explore investment opportunities and risks for the year ahead.

Continue reading
event
Article
2025-02-28
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1148429736
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Private market perspectives

Hear from private market experts across our early-stage venture, climate growth, late-stage biomedical, late-stage growth, private credit, and ESG  teams.  

Continue reading
event
Video
2025-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Bizarro World: Could 2024 be the opposite of 2023?

Fixed Income Portfolio Manager Brij Khurana details the dynamics that may upend investor expectations of a repeat of 2023 this year.

Continue reading
event
Quick Take
2025-01-17
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Fork in the road: Slowdown or reacceleration ahead?

Markets seem to expect a much smoother ride in 2024, but are they too optimistic? Members of our Investment Strategy & Solutions Group offer their macro and market outlook, including their latest views on equities, bonds, and commodities. 

Continue reading
event
Article
2026-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Global high-yield outlook: Near term, defensive but longer term, solid

High-yield portfolio managers Mike Barry and Konstantin Leidman discuss their 2024 outlook and the merits of a near-term defensive stance with an eye on longer-term opportunities.

Continue reading
event
Quick Take
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Credit: Better opportunities to add risk on the horizon

Our experts review current macro dynamics impacting the bond market and discuss where they see opportunities and risks across credit sectors.

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Will a “Goldilocks” economy be just right for equity markets?

We provide an outlook on the ongoing shift to new investment regime, and the market segments that we expect will most heavily influence global equity performance in the coming year. 

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Fed’s projections yielded mixed results this year — what’s in store for 2024?

Our Fed watcher opines on 2023 policy and looks ahead to 2024.

Continue reading
event
Quick Take
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1413013963
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Look past the cycle: The surprising total return potential of natural resources and commodities

Portfolio manager Nick Petrucelli explains the cyclical, structural, and macro tailwinds behind this opportunity.

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

The intersection of geopolitics and deglobalization

The geopolitical landscape is likely to remain complex and unpredictable throughout 2024. What are the key risks to watch out for and what are the implications for investors? 

Continue reading
event
Article
2024-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

The US economy in 2024: A tale of transition

Our US macro expert sees changes in consumer and investment spending in the coming year, and highlights what she'll be watching for in terms of policy, politics, and profit margins.

Continue reading
event
Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

2024: A year of intensifying macro regime change?

John Butler and Eoin O’Callaghan explore why 2024 could be a year of intensifying macro regime change and what it means for investors.

Continue reading
event
Article
2024-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Getting Real: China looks beyond real estate for economic success

Our experts explore signs of an improving macro picture in China.

Continue reading
event
Article
2024-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Have the Fed’s recent comments just provided a tailwind for agency MBS?

Fixed Income Portfolio Manager Brij Khurana explains why the market may be missing an important nuance in the Fed's focus on financial conditions.

Continue reading
event
Article
2024-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Securitized debt: Strategies for navigating emerging cracks in consumers’ financial health

Our expert highlights reasons for deteriorating consumer financial health and explores strategies for mitigating risk in securitized asset-backed securities.

Continue reading
event
Quick Take
2024-11-15
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1145233383
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Deglobalisation and divergence: opportunity or threat?

John Butler and Supriya Menon discuss the drivers underpinning growing macroeconomic divergence and deglobalisation and what it may mean for asset allocators. 

Continue reading
event
Article
2024-10-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Fed not yet willing to declare victory on inflation

We think the Fed is done raising rates for this cycle, despite the likelihood that they are being overly optimistic about inflation. Read to find out why.

Continue reading
event
Quick Take
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

How would emerging markets weather a “standard” recession?

Macro Strategist Gillian Edgeworth explores the potential impact of a developed market recession on emerging markets.

Continue reading
event
Quick Take
2024-08-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

How to interpret the Bank of Japan’s latest policy shift

We analyse the wide-ranging investment implications of the Bank of Japan's latest policy shift.

Continue reading
event
Quick Take
2024-08-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1011168744
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

A test for the global economy

What are the similarities and differences between the US regional banking crisis and 2008's global financial crisis? How likely is a recession? Should investors be focusing on value or growth? In this podcast, Macro Strategist Nanette Abuhoff Jacobson shares her interpretation of where the economy is headed, outlining where the risks and opportunities may lie for investors in the next 12 months.

Continue reading
event
Video
2024-07-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

New market regime, a new environment for global equities?

Global Equity Strategist Andrew Heiskell characterizes the new market regime, makes a case for shelving the old investment playbook, and shares potential investment implications for equity markets. 

Continue reading
event
Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

FX outlook: Is USD exceptionalism withering away with the Fed hiking cycle nearing an end?

Discover the status of the USD today, learn where the greenback may be headed going forward, and understand why.

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

When the US sneezes, does the world still catch a cold?

Macro Strategist John Butler discusses the growing potential for cyclical and monetary policy divergence, despite markets pricing for the contrary, and assesses what it means for investors.

Continue reading
event
Article
2024-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Europe/US divergence: the ECB has further to go

How far will Europe diverge from the US? Macro Strategist Eoin O’Callaghan sees several reasons sustaining this growing divergence. 

Continue reading
event
Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Global high yield: Attractive entry points could soon emerge

Fixed Income Portfolio Manager Konstantin Leidman shares his outlook for high-yield fixed income for the rest of this year and beyond.

Continue reading
event
Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Asia: A growth story with longer-term momentum

Is China’s recovery already running out of steam? Macro Strategist Santiago Millán assesses the outlook for China and Asia and sees longer-term momentum for growth. 

Continue reading
event
Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

The “money illusion” economy: Misplaced faith in markets?

Fixed Income Portfolio Manager Brij Khurana shares a skeptical view of US Federal Reserve policy, his assessment of the current market backdrop, and his view of what the future could hold.

Continue reading
event
Article
2024-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1432534577
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

How do bond investors approach the new volatile regime? 

Wellington fixed income experts provide an analysis on how to navigate short-term volatility and reposition portfolios for the structural changes occurring in fixed income markets. Watch the replay here. 

Continue reading
event
Event replay
2024-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Have you looked at Brazilian equities lately?

Equity Research Analyst David Reid believes now is an opportune time for EM equity investors to consider implementing or augmenting portfolio allocations to Brazilian stocks. 

Continue reading
event
Quick Take
2024-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Value investing: Alive and well in today’s market

Global Investment Strategist Nanette Abuhoff Jacobson expects the drivers of the next economic cycle to favor value stocks over their growth counterparts.

Continue reading
event
Quick Take
2024-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

US debt ceiling back in focus: The context matters

US Macro Strategist Mike Medeiros shares his latest thoughts on the US debt-ceiling standoff, including its potential outcomes and implications.

Continue reading
event
Quick Take
2024-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Did the Fed just make a policy error?

Did the Fed just make a policy error? All things considered, Fixed Income Portfolio Manager Jeremy Forster thinks the answer is yes. Learn why and what the implications could be.

Continue reading
event
Quick Take
2024-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
509674510
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Is the long-awaited change in Japan’s fortunes finally materialising?

Portfolio Manager Dan Maguire explores why Japan may finally be exiting deflation and assesses the opportunities this structural change could create for small- and mid-cap equities.

Continue reading
event
Article
2024-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

High-yield bonds: Too early to get aggressive?

Our high-yield team suggests a somewhat defensive risk posture for now but expects opportunities to take on greater risk to arise later this year.

Continue reading
event
Quick Take
2024-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Will higher rates sap US consumer spending?

Higher interest rates have increased borrowing costs. Could a consumer-led US recession be looming? Fixed Income Portfolio Manager Kyra Fecteau sees three factors that may help mitigate the impact.

Continue reading
event
Quick Take
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Macro risks to watch in this rapidly oscillating global cycle

Macro Strategist John Butler explores the two key questions he believes macro investors should focus on in the current volatile environment.

Continue reading
event
Quick Take
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Financial stability versus inflation: The Fed’s balancing act has gotten much trickier

The Fed’s policy calculus has clearly changed somewhat over the past few weeks but the central bank may not be done hiking rates just yet, says Fixed Income Portfolio Manager Jeremy Forster. 

Continue reading
event
Quick Take
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Wellington investor survey: The bears ponder whether inflation will be too hot, too cold or just right

Conducted prior to the collapse of Silicon Valley Bank, our latest quarterly survey of Wellington investors shows a majority of respondents being more bearish than the consensus view.

Continue reading
event
Quick Take
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
new-approach-dimensions-challenging-environment
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

What does the new macro regime mean for investors?

In this Q&A with two senior market practitioners we explore what the new macro regime means for investors and what to expect next.

Continue reading
event
Article
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

India: Structural tailwinds for 2023 and beyond

Following his recent trip to India, Macro Strategist Tushar Poddar shares why he's very positive on the country's medium- to longer-term structural outlook.

Continue reading
event
Quick Take
2024-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

US debt-ceiling risk: Justifiable jitters?

With markets on high alert around the US debt-ceiling standoff, Macro Strategist Juhi Dhawan lays out some possible paths forward and weighs the economic risks.

Continue reading
event
Quick Take
2024-02-29
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Sector rotation opportunities for nimble credit investors

Following a credit market rally, Fixed Income Portfolio Manager Rob Burn still sees value in higher-yielding sectors but believes investors should stay nimble.

Continue reading
event
Quick Take
2024-02-29
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

What’s driving convertibles in 2023?

Following a challenging 2022, Fixed Income Portfolio Manager Mike Barry and Investment Director Raina Dunkelberger highlight three tailwinds that may help turn the tide for convertibles.

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
podcasts mic stand and headphones
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Private equity market in 2023

In the first episode of WellSaid Season 2, Co-Head of Private Investing Michael Carmen joins host Thomas Mucha to share his constructive outlook for today's rapidly evolving private market landscape. In addition, they discuss the role of ESG in privates, how Wellington collaborates with entrepreneurs, and much more.

Continue reading
event
Article
2024-02-29
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Peak inflation, back to goldilocks? Not so fast

Portfolio Manager Nicholas Petrucelli explains why the market could be underestimating just how complex and volatile the global economic cycle is and details the implications for inflation.

Continue reading
event
Quick Take
2024-02-29
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
hero_unique_perspectives_daire-720-484
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Why investing in themes for EM equities may reap rewards

Portfolio Manager Dáire Dunne outlines why he is increasingly optimistic about the potential opportunities within select EM equity themes this year.

Continue reading
event
Article
2024-02-29
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

February Fed meeting: Chair Powell strikes a more optimistic tone

The Fed just might still be able to engineer the hoped-for "soft landing" but it's not going to be easy, says Fixed Income Analyst Caroline Casavant.

Continue reading
event
Quick Take
2023-09-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Why global investors should watch the Bank of Japan

Macro Strategist John Butler explores why global investors should watch the Bank of Japan and what is likely to happen next.

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

CLOs: Poised to outperform in 2023?

Collateralized loan obligations (CLOs) have been sparking investor interest lately — and with good reason, say Investment Director Andrew Bayerl and Investment Specialist Celene Klimas.

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Can US bank loans “carry” investors through 2023?

Fixed Income Portfolios managers Jeffrey Heuer, CFA and David Marshak and Investment Director Nick Leichtman describe what they see as the most prudent approach to the bank loans asset class in 2023 and why.

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
rocky-road-recovery-bumpy-conditions
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Multi-Asset Outlook — A rocky road to recovery in 2023

Markets may be jumping the gun when it comes to expectations for a policy pivot and the likely risk-asset rewards. Members of our Investment Strategy team still see bumps in the economic road, though their outlook has brightened a bit when it comes to China and other emerging markets.

Continue reading
event
Article
2024-07-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

US recession risk: No longer if, but when and how bad

Portfolio Managers Brij Khurana, Brian Garvey, and Nick Petrucelli believe many observers are underestimating the severity of a potential US recession this year. 

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Take credit: Our five best credit market ideas for 2023

Fixed Income Strategist Amar Reganti highlights credit market opportunities that he expects to arise over the course of 2023, against a backdrop of slowing growth.

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
hero-executive-summary
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Navigating the new global economy in 2023

This executive summary distills the points of view of several of our 2023 Outlook authors. Discover the risks and opportunities they see as we enter a new economic and market regime.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
picture-this-5-charts
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Picture this: Our 2023 economic forecast in five charts

We explain the shifts the market is undergoing, analyze the implications for different asset classes, and identify potential risks and opportunities in a series of visuals. 

Continue reading
event
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

High yield: Opportunity to pivot in 2023?

Our high-yield bond portfolio managers have a guardedly optimistic outlook on the market and believe security selection will be key to benchmark-relative outperformance in 2023. 

Continue reading
event
Quick Take
2024-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
healthcare 2023 outlook
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Health care outlook for 2023

Looking ahead to 2023, members of our health care team see meaningful innovation, supportive valuations, and a benign political and regulatory backdrop across biopharma, medical tech, and health care services sectors.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

The Fed’s unenviable task for 2023

Fixed Income Portfolio Manager Jeremy Forster offers his forward-looking take on the Fed's comments and latest rate hike coming out of its December meeting. 

Continue reading
event
Quick Take
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
2023 Global Economic Outlook
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Why Europe could surprise in 2023 

Eoin O’Callaghan and John Butler discuss the contrasting prospects of the Euro Area and the UK and why 2023 could bring positive surprises in the region.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
economic stock risk chart
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Perspectives on today’s alternative investment environment

Take a quick tour of the alternative investment environment with investors from across our macro research and hedge fund teams, as they explore the geopolitical landscape, macro volatility, and key trends like climate-change adaptation and digital tokenization.

Continue reading
event
Video
2023-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
china economy poised to exceed expectations in 2023
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

China’s economy: Poised to exceed expectations in 2023

With the bar set so low for China's economy, Macro Strategist Santiago Millan thinks it won't take much for an upside surprise in 2023. 

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Private credit in 2023
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Private credit in 2023: The benefits of a bear market?

We explore conditions in investment-grade private credit and go deeper on how today’s challenging overall market landscape could fuel opportunities for investors.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Recession risks and markets: Can we avoid a COVID hangover?

Current earnings forecasts and asset prices suggest overly optimistic expectations for the global economy and markets in 2023, according to Equity Portfolio Manager Dan Pozen.

Continue reading
event
Quick Take
2023-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
2023 Global Economic Outlook
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

2023: The year of disinflation for the US economy

In the coming year, US Macro Strategist Juhi Dhawan expects to see inflation begin to decline, the economy adjust to higher interest rates, and labor markets feel the pain of restrictive Fed policy.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
podcasts mic stand and headphones
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Fintech market overview: The intersection of disruption and dispersion 

In the latest episode of WellSaid, Portfolio Manager Matt Lipton and Global Industry Analyst Matt Ross join host Thomas Mucha to discuss their outlook for fintech in today's environment, exploring the recent pullback in the sector, disruptive fintech innovations, potential regulation, and much more.

Continue reading
event
Podcast
2023-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Wellington investor survey: inflationary Europe seen as top “problem child” of 2023

In the latest Wellington investor survey, inflationary Europe was seen as the top "problem child" of 2023.

Continue reading
event
Quick Take
2023-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
2023 Investment Strategy Outlook
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Thematic investing: Long-term thinking for a short-term world

With economic conditions expected to remain volatile in the coming year, members of our Investment Strategy team suggest that thematic allocations may help reduce the importance of the cycle to portfolio returns.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
2023 Equity Outlook
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

EM equity in 2023: Will the longest bear market in history continue?

We explore three key considerations for EM investors in today’s challenging environment and highlight potential winners and losers in 2023.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

November FOMC meeting: How slow can the Fed go?

Investment Specialist Caroline Casavant shares her takeaways from the November FOMC meeting, including thoughts on the likely pace of further Fed interest-rate hikes.

Continue reading
event
Quick Take
2023-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Bank of Japan policy shift: Waiting for the other shoe to drop?

Client Portfolio Manager Jitu Naidu and Investment Director Masahiko Loo share their take on the consensus view that Japan has reached several key inflection points.

Continue reading
event
Quick Take
2023-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Macroanalysis icons
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

A new economic era: Why inflation, volatility, and cycles are back

Macro Strategist John Butler argues that a seismic global shift is underway that will disrupt the macro dynamics of the past two decades, challenging long-held investment assumptions.

Continue reading
event
Video
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Can agency MBS bounce back from dismal performance?

Fixed Income Portfolio Manager Brian Conroy and two colleagues weigh in on the mortgage-backed securities (MBS) market in the wake of a very challenging month.

Continue reading
event
Quick Take
2023-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Fixed Income icons
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Credit market outlook: Partly sunny with a chance of good value

In his 2023 credit market outlook, Fixed Income Portfolio Manager Rob Burn highlights some potentially attractive opportunities in the wake of this year's market sell-off.

Continue reading
event
Article
2023-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Equity market volatility is perking up: Why now?

The recent uptick in equity volatility may be about looming macro and systemic risks in today's uncertain environment. Director of Global Derivatives Gordy Lawrence explains.

Continue reading
event
Quick Take
2023-10-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Storm-in-the-clouds
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
UK in the eye of the storm: which countries might be next?
Macro Strategist John Butler provides his latest take on what's happening in the UK and its broader global implications.
Continue reading
event
Article
2022-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
The Fed’s “lean, leave, then clean” strategy
US inflation could prove "stickier" than many observers think. How might that influence Fed policy into 2023? Fixed Income Portfolio Manager Jeremy Forster opines.
Continue reading
event
Quick Take
2022-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Wellington investor survey: Global recession tops investors’ concerns
The latest Wellington investor survey shows that our investment teams are increasingly concerned about the economic cycle, with 45% seeing a global recession over the next 12 months as the most likely outcome.
Continue reading
event
Quick Take
2022-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Positioning for a “pricey” recession scenario
Client Portfolio Manager Jitu Naidu and Fixed Income Strategist Amar Reganti offer portfolio positioning ideas for the potential recession scenario that may lie ahead.
Continue reading
event
Quick Take
2022-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
a shiftting macro landscape qe china and europe
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
A shifting macro landscape: QE, China, and Europe
We explore the changing macro environment, highlighting the investment implications of the end of quantitative easing programs, the state of the Chinese cycle, and an evolving outlook on Europe.
Continue reading
event
Article
2023-08-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Reckoning with recession risk: Why this one may be “pricey”
Client Portfolio Manager Jitu Naidu shares his latest take on the looming risk of a global economic recession and related issues.
Continue reading
event
Quick Take
2022-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Fixed income: Relative value opportunities amid growth slowdown
In the face of this year's fixed income market turmoil, Fixed Income Portfolio Manager Rob Burn sees attractive opportunities for investors with longer-term time horizons.
Continue reading
event
Quick Take
2022-10-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Fintech industry outlook in a recession
We explore the current environment for the fintech industry and highlight a few factors that show why the outlook for payments and other related subindustries may be less challenging than many may anticipate.
Continue reading
event
Quick Take
2023-07-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Credit investing against a slower-growth, higher-inflation backdrop
The significant flattening of the US Treasury yield curve in recent months has some prognosticators calling for an impending US recession. Not so fast, says Fixed Income Portfolio Manager Rob Burn.
Continue reading
event
Quick Take
2022-07-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
678836663
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid-2022 Global Economic Outlook
We believe heightened geopolitical uncertainty, and the new macro environment of deglobalization, higher inflation, greater global cyclicality and volatility will disrupt and drive markets.
Continue reading
event
Article
2023-07-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
US housing: There’s no place like home
While US housing activity is slowing, positive fundamentals and favorable supply/demand dynamics may continue to support the sector.
Continue reading
event
Quick Take
2022-10-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.