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Global Fixed Income markets are at a crossroads. Read our latest insights on the asset class here.
Finding the Signal Through the Noise
Our commitment to Responsible Investing
Looking ahead to keep our clients on the right side of change
September 2023 / ECONOMICS
Theatrics aside, a budget agreement seems likely in the near term.
By Gilad Fortgang
Gilad Fortgang Washington Associate Analyst, US Equity Division
September 2023 / MARKETS & ECONOMY
They may not fully understand its impact.
By Tomasz Wieladek
Tomasz Wieladek Chief European Economist
Consumer fundamentals seem to be weakening from a strong position
By Blerina Uruçi
Blerina Uruçi US Economist
September 2023 / GLOBAL FIXED INCOME
The consensus view shift toward a mild downturn looks misplaced.
By Arif Husain
Arif Husain Head of International Fixed Income and CIO
September 2023 / INVESTMENT INSIGHTS
Driving deliberate innovation with artificial intelligence tools to boost human decision-m...
By Robert W. Sharps
Robert W. Sharps Chief Executive Officer and President
Rate volatility is likely to persist as Fed pursues 2% inflation target
By Christina Noonan
Christina Noonan Associate Portfolio Manager, Multi‑Asset Division
Central banks set to kick off easing cycles as inflation cools.
By Christopher J. Kushlis
Christopher J. Kushlis Chief of China and Emerging Markets Macro Strategy
September 2023 / MARKET EVENTS
Regulatory changes will do little to solve higher cost of funding.
By Matt J. Snowling & Pranay Subedi
September 2023 / U.S. GOVERNMENT POLICY
Competition with China and consumer safety are key themes.
Gilad Fortgang Washington Associate Analyst, U.S. Equity Division
September 2023 / VIDEO
As AI automates more processes, the volume, variety, and speed of data should increase....
By Sam Johnson
Sam Johnson Infrastructure Software Analyst, U.S. Equity Division
August 2023 / FIXED INCOME
Despite weakness, China’s core financial system seems insulated.
By Samy Muaddi, Christopher J. Kushlis & Michael Summers
August 2023 / ESG
It could rival the Industrial Revolution in scale.
By Justin Thomson & Christopher Vost
August 2023 / MARKETS & ECONOMY
Property sector weakness weighing on confidence
Key trends in T. Rowe Price Investment Management’s proxy voting activity over the...
By Christopher Whitehouse
Christopher Whitehouse Regional Head of Corporate Governance
Key trends in T. Rowe Price’s proxy voting activity over the past year.
By Donna Anderson & Jocelyn Brown
August 2023 / MULTI-ASSET
Understanding the drivers of domestic and global inflation.
By Multiple Authors
August 2023 / VIDEO
Attractive valuations and improving fundamentals may boost commodities.
By Timothy C. Murray
Timothy C. Murray Capital Markets Strategist
High yield bonds paired with long-term Treasuries offer attractive carry.
By Sébastien Page
Sébastien Page Head of Global Multi-Asset and Chief Investment Officer
A new era of Gulf aid could emerge—which countries could potentially benefit, and...
By Razan Nasser
Razan Nasser Sovereign Research Analyst, Fixed Income
August 2023 / ASSET ALLOCATION
Timothy C. Murray Capital Markets Strategist Multi‑Asset Division
August 2023 / GLOBAL FIXED INCOME
Portfolio managers collaborate to help shape duration positioning.
July 2023 / INVESTMENT INSIGHTS
Introducing the Net Zero Transition Product Framework to help clients meet income...
By Steve Boothe, David Stanley & Matthew Lawton
July 2023 / IMPACT INVESTING
Using measurement and engagement to tackle ESG fractures head-on
By Harishankar Balkrishna
Harishankar Balkrishna Portfolio Manager, Global Impact Equity Strategy
Lessons from the Global Financial Crisis have left a stronger banking sector in Europe,...
By Rob Thomas
Rob Thomas Credit Analyst
What to expect as monetary policy tightening moves closer to ending.
By Scott Solomon & Quentin S. Fitzsimmons
Five forces defining the equity cycle.
By Scott Berg
Scott Berg Portfolio Manager, Global Growth Equity Strategy
Hawkish stances risk overtightening and causing recession
June 2023 / MARKETS & ECONOMY
Sticky inflation and further rate hikes reduce soft landing odds.
Blerina Uruçi Chief U.S. Economist
June 2023 / VIDEO
By Michael Pinkerton
Michael Pinkerton Washington Associate Analyst U.S. Equity Division
The US and UK face a tougher challenge than the Nordics and eurozone
By Tomasz Wieladek & Aadish Kumar
June 2023 / INVESTMENT INSIGHTS
Our investment framework is constantly adapting to the challenges of change.
By David J. Eiswert
David J. Eiswert Portfolio Manager, Global Focused Growth Equity Strategy
June 2023 / U.S. GOVERNMENT POLICY
Here's what it could mean for the economy, industry, and policy
Michael Pinkerton Associate Analyst
By Arif Husain, Sébastien Page & Justin Thomson
THEME THREE
Portfolio Manager, Global Impact Credit Strategy
THEME ONE
THEME TWO
We believe high yield bonds offer an attractive risk/reward trade-off in the current...
June 2023 / MIDYEAR MARKET OUTLOOK
Macro risks have risen, but the outlook for Japan appears bright.
By Archibald Ciganer
Archibald Ciganer Regional Portfolio Manager
Waiting for the earnings shoe to drop.
By Randal S. Jenneke
Randal S. Jenneke Head of Australian Equities
June 2023 / WEBINAR
June 2023 / GLOBAL FIXED INCOME
Opportunities to generate value amid volatility
By Michael Della Vedova
Michael Della Vedova Co‑portfolio Manager, Global High Income Bond Strategy
By Ritu Vohora
Ritu Vohora Investment Specialist, Capital Markets
A more broad-based recovery after initial reopening, though some bumpiness is expected.
By Jacqueline Liu
Jacqueline Liu Portfolio Manager, China Growth Opportunities Equity Strategy
June 2023 / GLOBAL EQUITIES
Looking beyond the hype to see opportunities in builders and toolmakers
High yield bonds could offer an attractive risk/reward trade-off
Timothy C. Murray Capital Markets Strategist, Multi-Asset Division
May 2023 / VIDEO
Industrials are sensitive to the business cycle, but supportive government policies...
By Melanie Rizzo
Melanie Rizzo Industrials Analyst, U.S. Equity Division
May 2023 / INVESTMENT INSIGHTS
By Matthew Lawton
Matthew Lawton Portfolio Manager, Global Impact Credit Strategy
We’ll need to see more evidence of a deceleration in services inflation to be confident...
A three-stage recovery is underway.
By Wenli Zheng
Wenli Zheng Portfolio Manager, China Evolution Equity Strategy
But cash squeeze may force the Fed to halt quantitative tightening.
By Adam Marden & Pranay Subedi
As the “x-date” approaches, our portfolio managers and experts are closely monitoring...
Rates offer alpha opportunities, dollar at risk of depreciation.
By Arif Husain, Scott Solomon & Quentin S. Fitzsimmons
Four-part anchoring framework fundamental to debt sustainability
By Samy Muaddi
Samy Muaddi Head of Emerging Markets Fixed Income, Portfolio Manager, EM Bond and EM Corporate Bond
With volatility likely to persist, an active approach remains critical
By Amanda Stitt
Amanda Stitt Portfolio Specialist
May 2023 / FIXED INCOME
We expect a relatively mild U.S. recession, not a steep downturn
By Andrew McCormick
Andrew McCormick Head of Global Fixed Income and CIO
May 2023 / BLOG
Competition between these powers creates risk and opportunity
Michael Pinkerton Washington Associate Analyst, U.S. Equity Division
April 2023 / VIDEO
By Peter J. Bates
Peter J. Bates Portfolio Manager
April 2023 / INVESTMENT INSIGHTS
Pursuing social and environmental impact alongside financial returns
By Harishankar Balkrishna, Matthew Lawton & David L. Rowlett
Calming banking jitters amid high inflation and slowing growth
March 2023 / INVESTMENT INSIGHTS
March 2023 / MARKETS & ECONOMY
Brisk reopening brings quicker consumption response.
By Carolyn Chu & Christopher J. Kushlis
Role for investment industry in creating innovative financing solutions
By Tongai Kunorubwe & Penny Avraam
My views on the economic and market implications of the banking turmoil
Sébastien Page Head of Multi‑Asset and Chief Investment Officer
Five bond strategies to help investors navigate evolving markets.
Heightened liquidity constraints and disruption require deft investing touch
By Matt J. Snowling & David M. DiPietro
Read more about our Strategy Focus on Global Impact Equity
The recent failures of two regional banks stemmed from different causes than the...
By Christopher T. Fortune, Joseph Mlinac & Stephon Jackson
March 2023 / VIDEO
Positive economic news in the near term could mean a more hawkish Fed, which would...
February 2023 / INVESTMENT INSIGHTS
With environmental and social proposals in the spotlight, case-by-case insights were...
Next winter is where the real challenge lies.
By Justin Thomson
Justin Thomson Chief Investment Officer, International Equity
Insights from the Multi-Asset engine room.
Additionality can accelerate and strengthen impact investing.
Fundamental research can reveal opportunities in the asset class.
By Jean-Marc Breaux, Ramon de Castro & Evan Shay
February 2023 / GLOBAL EQUITIES
Disinflationary forces point to a more benign environment.
By Laurence Taylor
Laurence Taylor Portfolio Specialist in the Equity Division
The Russia/Ukraine war and the recent energy supply squeeze have brought into sharp...
By Maria Elena Drew
Maria Elena Drew Director of Research, Responsible Investing
January 2023 / MARKETS & ECONOMY
Reflecting on a year of impact investing and what’s next.
January 2023 / INVESTMENT INSIGHTS
Active approach allows security selection and nimble positioning.
By Kevin Loome & Ashley Wiersma
Uncertainty persists, but yield is back and fundamentals matter.
Our analysis shows the U.S. dollar is at risk of weakening.
In China, change is the only constant.
By Thomas Poullaouec, Robert Secker & Nathan Wang
The European Central Bank may have to cease hiking earlier than planned.
January 2023 / VIDEO
The Fed is determined to fight inflation and yield is back, but socially oriented...
December 2022 / MARKETS & ECONOMY
While manageable near term, notable QT impact likely by mid-2023
By Stephen L. Bartolini, Steve Boothe & Pranay Subedi
December 2022 / VIDEO
Ritu Vohora breaks down the 2023 Global Market Outlook in 2 mins.
December 2022 / INVESTMENT INSIGHTS
An incredible month for global equities but we remain cautious
By Samuel Ruiz
Samuel Ruiz Portfolio Specialist
Easing inflation may slow or pause Fed hikes, but we believe a rate cut is unlikely...
Timothy C. Murray CFA, Capital Markets Strategist
December 2022 / ASSET ALLOCATION VIEWPOINT
Interest rate cut is unlikely if inflation settles above Fed’s target
Timothy C. Murray Capital Markets Strategist, Multi‑Asset Division
December 2022 / MARKET OUTLOOK
Navigating an expected downturn in earnings.
December 2022 / GLOBAL MARKET OUTLOOK
A time to be selectively contrarian
By Andrew McCormick, Sébastien Page & Justin Thomson
With volatility ahead, agility can be a great source of opportunity
December 2022 / INTERNATIONAL EQUITIES
Divergent policy, relative to other major markets, has broad implications.
In the face of challenging headwinds, a careful contrarian approach could offer potential...
“What should be” versus “What is likely to happen”
Wenli Zheng Regional Portfolio Manager
Aggressive rate hikes are slowing economic growth. But a deep downturn across the...
Yields are appealing in select markets and buying opportunities exist, but investors...
We are seeing a shift in the global economy that could shape the investment landscape...
November 2022 / INVESTMENT INSIGHTS
Beyond gender: Diversity through a multidimensional lens.
By Jocelyn Brown
Jocelyn Brown Head of Governance, EMEA and APAC
November 2022 / MULTI-ASSET STRATEGY
For sustained gains, markets need a Fed pivot and positive outlook.
From The Desk - October 2022
October 2022 / INVESTMENT INSIGHTS
The U.S. equity landscape is changing as key characteristics retreat from extremes.
By Josh Nelson
Josh Nelson T. Rowe Price Head of U.S. Equity
Four key factors set to shape the outlook for digital advertising.
By Taymour Tamaddon
Taymour Tamaddon Portfolio Manager, T. Rowe Price US Large Cap Growth Equity Strategy
The post-GFC environment of low rates appears to be over.
By Christopher Faulkner-MacDonagh, Alex Obaza & Blerina Uruçi
Inflationary pressures may be receding, however.
By Nikolaj Schmidt
Nikolaj Schmidt Chief Global Economist
September 2022 / INVESTMENT INSIGHTS
Tobias Mueller sheds light on Europe on his three-year milestone.
By Tobias Mueller
Tobias Mueller Portfolio Manager, T. Rowe Price European Select Strategy
Focus on shoring up key supply chains likely has legs.
A systematic portfolio construction framework to reflect ESG considerations.
September 2022 / VIDEO
Sustainable Investing in Developing Countries
By Samy Muaddi & Benjamin Robins
Latin America’s Swing to the Left
By Aaron Gifford & Benjamin Robins
High inflation and rising rates complicate the analysis
By Megumi Chen, Sébastien Page & Som Priestley
A closer look at key trends in T. Rowe Price’s proxy voting activity over the past...
Steady rise in cost of services clouds inflation outlook.
Alpha potential is still available for those who adapt to the new paradigm
August 2022 / INVESTMENT INSIGHTS
As market dynamics twist and turn, a flexible approach delivers results
Arif Husain CFA, CIO, Head of International Fixed Income, Lead Portfolio Manager, Dynamic Global Bond Strategy
And Identifying Good Opportunities
An early recession should reduce the chance of aggressive rate hikes.
By Kenneth A. Orchard
Kenneth A. Orchard Portfolio Manager, Fixed Income Division
Portfolio Manager, Global Impact Equity Strategy
The sector is in better health than prior to previous downturns.
By Michael Della Vedova & Stephen Marsh
This dynamic part of the global equity market remains significantly neglected.
By Johannes Loefstrand
Johannes Loefstrand Portfolio Manager, T. Rowe Price Frontier Markets Equity Strategy
Attractive stock prices are based on optimistic earnings estimates.
Recent downturn may also offer price appreciation opportunities.
July 2022 / VIDEO
This video highlights net zero insights from our ESG Investing Annual Report, including...
By Véronique Chapplow
Véronique Chapplow Investment Specialist
The clean energy transition should be a long-term tailwind for utility stocks.
By Vineet Khanna
Vineet Khanna Investment Analyst
July 2022 / INVESTMENT INSIGHTS
Headwinds diminishing and valuations now more attractive.
Laurence Taylor Portfolio Specialist, Global Equities
The challenges facing the global economy will not abate soon.
Nikolaj Schmidt Chief International Economist
Spreads are attractive compared with other asset classes.
Fundamentals are strong, and spreads are attractive.
By Stephen Marsh & Michael Della Vedova
July 2022 / ASSET ALLOCATION VIEWPOINT
Despite the recent rout, tech stocks are still not cheap.
July 2022 / EMERGING MARKETS
Inflation and monetary policies are not affecting regions equally
Christopher J. Kushlis Asia Sovereign Analyst, London
How changing markets require investors to think and act differently.
Government stimulus and a robust labor market have resulted in strong consumer balance...
By Pranay Subedi
Pranay Subedi Credit Analyst
April 2022 / QUARTERLY MARKET REVIEW
First Quarter 2022
March 2022 / RETIREMENT
Glide path design should reflect possibility of early retirement.
By Justin Harvey & Adam Langer
February 2022 / RETIREMENT
Savings behavior impacts glide paths more than DC match formulas.
May 2022 / RETIREMENT INSIGHTS
Discipline has brought long‑term rewards for clients.
By T. Rowe Price
T. Rowe Price
September 2021 / MARKETS & ECONOMY
Freedom to set finance and immigration policies may spur growth
By Quentin S. Fitzsimmons & Tomasz Wieladek
August 2021 / RETIREMENT INSIGHTS
We explore the financial attitudes of savers and retirees, as well as racial and...
By Joshua Dietch
Joshua Dietch Head of Retirement Thought Leadership
DB plans as a substitute for a richer DC benefit.
By Justin Harvey, Adam Langer & James Tzitzouris Jr.
April 2022 / RETIREMENT INSIGHTS
Closed and frozen defined benefit plans shape glide path design.
By Kathryn Farrell, Justin Harvey & Adam Langer
Glide path evaluation is not an easy task.
30 June 2021 / U.S. FIXED INCOME
Peaking economic data should contain yields for the near term.
By Stephen L. Bartolini & Mike Sewell
14 June 2021 / GLOBAL FIXED INCOME
Positive tailwinds are providing support, but caution is advised.
11 June 2021 / FIXED INCOME
T. Rowe Price’s LIBOR transition program shares its findings.
1 June 2021 / U.S. FIXED INCOME
We are finding opportunities to add yield despite narrow spreads.
By Lauren T. Wagandt & Matthew Lawton
February 2022 / INVESTMENT INSIGHTS
Unbranded offerings can improve plan investment lineups.
By Som Priestley
Som Priestley Multi-Asset Strategist
February 2022 / RETIREMENT INSIGHTS
In the discussion below, our multi-asset team details the importance of defined benefit...
March 2021 / INVESTMENT INSIGHTS
Higher equity allocations reflect changes in retirement investing.
By Kim DeDominicis, Andrew Jacobs Van Merlen & Wyatt Lee
March 2021 / RETIREMENT INSIGHTS
A better understanding of spending patterns may transform retirement income solutions
By Sudipto Banerjee
Sudipto Banerjee Director of Retirement Thought Leadership
May 2020 / thinking
ESG Reports
April 2020 / Investment Insights
Why the Fed’s policy responses have implications for global financial markets