Mar 30, 2023
The new regime of greater macro and market volatility is playing out – and is not going away. See our updated Global Outlook chart deck for 2023.
Feb 21, 2023
Markets are waking up to our expectation of more central bank rate hikes as inflation proves sticky. We go overweight U.S. short-term bonds. Learn why.
Dec 5, 2022
The new regime is playing out. Read why we think that requires a new, dynamic playbook based on views of market risk appetite and pricing of macro damage.
Nov 30, 2022
The Great Moderation, the four-decade period of largely stable activity and inflation, is behind us. The new regime of greater macro and market volatility is playing out. That’s why a new investment playbook is needed.
Oct 31, 2022
We see central banks on a path to overtighten policy. Their balance sheet reductions up selling pressure on government bonds, so we’re underweight. Read more.
Oct 17, 2022
We’re underweight government bonds because yields have room to move higher, and we don’t think they can be a safe haven when recession comes. Read why.
Sep 19, 2022
A new regime of macro volatility is playing out with weaker growth, persistent inflation and volatile markets. Read why we reaffirm our tactical views.
Aug 8, 2022
We prefer credit over equities in the short term as a new market regime with higher volatility takes shape, in our view. Read our commentary to learn why.
Jul 25, 2022
Market views of Fed rate hikes have swung. Read why we expect more volatility as long as central banks think they can curb inflation without crushing growth.
Jul 18, 2022
Europe is facing the risk of an energy shock-driven recession and periphery stress. Read how we think that will affect the ECB’s plans to hike interest rates.
Jul 11, 2022
We’ve downgraded most developed market equities to underweight in the short term, while we lean into credit. Read more in our market commentary.
Jul 11, 2022
The Great Moderation, a period of steady growth and inflation, is over, in our view. Instead, we are braving a new world of heightened macro volatility – and higher risk premia for both bonds and equities.
May 9, 2022
We upgrade European government bonds and investment grade credit, and downgrade Chinese assets to reduce risk amid a worsening macro outlook. Learn more.
Apr 25, 2022
We like emerging market local debt within an overall bond underweight. Much monetary tightening has been done, and valuations are compelling. Read our market commentary.
Mar 29, 2022
We update our Q2 2022 outlook views in the wake of the energy shock and the Fed’s hawkish pivot on rates. Learn more in our global weekly market commentary.
Mar 7, 2022
We see developed market government bonds as ineffective portfolio diversifiers in the current inflationary environment. Learn why, read the weekly commentary.
Feb 28, 2022
We now have more clarity on the Ukraine conflict and see a reduced risk of aggressive central bank policies to curb inflation. Read the weekly commentary.
Jan 24, 2022
We trim our underweight of U.S. Treasuries. Learn why in the Global weekly commentary.
Jan 18, 2022
We believe the historically low sum total of rate hike is key, not the timing. Learn more in the Global weekly commentary.
Dec 16, 2021
We are entering a new market regime unlike any in the past half century.
Nov 22, 2021
Inflation was a key topic at our 2022 Outlook Forum. Read about the discussions in our Global weekly commentary.
Oct 4, 2021
What does the recent Treasury yield spike mean for investors? Read more in our Global weekly commentary.
Jul 26, 2021
How to take advantage of near-term market volatility? Learn more in our Global weekly commentary.
Jul 6, 2021
The office isn’t dead, but flexible working may help drive a dispersion in the market. Read more in our Global weekly commentary.
Jul 2, 2021
The restart of economic activity is real - and we remain pro-risk as it broadens. The more consequential question: What lies beyond?
Jun 28, 2021
What do potentially higher taxes mean for U.S. equities? Read more in our Global weekly commentary.
Jun 21, 2021
The Fed is catching up with the powerful economic restart reality. Read more in our Global weekly commentary.
Jun 7, 2021
We expect the ECB to maintain its current pace of asset purchases. Read about why in the Global weekly commentary.
May 10, 2021
Markets are still grappling with the Federal Reserve’s new policy framework. Read more in the Global weekly commentary.
Apr 26, 2021
A powerful economic restart is underway, we stay pro-risk and adjust our tactical views. Read more in the Global weekly commentary.
Apr 12, 2021
Emerging market assets have had a rough start to the year. What lies ahead? Read more in the Global weekly commentary.
Mar 15, 2021
We lay out three reasons why we see a strong restart ahead – not a typical recovery. Read more in the weekly commentary.
Mar 8, 2021
We see UK and European equities likely benefitting from a broad activity restart. Read more in the weekly commentary.
Feb 22, 2021
We share our latest asset view changes, including why we are downgrading government bonds tactically, in the weekly commentary.
Feb 16, 2021
The fiscal debate has come into focus as rising debt levels and inflation one day may threaten the low-rate regime. Read our weekly commentary for insights.
Feb 1, 2021
FTC - Hart-Scott-Rodino Coverage, Exemption, and Transmittal Rules
Feb 1, 2021
FTC - Hart-Scott-Rodino Rules Advanced Notice of Proposed Rulemaking (ANPRM)
Jan 25, 2021
What do rising inflation expectations mean? Read our weekly commentary.
Jan 11, 2021
Read about implications of the Democrats' new slim majority in Congress.
Dec 29, 2020
We have entered a new investment order. The Covid-19 pandemic has accelerated profound shifts in how economies and societies operate.
Dec 7, 2020
Read about the reason behind our pro-risk stance for 2021.
Nov 30, 2020
Read about our latest views on credit.
Oct 29, 2020
We see a new investment landscape. The impact from Covid-19 will change the course of society, the economy and financial markets for years to come.
Oct 26, 2020
We are updating tactical views on government bonds.
Oct 5, 2020
Read about the implications of the U.S. election for key sectors.
Sep 28, 2020
Read about major policy implications of the U.S. election.
Sep 14, 2020
Read about why we are maintaining our pro-risk stance.
Sep 7, 2020
Read about how to approach strategic asset allocations in the post-Covid world.
Aug 10, 2020
Read about what's behind the U.S. dollar's recent slide.
Jul 20, 2020
We see European stocks as key beneficiaries of the global economic restart.
Jun 29, 2020
Read about the key takeaways from our midyear outlook.
Jun 26, 2020
The coronavirus shock is accelerating structural trends in inequality, globalization, macro policy and sustainability. This is fundamentally reshaping the investment landscape.
Jun 22, 2020
Read about why we are warming up to European assets in our weekly commentary.
May 11, 2020
We review our stance on euro area peripherals after a surprise German court ruling.
Apr 6, 2020
We upgrade our view on credit at the wake of policy response to the coronavirus shock.
Mar 23, 2020
We favor rebalancing portfolios after the selloff in equities and other risk assets. Read why in our Weekly Commentary.
Mar 16, 2020
We do not see the coronavirus shock sparking a 2008-like crisis. Read why in our weekly commentary.
Mar 2, 2020
How is the coronavirus outbreak affecting our outlook on global growth – and asset views? Learn more in our weekly commentary.
Feb 17, 2020
We see global growth edging higher in 2020, though the coronavirus outbreak has added uncertainties around the timing of the pickup.
Jan 27, 2020
We explain why we like cyclical assets including Japanese and emerging market equities in our weekly commentary.
Jan 20, 2020
We explain why we like cyclical assets including Japanese and emerging market equities in our weekly commentary.
Jan 13, 2020
We highlight three key themes in geopolitics to monitor in 2020 – and what it means for investing – in our weekly commentary.
Jan 6, 2020
We lay out some reasons behind our preference for Treasury Inflation-Protected Securities (TIPS) in our Weekly commentary.
Dec 19, 2019
Powerful structural trends are testing limits — and threaten to intersect with the near-term outlook and become market drivers.
Dec 16, 2019
We have made meaningful changes to our asset views heading into 2020. Read more in our Weekly commentary.
Dec 9, 2019
Why should you read our 2020 Global outlook? We highlight the key takeaways in our weekly commentary.
Dec 6, 2019
Learn about our 2020 investment outlook. We highlight three new investment themes and update our asset views under our new tactical asset allocation framework.
Dec 2, 2019
We identified the protectionist push as a key market driver early this year but we did not foresee the massive move down in global yields. Read more in our weekly commentary.
Nov 25, 2019
Today’s ultra-low yield backdrop challenges the role of government bonds as portfolio ballast. Read more in our weekly commentary.
Nov 18, 2019
Sustainable investing is quickly catching up in fixed income thanks to new tools and insights. Read more in our weekly commentary.
Nov 11, 2019
What lies ahead in 2020? Our answer will depend on debates at our outlook forum this week. Read more in our weekly commentary.
Nov 4, 2019
The Federal Reserve has signaled the end of its rate cuts for now. What next? Read more in our weekly commentary.
Oct 28, 2019
EM debt has rallied amid a perceived easing of trade tensions. We cover the investing implications in our weekly commentary.
Oct 21, 2019
We see geopolitical risks as a persistent key driver of the global economy and markets. Read why in our weekly commentary.
Oct 14, 2019
Why do we maintain our underweight on Japanese equities despite their recent rally? Read details in our weekly commentary.
Oct 2, 2019
We update our outlook on the economy for the rest of 2019 and its investment implications. Read more in our weekly commentary.
Sep 30, 2019
We revisit our 2019 investment themes and illustrate how geopolitics has become the key driver of economies and markets.
Sep 16, 2019
Where is U.S. economy going against the background of ongoing trade tensions? Read our take in the weekly commentary.
Sep 9, 2019
Deep divisions over a potential Brexit have unsettled UK politics. We examine the investing implications in our weekly commentary.
Sep 3, 2019
Intensifying trade frictions reinforce a key theme of our outlook but may challenge our moderately pro-risk stance. Read more.
Aug 5, 2019
We see dovish monetary policies extending the cycle and supporting risk assets, with protectionism the key risk. Read more in our weekly commentary.
Jul 22, 2019
We expect the ECB to shift decisively dovish in coming months and upgrade European assets. Read more in our weekly commentary.
Jul 15, 2019
Central banks’ dovish pivot should stretch the cycle, supporting our upgrade of EM debt. Read more in our weekly commentary.
Jul 8, 2019
We refresh our 2019 investment themes and update our asset views against a backdrop of slowing growth and rising macro uncertainty.
Jul 1, 2019
Gulf tensions have spiked, but oil prices have not reacted as strongly. Why the disconnect? Read more in our weekly commentary.
Jun 24, 2019
Major central banks have shifted toward more dovish stances. We examine the implications for our bond views.
Jun 17, 2019
The firm’s senior decision makers debated the midyear market outlook last week in London. We share the gist of our debates.
Jun 10, 2019
We share takeaways from a field trip to China amid rising U.S-China rivalry. Read details in our weekly commentary.
Jun 3, 2019
The Fed is considering a new policy framework to better steer inflation expectations. We examine the implications.
May 28, 2019
What do heightened geopolitical tensions mean for cyber risks? Read our take in the weekly commentary.
May 20, 2019
We see high yield bonds as a key source of income in bond portfolios, and advocate a balanced approach. Read more.
May 13, 2019
Low market volatility may not indicate low risks, especially in the late-cycle phase. Read more in our weekly commentary.
May 6, 2019
U.S. earnings growth has slowed markedly from 2018, yet the first quarter was surprisingly resilient. Read our earnings takeaways.
Apr 29, 2019
What would U.S.-Europe trade tensions mean for the economy and financial markets? Read the weekly commentary to find out.
Apr 22, 2019
China’s local-currency bond market is opening up to global investors. We cover the investing takeaways in our weekly commentary.
Apr 15, 2019
We showcase a new set of tools for assessing climate-related risks to portfolios. Read more in our weekly commentary.
Apr 8, 2019
We take a cautious short-term stance toward U.S. Treasuries yet still advocate exposure. We explain in our weekly commentary.
Apr 1, 2019
What are our views on the global economy and markets for the second quarter? Read more in our weekly commentary.
Mar 25, 2019
What does tech disruption mean to investors interested in the tech sector? Read more in our weekly commentary.
Mar 11, 2019
Small cap stocks are on a tear, yet we advise caution on chasing the rally. Read more in our weekly commentary.
Mar 11, 2019
Small cap stocks are on a tear, yet we advise caution on chasing the rally. Read more in our weekly commentary.
Mar 4, 2019
We see growing attraction of inflation-protected U.S. government bonds, given the economic and monetary policy outlook. Read more in our weekly commentary.
Mar 1, 2019
Bonds are making a comeback. They have become a viable source of income amid higher U.S. interest rates, a slowing but growing U.S. economy and a pause in the Federal Reserve’s tightening cycle.
Feb 25, 2019
We see potential for positive returns for Chinese stocks, but would be more selective. Read more in our weekly commentary.
Feb 12, 2019
Emerging market debt has sharply rallied this year. Is now a good time to buy? Read our take in our weekly commentary.
Feb 4, 2019
Global stocks have started 2019 with a bang. Read about how to approach the rally in our weekly commentary.
Jan 28, 2019
We see compelling relative value in the BBB-rated segment of the European credit market. Read more in our weekly commentary.