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Could the global policy response misfire?
In their mid-year macro outlook, Macro Strategists John Butler and Eoin O’ Callaghan discuss how the global policy response to the trade shock could misfire, with major implications for investors.
Article
2026-06-30
International equities: Five reasons they may not be a one-hit wonder
Global Investment and Multi-Asset Strategist Nanette Abuhoff Jacobson explains why those who doubt the staying power of the recent outperformance of international equities may want to reconsider.
4
min
Article
2026-05-31
Quarterly Market Review — 1Q25
An update on equity, fixed income, currency, and commodity markets.
18
min
Article
2026-04-30
Monthly Market Review — January 2025
A monthly update on equity, fixed income, currency, and commodity markets.
18
min
Article
2026-02-28
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.
5
min
Video
2026-01-28
Quarterly Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
18
min
Article
2026-01-31
Monthly Market Review — December 2024
A monthly update on equity, fixed income, currency, and commodity markets.
18
min
Article
2026-01-31
Monthly Market Review — November 2024
A monthly update on equity, fixed income, currency, and commodity markets.
18
min
Article
2025-12-31
Alternative Investment Outlook
This collection provides timely ideas across the spectrum of alternative investments -- including hedge funds, private equity, and private credit.
Article
2025-12-31
Going their separate ways: Capitalizing on bond divergence
Our fixed income experts discuss how to position portfolios for a world of uncertainty and divergence, exploring key themes and evolving bond opportunities for 2025.
7
min
Article
2025-12-31
Time to get active? 5 equity investment ideas for 2025
As we head into 2025, growth seems poised to accelerate, especially in the US. Equity Strategist Andrew Heiskell and Macro Strategist Nicolas Wylenzek see five themes that may create opportunity across global equity markets.
10
min
Article
2025-12-31
Is your portfolio keeping pace with the changed outlook?
It's been an uncertain few years for investors, but looking ahead, we believe investors can expect a resilient economy, a solid outlook for growth and a positive environment for risk assets. What does a changed outlook mean for investors?
8
min
Article
2025-12-31
Monthly Market Review — October 2024
A monthly update on equity, fixed income, currency, and commodity markets.
18
min
Article
2025-11-30
Quarterly Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
18
min
Article
2026-10-31
Monthly Market Review — September 2024
A monthly update on equity, fixed income, currency, and commodity markets.
18
min
Article
2025-10-31
What is “the economic cycle,” anyway?
See why the relationship between asset prices and the economic cycle is more complex than you might think, why a US recession is unlikely, and what a more dovish Fed could mean for the US and global markets.
5
min
Article
2025-10-31
Chart in Focus: What does the rate cut mean for equities and bonds?
Are rate cuts positive? On the heels of the much-anticipated initial Fed cut, in this article we look to historic precedent for where the markets could go in the coming months.
3
min
Infographic
2025-09-30
Monthly Market Review — August 2024
A monthly update on equity, fixed income, currency, and commodity markets.
12
min
Article
2025-09-30
Monthly Market Review — July 2024
A monthly update on equity, fixed income, currency, and commodity markets.
12
min
Article
2025-08-31
Harris vs Trump: The foreign policy and investment implications
Our expert examines expected Harris and Trump foreign policies and their potential impact on the investment landscape.
4
min
Article
2025-02-28
Walking a mile in Fed Chair Powell’s shoes
A slow roll on rate cuts by the Fed could frustrate markets and lead to more volatility ahead of the September FOMC meeting. See our take on what to expect for the next few weeks.
4
min
Article
2025-08-31
Still waiting…Fed wants more data before cutting policy rates
Our expert dives into Fed policy following the July FMOC meeting.
3
min
Article
2024-10-31
Office to multifamily conversions: Implications for CMBS investors
Our experts explore the emerging trend in some US cities of converting office space into multi-family units and its implications for bond investors.
5
min
Article
2025-07-31
Financial Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
17
min
Article
2026-07-31
Monthly Market Snapshot — June 2024
A monthly update on equity, fixed income, currency, and commodity markets.
17
min
Whitepaper
2025-07-31
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.
8
min
Whitepaper
2025-07-31
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?
7
min
Article
2025-03-21
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?
8
min
Article
2025-06-30
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.
4
min
Article
2025-06-30
Monthly Market Snapshot — April 2024
A monthly update on equity, fixed income, currency, and commodity markets.
20
min
Whitepaper
2025-05-21
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.
9
min
Article
2026-05-31
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.
2
min
Video
2025-04-30
Powell back to waiting on inflation data
Our expert's key takeaways from the May FOMC meeting.
2
min
Article
2025-05-31
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.
6
min
Article
2025-04-30
Monthly Market Snapshot — March 2024
A monthly update on equity, fixed income, currency, and commodity markets.
20
min
Whitepaper
2025-04-30
Financial Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
19
min
Whitepaper
2025-04-30
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.
Article
2025-03-31
Monthly Market Snapshot — February 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2025-03-31
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.
Quick Take
2025-03-31
Monthly Market Snapshot — May 2024
A monthly update on equity, fixed income, currency, and commodity markets.
15
min
Whitepaper
2025-03-31
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.
Article
2025-03-31
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?
5
min
Article
2025-03-31
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.
4
min
Video
2025-03-31
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?
Article
2025-03-31
Monthly Market Snapshot — January 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2025-02-28
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.
Quick Take
2025-02-28
Trends and transformation distilled: Our 2024 outlook in brief
Our experts explore investment opportunities and risks for the year ahead.
Article
2025-02-28
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.
Quick Take
2025-01-17
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.
Article
2026-01-31
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.
Quick Take
2024-12-22
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.
Article
2024-12-31
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.
Article
2024-12-31
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.
Quick Take
2024-12-14
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.
Article
2024-12-11
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?
Article
2024-11-30
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.
Article
2024-11-30
Getting Real: China looks beyond real estate for economic success
Our experts explore signs of an improving macro picture in China.
Article
2024-11-27
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.
Article
2024-11-21
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.
Quick Take
2024-11-20
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.
Quick Take
2024-09-21
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.
Quick Take
2024-08-04
Core fixed income: Stop me if you’ve heard this one before
Head of Multi-Asset Strategy – Insurance and Portfolio Manager Tim Antonelli updates insurers on the status of the market today, shares what he believes they can expect for the rest of the year, and identifies areas that may be worth a closer look.
Article
2024-07-31
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.
Quick Take
2024-02-29
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.
Quick Take
2024-02-29
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.
Quick Take
2024-01-31
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.
Quick Take
2024-02-29
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.
Quick Take
2023-09-30
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.
Quick Take
2024-01-31
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.
Quick Take
2024-01-31
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.
Quick Take
2024-01-31
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.
Quick Take
2024-01-31
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.
Article
2023-12-31
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.
2023-12-31
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.
Quick Take
2024-01-31
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.
Article
2023-12-31
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.
Quick Take
2023-12-31
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.
Video
2023-11-30
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Quick Take
2023-11-30
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.
Article
2023-12-31
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.
Podcast
2023-11-30
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.
Article
2023-12-31
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.
Quick Take
2023-01-31
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.
Quick Take
2023-01-31
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.
Video
2023-12-31
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.
Quick Take
2023-01-31
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.
Article
2023-12-31
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.
Quick Take
2023-10-31
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
Article
2022-12-31
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
Quick Take
2022-12-31
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
Quick Take
2022-11-30
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
Quick Take
2022-11-30
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
Article
2023-08-31
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
Quick Take
2022-11-30
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
Quick Take
2022-10-31
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
Quick Take
2023-07-31
US housing: Are the headwinds stronger than the tailwinds?
In the second of a two-part series, Fixed Income Credit Analyst Daniel Kim looks at the downside risks facing the US housing market and concludes that positive structural trends around supply, affordability, and home prices should continue to support the sector.
Continue reading
Quick Take
2022-10-31
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
Quick Take
2022-07-31
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
Article
2023-07-31
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
Quick Take
2022-10-31
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