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February 2026 / From the Field

Revisiting asset allocation in an AI world

The AI boom has reshaped the stock market. Active risk management is more important...

By Christina Kellar, Som Priestley & Farris G. Shuggi

January 2026 / From the Field

Why the AI capex cycle is built to persist

The scale of the artificial intelligence (AI) capex cycle can continue for the next...

By David J. Eiswert

David J. Eiswert Portfolio Manager

January 2026 / From the Field

AI Here and Now: Seven Critical Insights from Silicon Valley’s Tech Lea...

AI Here and Now: Seven Critical Insights from Silicon Valley’s Tech Leaders

AI Here and Now: Seven Critical Insights...

Uncover how today’s tech leaders are translating AI potential into measurable market...

By Dominic Rizzo, Anthony Bruce Wang & Jennifer O'Hara Martin

January 2026 / In the Loop

Greenland tensions: New tariff and trade worries for global markets

Greenland tensions: New tariff and trade...

Geopolitical tensions over Greenland, alongside tariff and trade concerns, has reignited...

January 2026 / From the Field

Why the stock market could broaden sustainably beyond U.S. large-cap...

Why the stock market could broaden sustainably beyond U.S. large-cap growth

Why the stock market could broaden sustainably...

The AI arms race could contribute to a sustainable broadening in the equity markets.

By Tedd Alexander, David Corris & Brian Dausch

January 2026 / Ahead of the Curve

Yields poised to increase as global competition for capital endures

Yields poised to increase as global competition...

Explore why rising yields, robust U.S. growth, and volatility could shape fixed income...

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

January 2026 / In the Spotlight

Venezuela: Implications for Markets

Initial impacts on markets from U.S. military intervention in Venezuela

Previous Quarter (Q4 2025) Hide

December 2025 / Monthly Market Playbook

Has the AI boom turned into a bubble?

Some investors fear a repeat of the 1990s internet bubble. But fundamentals are stronger...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

December 2025 / Ahead of the Curve

How China’s capacity cuts could have global macro implications

How China’s capacity cuts could have global...

Disinflationary impulse from Chinese exports looks set to fade.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

November 2025 / From the Field

Global Retirement Savers Study

Executive Summary: Global Retirement Savers Study

Executive Summary: Global Retirement Savers...

Global retirement savers are worried about inflation and express low retirement confidence...

November 2025 / From the Field

HYPErscalers: Is the AI boom dot-com redux?

Artificial intelligence capex spending has reached astonishing levels, but the path...

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

November 2025 / From the Field

China 2026: A new cycle emerges

Chinese equities outperformed other markets in 2025. We expect a stable/improving...

By Wenli Zheng

Wenli Zheng Portfolio Manager

November 2025 / From the Field

AI: Potentially the biggest productivity enhancer since electricity?

AI: Potentially the biggest productivity...

Why AI may drive the most significant productivity surge since electrification.

By Dominic Rizzo

Dominic Rizzo Portfolio Manager

November 2025 / In the Spotlight

Three big reasons why smaller stocks deserve attention

Three big reasons why smaller stocks deserve...

Discover why small- and mid-cap stocks appear poised for a rebound.

By Ritu Vohora

Ritu Vohora Investment Specialist, Capital Markets

November 2025 / From the Field

Opportunities for positive biodiversity and clean water impacts in Braz...

Opportunities for positive biodiversity and clean water impacts in Brazil

Opportunities for positive biodiversity and...

Water infrastructure development in emerging markets: A growing theme in impact credit...

By Mariel Abreu & Ellen O'Doherty

November 2025 / From the Field

U.S. policy under Trump: What investors need to know

U.S. policy under Trump: What investors need...

We explore the policy changes that could matter the most for markets and asset allocation.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

November 2025 / From the Field

The market has left GARP behind. What can change that?

The market has left GARP behind. What can...

GARP investment has been out of favor in the current market regime. What caused that,...

By Josh Nelson & Stephon Jackson

November 2025 / Monthly Market Playbook

Should investors be worried about the U.S. labor market?

Should investors be worried about the U.S....

Slow U.S. employment growth does not appear to be a warning sign of recession.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

October 2025 / From the Field

Establishing industry best practice: A net zero methodology for soverei...

Establishing industry best practice: A net zero methodology for sovereign...

Establishing industry best practice: A net...

Sovereign debt integration within net zero strategies could be set to change.

By Tongai Kunorubwe

Tongai Kunorubwe Director, Research

October 2025 / From the Field

Will China's anti-involution policy succeed?

Will China’s anti‑involution policy succeed?

Beijing has launched a new wave of supply-side reforms.

By Clarence Li

Clarence Li Senior Portfolio Analyst

October 2025 / From the Field

New Integrated Equity Insights Q3 2025: Why quality looks expensive in...

Why quality looks expensive in U.S. large caps and attractive in small...

Why quality looks expensive in U.S. large...

Dislocated valuations signal opportunity in quality U.S. small caps.

By Tedd Alexander, David Corris & Brian Dausch

October 2025 / In the Loop

Behemoth: How U.S. firms became profit giants—and why it may not last

Behemoth: How U.S. firms became profit giants—and...

The returns from tech’s vast capex could struggle to meet expectations.

By Justin Thomson & David Corris

October 2025 / Ahead of the Curve

Higher U.S. long-term yields, steeper curve: Why my thesis still holds

Higher U.S. long-term yields, steeper curve:...

Explore why longer-maturity U.S. Treasury yields could still increase.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

October 2025 / Monthly Market Playbook

How investors can position for U.S. dollar weakness

How investors can position for U.S. dollar...

Investors may want to increase their exposure to non-U.S. assets—especially bonds.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

October 2025 / From the Field

Ten investing lessons from a master of probabilities

Ten investing lessons from a master of probabiliti...

Lessons in decision-making from a poker champion.

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

October 2025 / In the Loop

U.S. Government Shutdown: Update

Discover what the U.S. government shutdown means for markets and the economy.

Q3 2025 Show

September 2025 / From the Field

An Approach to Downside Risk Management for Multi-Asset Portfolios

An approach to downside risk management for multi-asset portfolios

An approach to downside risk management for...

Downside risk management strategies can help multi-asset portfolios deliver on their...

By Richard Coghlan & David Clewell

September 2025 / From the Field

Case for global equities: Enhancing opportunity, diversification, and...

Case for global equities: Enhancing opportunity, diversification, and risk...

Case for global equities: Enhancing opportunity,...

Global equities offer broader opportunities, greater diversification, and reduced...

By Jennifer O'Hara Martin

Jennifer O'Hara Martin Global Equity Portfolio Specialist

September 2025 / In the Loop

What could a U.S.-China trade deal mean for investors?

What could a U.S.-China trade deal mean for...

Explore what matters as U.S.-China economic competition evolves.

By Gilad Fortgang

Gilad Fortgang Associate Analyst

September 2025 / In the Spotlight

Beyond big tech: Why value stocks deserve a closer look

Beyond big tech: Why value stocks deserve...

Explore why global value stocks are gaining momentum as diversification becomes more...

By Ritu Vohora

Ritu Vohora Investment Specialist, Capital Markets

September 2025 / Ahead of the Curve

Impact of high sovereign debt on bond markets

By Multiple Authors

September 2025 / From the Field

The greatest fixed income investment opportunity in decades?

The greatest fixed income investment opportunity...

Significant implications for asset allocations if the 10-year U.S. Treasury yield...

By Jeff Helsing & Som Priestley

September 2025 / In the Loop

Ausbiz: Opportunities in aerospace and rate-sensitive sectors as recess...

Ausbiz: Opportunities in aerospace and rate-sensitive sectors as recession...

Ausbiz: Opportunities in aerospace and rate-sensit...

Equity markets surge, recession risks drop and housing, manufacturing, aerospace...

By Samuel Ruiz

Samuel Ruiz Portfolio Specialist

September 2025 / In the Spotlight

What do retirement investors really want? Quantifying income preference...

What do retirement investors really want? Quantifying income preferences...

What do retirement investors really want?...

Explore data-driven insights for better retirement income solutions.

By Berg Cui & Jessica Sclafani

September 2025 / Monthly Market Playbook

Monthly Market Playbook: Have U.S. stocks become too expensive?

Have U.S. stocks become too expensive?

High U.S. equity valuations are supported by healthy fundamentals and booming investment...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

August 2025 / Ahead of the Curve

Ahead of the Curve: Are structural spread changes concealing value in...

Are structural spread changes concealing value in credit?

Are structural spread changes concealing...

Structural changes in credit spreads may be concealing value in credit.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

August 2025 / From the Field

Q2 2025 earnings recap

By Rahul Ghosh

Rahul Ghosh Portfolio Specialist

August 2025 / From the Field

Drugging the undruggable: How biotech innovation is creating opportunit...

Drugging the undruggable: How biotech innovation is creating opportunities...

Drugging the undruggable: How biotech innovation...

A golden age of drug discovery creates opportunities in small- and mid-cap biotech...

By John Hall

John Hall Investment Analyst

August 2025 / From the Field

Bonds backed by franchise fees or internet bills? The rise of esoteric...

Bonds backed by franchise fees or internet...

Uncover unique opportunities in franchise- and fiber-optic-backed asset-backed securities.

By Walter Peppelman & Evan Shay

August 2025 / From the Field

CryptoFOMO: Why stablecoins are the GENIUS antidote to bungee jump

CryptoFOMO: Why stablecoins are the GENIUS antidote to bungee jumping

CryptoFOMO: Why stablecoins are the GENIUS...

New legislation could bring digital assets into the mainstream.

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

August 2025 / From the Field

A new era of global high yield: Stronger, larger, and more diverse

A new era of global high yield: Stronger,...

An allocation offers investors a potential source of attractive risk-adjusted income.

By Mike Della Vedova, Michael Connelly & Samy Muaddi

August 2025 / In the Loop

Does the “One Big Beautiful Bill” = big beautiful profits?

Does the “One Big Beautiful Bill” = big beautiful...

Using the Kalecki-Levy framework to understand the profit implications.

By Steve Boothe & Thomas Heidenberger

July 2025 / In the Loop

Focus on what matters beyond the tariff deadline

Trade deals, fiscal stimulus, and AI excitement made this tariff deadline different.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

July 2025 / From the Field

How will the boom in U.S. government debt supply affect markets?

How will the boom in U.S. government debt...

U.S. Treasury debt issuance changes will shift market dynamics.

By Adam Marden & Pranay Subedi

July 2025 / From the Field

Active investing is suited to the challenging markets ahead

Active investing is suited to the challenging...

Changing market conditions will provide new risks and opportunities.

By Robert W. Sharps

Robert W. Sharps Chair of the Board, Chief Executive Officer and President

July 2025 / From the Field

How AI’s rise is changing the game for software companies

How AI’s rise is changing the game for software...

The AI revolution is shaking up the software industry. Which companies will get stronger?

By David R. Giroux, Michael J. Signore & Brian Solomon

July 2025 / In the Spotlight

Beyond the glitter: Why gold remains a strategic asset in today's marke...

Beyond the glitter: Why gold remains a strategic asset in today's market

Beyond the glitter: Why gold remains a strategic...

Discover the strategic value of gold exposure in diversified portfolios.

By Ritu Vohora

Ritu Vohora Investment Specialist, Capital Markets

July 2025 / In the Loop

Ausbiz: Investor FOMO, U.S. debt & the resilience in the U.S. economy

Ausbiz: Investor FOMO, U.S. debt & the resilience...

Speculative stock risks emerge in a "two-speed" U.S. market amid fiscal deficits...

By Samuel Ruiz

Samuel Ruiz Portfolio Specialist

July 2025 / From the Field

What’s the outlook for the global energy transition?

What’s the outlook for the global energy...

Taking stock of the energy transition—are we making any progress?

By Maria Elena Drew

Maria Elena Drew Head, Global Sustainability

July 2025 / From the Field

Finding opportunities in private markets

Why we believe late-stage/growth equity is particularly compelling.

By Emma Norchet

Emma Norchet Lead Private Technology Investor

21 July 2025 / From the Field

New Integrated Equity Insights Q2 2025: Are high-quality U.S. large-cap...

Are high-quality U.S. large-cap stocks overpriced?

With historically high quality, expensive large-caps could lag in an internal market...

By Tedd Alexander, David Corris & Brian Dausch

July 2025 / From the Field

Investing in Emerging Markets Debt

Investing in emerging markets debt

There are a number of ways to invest in emerging markets debt.

By Wenting Shen, Nathan Wang & Chester Cheng

July 2025 / In the Loop

125 years of returns: Timeless lessons in investing

125 years of returns: Timeless lessons in...

Short-term anomalies bring risks, but remaining on the sidelines is riskier.

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

July 2025 / In the Loop

Market Update – Tariff threats ramp up ahead of new August 1 deadline

Market update: Tariff threats ramp up ahead of new August 1 deadline

Market update: Tariff threats ramp up ahead...

Forward earnings guidance to provide indications as to the impact of tariffs and...

By Toby M. Thompson

Toby M. Thompson Target Allocation Strategies Lead

July 2025 / Ahead of the Curve

Should we be more worried about U.S. growth or inflation? or neither?

Should we be more worried about U.S. growth or inflation? Or neither?

Should we be more worried about U.S. growth...

Explore U.S. economic trends: growth uncertainty and rising inflation risks

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

July 2025 / From the Field

Gone Private: Allocating to Private Credit in Multi-Asset Income Portfo...

Gone Private: Allocating to Private Credit in Multi-Asset Income Portfolios

Gone Private: Allocating to Private Credit...

Adding private credit to a multi-asset portfolio can enhance yield and diversification

By Richard Coghlan & David Clewell

July 2025 / Monthly Market Playbook

Monthly Market Playbook: Taking a measured approach with high yield bon...

Taking a measured approach with high yield bonds

Taking a measured approach with high yield...

Explore high yield bonds as an attractive alternative to expensive U.S. stocks.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

July 2025 / From the Field

How our sustainable bond framework can drive real impact

How our sustainable bond framework can drive...

Our model helps to evaluate impact bonds and the additionality of the projects they...

By Matthew Lawton & Ellen O'Doherty

July 2025 / From the Field

How the U.S. tax bill could impact the economy and bond markets

How the U.S. tax bill could impact the economy...

Fiscal concerns likely to persist amid a lack of near-term plans to address the deficit.

By Blerina Uruçi

Blerina Uruçi Chief U.S. Economist

Q2 2025 Show

June 2025 / From the Field

Diversified source of income and growth

Global High Yield

By Mike Della Vedova & Joran Laird

June 2025 / From the Field

High yield — the name says it all

Global High Yield

By Mike Della Vedova & Joran Laird

June 2025 / From the Field

Restoring America's nuclear energy capacity—Digging in to potential imp...

Restoring America’s nuclear energy capacity—Digging in to potential impacts...

Restoring America’s nuclear energy capacity—Diggin...

Recent executive orders from the White House call for the quadrupling of U.S. nuclear...

By Rick de los Reyes & Vineet Khanna

June 2025 / In the Loop

Market Update: The Section 899 “revenge tax”

Discover how a newly proposed tax could impact U.S. companies and global markets.

June 2025 / From the Field

CryptoFOMO: Decoding the lexicon of digital currencies

CryptoFOMO: Decoding the lexicon of digital...

A neophyte’s journey to understanding cryptocurrencies (part II).

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

June 2025 / In the Loop

Ausbiz: Market outlook midst geopolitical uncertainties and elevated...

Ausbiz: Market outlook midst geopolitical uncertainties and elevated equity...

Ausbiz: Market outlook midst geopolitical...

Investors urged to stay cautious as high equity valuations persist despite geopolitical...

By Samuel Ruiz

Samuel Ruiz Portfolio Specialist

June 2025 / In the Loop

What happens next in the Israel-Iran conflict: Four potential scenarios

What happens next in the Israel-Iran conflict: Four potential scenarios...

What happens next in the Israel-Iran conflict:...

The conflict is a highly fluid situation with various potential geopolitical outcomes

By Razan Nasser & Peter Botoucharov

June 2025 / From the Field

Policy shifts shed new light on global equity opportunity set

Policy shifts shed new light on global equity...

Policy changes, geopolitical concerns, and potential paradigm shifts will demand...

By David J. Eiswert

David J. Eiswert Portfolio Manager

June 2025 / From the Field

China: Uncovering opportunities amid tariff truce and beyond

China: Uncovering opportunities amid tariff...

With lingering uncertainties from tariffs, we assess their potential impact on the...

By Wenli Zheng

Wenli Zheng Portfolio Manager

June 2025 / From the Field

An anatomy of tariffs: History, theory, and prognosis

An anatomy of tariffs: History, theory, and...

Lessons for navigating an era with higher trade barriers

By Justin Thomson & Tomasz Wieladek

June 2025 / From the Field

Policy risk in U.S. health care: Impacts less than feared despite the...

Policy risk in U.S. health care: Impacts less than feared despite the noise

Policy risk in U.S. health care: Impacts...

With any new administration comes policy risk. For the U.S. health care sector, this...

By Jill Jortner

Jill Jortner Investment Analyst

June 2025 / Monthly Market Playbook

Monthly Market Playbook: Caution: stocks could face speed bumps ahead

Caution: Stocks could face speed bumps ahead

U.S. equities have rallied due to decreased tariff fears. But we remain cautious.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

June 2025 / Ahead of the Curve

Ahead of the curve: U.S. dollar negatives to take precedence in longer...

U.S. dollar negatives to take precedence in longer run

U.S. dollar negatives to take precedence...

Explore the evolving dynamics impacting the U.S. dollar's future.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

May 2025 / From the Field

Safe havens in 2025? It's a complicated relationship

Safe havens in 2025? It's a complicated relationsh...

Explore risk-hedging opportunities in an increasingly complicated market environment.

By Ritu Vohora

Ritu Vohora Investment Specialist, Capital Markets

May 2025 / In the Spotlight

A five-dimensional framework for retirement income needs and solutions

A five-dimensional framework for retirement...

A new tool to help DC plan sponsors evaluate retirement income solutions for their...

By Jessica Sclafani & Berg Cui

May 2025 / From the Field

Partnering for impact and innovation: A closer look at impact outcome...

Partnering for impact and innovation: A closer look at impact outcome bonds

Partnering for impact and innovation: A closer...

Partnering with supranational organizations can play a key role in accessing innovative...

By Matthew Lawton & Ellen O'Doherty

May 2025 / From the Field

Perspectives on securitized credit

Securitized credit markets posted relatively resilient performance in the first quarter...

By Christopher P. Brown, Ramon de Castro & Jean-Marc Breaux

May 2025 / In the Loop

U.S. Economy at a Crossroads: Inflation, Trade Realignment, and the Roa...

U.S. economy at a crossroads: Inflation, trade realignment, and the road...

U.S. economy at a crossroads: Inflation,...

Fiscal stimulus should be supportive, but inflation and trade uncertainties remain...

By Blerina Uruçi

Blerina Uruçi Chief U.S. Economist

May 2025 / On the Horizon

The AI revolution: Reshaping industries and investment landscapes

The AI revolution: Reshaping industries and...

By Eric L. Veiel

Eric L. Veiel Head, Global Investments and CIO

May 2025 / From the Field

Dynamic markets may favor a hybrid of active and passive investing

Dynamic markets may favor a hybrid of active...

An active-enhanced index strategy has the potential to add value in a variety of...

By Tamzin Manning

Tamzin Manning Portfolio Specialist

May 2025 / From the Field

How to effectively manage interest rate risk in today’s world

How to effectively manage interest rate risk...

With volatility likely to persist, an active approach remains critical.

By Amanda Stitt

Amanda Stitt Portfolio Specialist

May 2025 / Monthly Market Playbook

Are U.S. Treasuries still a shelter from recession?

Are U.S. Treasuries still a shelter from...

Tariffs and Fed policy uncertainty have undermined the traditional role of U.S.Treasuries.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

May 2025 / Ahead of the Curve

Ahead of the curve: Tariffs add to a toxic combination for U.S. Treasur...

Tariffs add to a toxic combination for U.S. Treasuries

Tariffs add to a toxic combination for U.S....

Explore the impact of tariffs on inflation and U.S. Treasury yields.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

Ausbiz: What's the end game for Trump's tariffs?

By Thomas Poullaouec

Thomas Poullaouec Head, Multi-Asset Solutions

April 2025 / From the Field

The "Magnificent Seven," equity market concentration, and portfolio str...

The “Magnificent Seven,” equity market concentration, and portfolio strategy

The “Magnificent Seven,” equity market concentrati...

The outook for equity market concentration and how to address it in active portfolios.

By Peter Stournaras

Peter Stournaras Co-Head, Global Equity Portfolio Management

April 2025 / From the Field

New Integrated Equity Insights Q1 2025: Adapting to structural market...

Adapting to structural market changes

Structural market changes require an understanding of risks and adapting old strategies

By Tedd Alexander, David Corris & Brian Dausch

April 2025 / In the Loop

Tariffs create uneven outcomes, but they can also present opportunities

Tariffs create uneven outcomes, but they...

Tariffs create uneven outcomes, but policy changes present opportunities for active...

April 2025 / From the Field

Charting progress: As bond issuance climbs, what's next for the blue...

Charting progress: As bond issuance climbs, what’s next for the blue economy?

Charting progress: As bond issuance climbs,...

While blue bonds are still a relatively nascent type of sustainable debt, the market...

By Willem Visser

Willem Visser Sector Portfolio Manager

April 2025 / From the Field

Five rules for investing in volatile times

What past crises can teach us about investing during market stress

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

April 2025 / From the Field

A closer look at the diversification potential of private assets

A closer look at the diversification potential...

Private assets can enhance multi-asset portfolios. However, careful risk analysis...

By Robert Panariello & Som Priestley

April 2025 / From the Field

The losers and (relative) winners of Trump’s shapeshifting tariff war

The losers and (relative) winners of Trump’s...

The proposed levies will hit hard if imposed after the 90-day pause

April 2025 / In the Loop

What’s behind the U.S. Treasury market’s roller coaster ride?

What’s behind the U.S. Treasury market’s...

Abrupt moves in the wake of the tariff announcement garner significant attention.

By Adam Marden & Pranay Subedi

April 2025 / From the Field

Will we escape the non-U.S. stocks value trap?

Will we escape the non‑U.S. stocks value trap?

Will we escape the non‑U.S. stocks value...

European stimulus could be a game changer for undervalued non-U.S. stocks.

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

Event Summary: Navigating Through Global Market Turbulence

Event Summary: Navigating Through Global...

By Multiple Authors

April 2025 / From the Field

What tariffs could mean for your wealth

The “Liberation Day” announcements have unleashed a maelstrom.

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

April 2025 / In the Loop

Trump’s tariffs: More detail, less certainty

Economic pain eventually could lead to tariff relief, but a return to normal seems...

By Gilad Fortgang

Gilad Fortgang Associate Analyst

April 2025 / Monthly Market Playbook

Tariffs: What investors need to know

Explore the potential effects of expanded tariffs on U.S. and global markets.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

April 2025 / From the Field

The power of a global multi-sector bond solution in today's markets

The power of a global multi-sector bond solution in today’s markets

The power of a global multi-sector bond solution...

The ability to invest in multiple sectors offers potential income and diversification...

By Kenneth A. Orchard & Vincent Chung

Q1 2025 Show

Global Multi‑Sector Bond Strategy

Strategy Focus

By Kenneth A. Orchard

Kenneth A. Orchard Head, International Fixed Income

March 2025 / From the Field

Will President Trump's reshoring policies fuel an industrial accelerati...

Will President Trump’s reshoring policies fuel an industrial acceleration?

Will President Trump’s reshoring policies...

New policy measures could provide the catalyst to address long-term trends.

By Peter J. Bates

Peter J. Bates Portfolio Manager

March 2025 / Ahead of the Curve

Ahead of the Curve: A contrarian scenario comes true on remarkable Germ...

A contrarian scenario comes true on remarkable German fiscal push

A contrarian scenario comes true on remarkable...

Germany’s fiscal expansion reshapes global bond markets.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

Meet the Manager: Iona Dent, Associate Portfolio Manager, Global Growth...

Meet the Manager: Iona Dent, Associate Portfolio...

By Iona Dent

Iona Dent Associate Portfolio Manager

March 2025 / From the Field

CryptoFOMO: Are digital assets becoming a risk‑off trade?

CryptoFOMO: Are digital assets becoming a...

A neophyte’s guide to cryptocurrencies.

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

March 2025 / From the Field

Uncertainty heightens the need for active fixed income management

Uncertainty heightens the need for active...

Explore how active bond management can thrive in the new investing paradigm of higher...

By Christopher Dillon & Brian Weaver

March 2025 / From the Field

In a world of flux, fundamentals (and active stock-picking) matter

In a world of flux, fundamentals (and active stock picking) matter

In a world of flux, fundamentals (and active...

Durable, compound growth companies look best placed to navigate the near-term landscape.

By Justin P. White

Justin P. White Portfolio Manager

March 2025 / From the Field

How will a rising 10-year Treasury yield impact other assets?

How will a rising 10‑year Treasury yield impact other assets?

How will a rising 10‑year Treasury yield...

Floating rate loans appear well-positioned to benefit from rate rises

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

March 2025 / From the Field

AI²: How radical innovations are revolutionizing tech and health care

AI²: How radical innovations are revolutionizing...

Twin developments are transforming the investment landscape.

By Nabil Hanano & Dominic Rizzo

March 2025 / From the Field

Why fixed income is attractive for investors moving out of cash

Why fixed income is attractive for investors...

Elevated bond yields offer an appealing opportunity to lock in income.

By Kenneth A. Orchard & Vincent Chung

March 2025 / From the Field

Where can investors find defensive assets in today’s evolving markets?

Where can investors find defensive assets...

Explore top defensive assets for today's changing market landscape.

By Arif Husain, Sébastien Page & Adam Marden

March 2025 / In the Spotlight

How wildfires highlight the links between marine and terrestrial ecosys...

How wildfires highlight the links between marine and terrestrial ecosystems

How wildfires highlight the links between...

Wildfires’ impacts stretch beyond land to the oceans—posing a threat to the blue...

By Willem Visser & Duncan Scott

March 2025 / Monthly Market Playbook

Have we reached peak U.S. exceptionalism?

Future earnings growth may not support a valuation premium for U.S. over non-U.S....

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

March 2025 / From the Field

"Uneasy equilibrium" creates an opportunity in global fixed income

"Uneasy equilibrium” creates an opportunity in global fixed income

"Uneasy equilibrium” creates an opportunity...

With the U.S. economy in an uneasy equilibrium, global fixed income offers appealing...

By Kenneth A. Orchard & Vincent Chung

March 2025 / From the Field

Perspectives on securitized credit

2024 Q4: Securitized credit market performance remained solid in the fourth quarter...

By Christopher P. Brown, Ramon de Castro & Jean-Marc Breaux

March 2025 / From the Field

Growth or value? Why choose when you can have core?

Growth or value? Why choose when you can...

Making stock selection the main driver of excess returns.

By Peter J. Bates

Peter J. Bates Portfolio Manager

November 2025 / From the Field

U.S. policy under Trump: What investors need to know

U.S. policy under Trump: What investors need...

We explore the policy changes that could matter the most for markets and asset allocation.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

February 2025 / From the Field

The cryptocurrency moment summary

Should asset allocators now consider establishing positions in digital assets?

By Stefan Hubrich

Stefan Hubrich Head, Global Multi-Asset Research

February 2025 / From the Field

It's a smaller world—finding the winners in the new small-cap landscape

It's a smaller world—finding the winners...

The shrinking U.S. stock market poses a challenge for investors

By Matt Mahon

Matt Mahon Portfolio Manager

February 2025 / From the Field

How AI innovations could help solve the U.S. energy problem

How AI innovations could help solve the U.S....

Delivering the energy required to power artificial intelligence.

By Vineet Khanna & Ashley Hogan

February 2025 / From the Field

Trump’s tariffs: More bite than bark?

The view that tariffs would have little long-term impact on asset prices is likely...

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

February 2025 / From the Field

For or against? The year in shareholder resolutions—2024

For or against? The year in shareholder resolution...

Analyzing voting results on shareholder resolutions on environmental, social, and...

By Donna Anderson & Jocelyn Brown

February 2025 / From the Field

Why the return of IPOs matters for growth investors

Why the return of IPOs matters for growth...

More IPOs mean more chances to invest in quality companies when they aren’t well...

By Dante Pearson

Dante Pearson Associate Portfolio Manager

February 2025 / From the Field

Ahead of the Curve: How U.S. immigration changes could impact inflation...

Ahead of the Curve: How U.S. immigration...

Explore how immigration changes may influence inflation and Fed policy.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

February 2025 / From the Field

Bondholder engagement—An important tool for effective stewardship

Bondholder engagement—An important tool for...

We believe bondholder engagements can help provide a valuable opportunity to share...

By Tongai Kunorubwe & Penny Avraam

February 2025 / From the Field

Trump’s tariffs are a wild card for the global economy

Trump’s tariffs are a wild card for the global...

Trade wars do not produce winners.

February 2025 / From the Field

Spotlight on plastic pollution in impact investing

Spotlight on plastic pollution in impact...

By T. Rowe Price

T. Rowe Price

February 2025 / From the Field

How high could the 10-year U.S Treasury yield go?

How high could the 10-year U.S Treasury yield...

U.S. Treasury yields have been climbing despite continued rate cuts from the Federal...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

February 2025 / In the Loop

AI agents and robotics: Key drivers of future tech innovation?

AI agents and robotics: Key drivers of future...

The evolution of AI could boost productivity as firms make progress on autonomous...

By Jennifer O'Hara Martin, Dominic Rizzo & Anthony Bruce Wang

January 2025 / From the Field

Integrated Equity Insights: Analyzing margin improvements and risks to...

Integrated Equity Insights: Analyzing margin...

While companies are investing heavily in infrastructure and artificial intelligence,...

By Peter Stournaras, David Corris & Brian Dausch

January 2025 / From the Field

The cryptocurrency moment: Return considerations for a new asset class

The cryptocurrency moment: Return considerations...

Should asset allocators now consider establishing positions in digital assets?

By Stefan Hubrich

Stefan Hubrich Head, Global Multi-Asset Research

January 2025 / From the Field

What macro data does (and does not) tell us about earnings

What macro data does (and does not) tell...

Why realized earnings can differ from macro-implied earnings.

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

January 2025 / From the Field

Highlights from T. Rowe Price’s annual technology tour

Highlights from T. Rowe Price’s annual technology...

T. Rowe Price investment professionals met with U.S. technology companies in Silicon...

January 2025 / From the Field

Three important insights from 2024

Three investment trends from 2024 could continue to influence capital market behavior...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

January 2025 / From the Field

Ahead of the Curve: Consensus is totally consensus—a contrarian’s strat...

Ahead of the Curve: Consensus is totally consensus—a contrarian’s strategic...

Ahead of the Curve: Consensus is totally...

Discover contrarian strategies that active fixed income managers can apply.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

January 2025 / From the Field

How investors are tracking progress on Japan’s efforts to unwind cross-...

How investors are tracking progress on Japan’s efforts to unwind cross-sharehold...

How investors are tracking progress on Japan’s...

In our view, Japan is becoming increasingly attractive to institutional investors...

By Jocelyn Brown & Hiroshi Watanabe

January 2025 / From the Field

Looking for durable, needle-moving growth in the AI tech stack

Looking for durable, needle-moving growth...

AI will be disruptive. Growth investors should focus on what creates value over the...

By Paul Greene

Paul Greene Portfolio Manager

Q4 2024 Show

December 2024 / From the Field

Ahead of the Curve: The calm before the storm: The outlook for Treasury...

Ahead of the Curve: The calm before the storm:...

Expect higher Treasury yields as fiscal policies evolve.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

December 2024 / From the Field

A deeper look at flexible credit strategies and the critical role of...

A deeper look at flexible credit strategies and the critical role of manager...

A deeper look at flexible credit strategies...

Multi-asset credit strategies leverage flexibility to different degrees. Learn how...

By Camila Henao Arbelaez, Som Priestley & Christopher Tarui

Meet the Manager, Michael Davis

Head of Global Retirement Strategy

By Michael Davis

Michael Davis Head of Global Retirement Strategy

December 2024 / From the Field

Do high margins justify high valuations?

Sustainable high profit margins justify high valuations for growth companies.

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

December 2024 / From the Field

China’s policy pivot marks a turning point in the economic cycle

China’s policy pivot marks a turning point...

A policy pivot from risk control to growth support suggests a more favorable environment...

By Wenli Zheng

Wenli Zheng Portfolio Manager

Ausbiz: US has "nailed the soft landing."

Ausbiz: U.S. has "nailed the soft landing."

By Samuel Ruiz

Samuel Ruiz Portfolio Specialist

Meet The Manager: Matthew Lawton, Portfolio Manager, Global Impact Cred...

Meet The Manager: Matthew Lawton, Portfolio Manager, Global Impact Credit...

Meet The Manager: Matthew Lawton, Portfolio...

By Matthew Lawton

Matthew Lawton Head, Impact Fixed Income

December 2024 / From the Field

What will a second Trump presidency mean for markets?

What will a second Trump presidency mean...

Markets appear optimistic about another Trump presidency. But inflation could spoil...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

November 2024 / From the Field

Increased climate oversight in Europe: A competitive challenge for bank...

Increased climate oversight in Europe: A competitive challenge for banks

Increased climate oversight in Europe: A...

European banks face tougher climate regulations compared with U.S. banks, impacting...

By Joseph Baldwin

Joseph Baldwin Associate Analyst

November 2024 / From the Field

Perspectives on securitized credit

Securitized credit market performance remained solid in the third quarter amid heavy...

By Christopher P. Brown, Ramon de Castro & Jean-Marc Breaux

November 2024 / From the Field

Unlocking opportunities: Market broadening and a new chapter for emergi...

Unlocking opportunities: Market broadening and a new chapter for emerging...

Unlocking opportunities: Market broadening...

How broadening equity returns and reemergence of EMs require a different mindset.

By Scott Berg

Scott Berg Portfolio Manager

November 2024 / On the Horizon

AI’s “easy money” era is over, but an abundance of opportunities remain

AI’s “easy money” era is over, but an abundance...

Artificial intelligence is set to be one of the biggest productivity enhancers for...

By Dominic Rizzo

Dominic Rizzo Portfolio Manager

The outlook for international equities amid the shifting market environ...

The outlook for international equities amid the shifting market environment

The outlook for international equities amid...

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

October 2024 / From the Field

After a number of false dawns, has China turned the corner?

After a number of false dawns, has China...

Robert Secker shares his perspectives on China.

By Robert Secker

Robert Secker Portfolio Specialist

November 2024 / From the Field

Will Fed rate cuts translate into a strong U.S. economy?

Will Fed rate cuts translate into a strong...

Investors may need to temper their expectations for the Fed to boost U.S. growth...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

November 2024 / From the Field

Why it’s time to consider moving out of cash and into fixed income

Why it’s time to consider moving out of cash...

Income and growth attributes support the case for redeploying cash into bond markets.

By Kenneth A. Orchard

Kenneth A. Orchard Head, International Fixed Income

November 2024 / In the Loop

What Trump’s win means for policy, the economy, and markets

What Trump’s win means for policy, the economy,...

Extending tax cuts and an assertive approach on trade policy likely to be areas of...

By Gilad Fortgang, Blerina Uruçi & Timothy C. Murray

November 2024 / From the Field

What is driving gold prices to all-time record highs?

What is driving gold prices to all-time record...

A number of supportive tailwinds suggest a continuing positive outlook

By Rick de los Reyes

Rick de los Reyes Co-Portfolio Manager

October 2024 / From the Field

Can you trust recession forecasts?

Special Topic: Can you trust recession forecasts?

Three special factors may help the U.S. economy avoid a recession.

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

October 2024 / From the Field

Fed’s focus on jobs is leading to bond market normalization

Fed’s focus on jobs is leading to bond market...

There are signs that the negative correlation between Treasuries and risk assets...

October 2024 / In the Loop

Three policy developments to watch after the U.S. election

Three policy developments to watch after U.S. election

Three policy developments to watch after...

The postelection shift from campaigning to governing can create uncertainty for markets.

By Gilad Fortgang

Gilad Fortgang Associate Analyst

October 2024 / From the Field

Could a 5% 10-year Treasury yield be around the corner?

Ahead of the Curve: Could a 5% 10-year Treasury yield be around the corner?

Ahead of the Curve: Could a 5% 10-year Treasury...

Higher Treasury yields expected due to fiscal spending and Fed quantitative tightening.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

October 2024 / From the Field

Key considerations for global equities beyond the U.S. election

Key considerations for global equities beyond...

Powerful factors provide a relatively positive backdrop for equity markets in 2025.

By David J. Eiswert

David J. Eiswert Portfolio Manager

October 2024 / From the Field

Friendshoring is reconfiguring global trade

Opportunities arise for the West’s allies to plug supply deficits.

By Roy Adkins, Ivan Morozov & Elliot Shue

October 2024 / In the Loop

U.S. Election: What's at stake for M&A and antitrust policy?

U.S. Election: What's at stake for M&A and...

Next president to decide if tough antitrust policy continues.

September 2024 / MARKETS & ECONOMY

Three key themes to watch out for in emerging markets

Three key themes to watch out for in emerging...

Economic growth resiliency to be tested, while new countries could start cutting...

September 2024 / FIXED INCOME

AI and fixed income: Booming demand for data center ABS and CMBS

AI and fixed income: Booming demand for data...

Artificial intelligence drives demand for data center ABS and CMBS investments.

By David Xu & Adam Haya

September 2024 / From the Field

Are we partying like it’s 1999 again?

Are we partying like it's 1999 again?

AI versus Dotcom: There are some similarities, yet also key differences.

By Rahul Ghosh

Rahul Ghosh Portfolio Specialist

September 2024 / ESG

2024 Aggregate Proxy Voting Summary

Examining key trends in T. Rowe Price Associates, Inc.’s proxy voting activity over...

By Donna Anderson & Jocelyn Brown

September 2024 / FIXED INCOME

How AI’s impact is reaching into areas that might surprise you

How AI’s impact is reaching into areas that...

Discover how rising AI energy demands are reshaping independent power producer credit...

By David Yatzeck

David Yatzeck Associate Portfolio Manager

September 2024 / From the Field

Cutting cycles and learning to love bonds again

Cutting cycles and learning to love bonds...

History provides some clues about which asset classes are likely to outperform

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

September 2024 / MARKETS & ECONOMY

How the U.S. election could impact the financials sector

How the U.S. election could impact the financials...

Next president will determine whether financial regulators will mount up or stand...

By Gilad Fortgang

Gilad Fortgang Associate Analyst

September 2024 / MARKETS & ECONOMY

How healthy is the U.S. labour market?

The Federal Reserve appears ready to cut rates. Job growth will be key for how stocks...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

September 2024 / EQUITY

Ausbiz: The emerging markets to benefit from U.S. rate cuts

Ausbiz: The emerging markets to benefit from...

By Samuel Ruiz

Samuel Ruiz Portfolio Specialist

6 September 2024 / In the Spotlight

The power of additionality: Blue bonds could boost sustainability

The power of additionality: Blue bonds could...

Blue bonds could boost sustainability efforts in emerging markets

August 2024 / FIXED INCOME

Ahead of the Curve: The San Andreas fault of finance shakes the markets

Ahead of the Curve: The San Andreas fault...

Monetary tightening in Japan is rearranging global capital flows.

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO

August 2024 / ESG

How say-on-pay voting is shaping trends in executive compensation

How say-on-pay voting is shaping trends in...

Some 15+ years after the introduction of say-on-pay voting, we assess its impact...

By Donna Anderson & Jocelyn Brown

August 2024 / ESG

Linking corporate profits with natural capital in the Amazon rainforest

Linking corporate profits with natural capital...

Linking corporate profits with natural capital in the Amazon rainforest

By Maria Elena Drew & Iona Walker

August 2024 / ESG

Could GLP-1s help rebalance the food trilemma?

Anti-obesity medications could play a key role in balancing the food trilemma

By Maria Elena Drew & Daniel Ryan

August 2024 / MULTI-ASSET

Will government debt boil the frog?

How much should investors worry about the ballooning U.S. government debt?

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

August 2024 / MARKETS & ECONOMY

U.S. election and trade policy: What investors need to know

U.S. election and trade policy: What investors...

Presidential election will shape the pace of deglobalization.

By Gilad Fortgang

Gilad Fortgang Associate Analyst

August 2024 / EQUITY

Are U.S. stocks too expensive?

Can levels of profitability and efficiency of U.S. tech companies be sustained?

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

August 2024 / STRATEGY SPOTLIGHT

Growing government debt has raised concerns. Should it?

Growing government debt has raised concerns....

We believe governments have time and options to address historically high debt-to-gross...

By Thomas Kasanin & Ivan Morozov

August 2024 / FIXED INCOME

Perspectives on securitized credit

Although the rally lost some momentum in Q2, securitized credit markets still performed...

By Christopher P. Brown, Ramon de Castro & Jean-Marc Breaux

August 2024 / MARKETS & ECONOMY

Why U.S. fiscal policy will matter even more after the election

Why U.S. fiscal policy will matter even more...

The next U.S. president faces a significant fiscal cliff in his or her first 12 months...

By Gilad Fortgang

Gilad Fortgang Associate Analyst

August 2024 / MARKETS & ECONOMY

Policy matters: U.S. election could impact renewables and electric vehi...

Policy matters: U.S. election could impact renewables and electric vehicles

Policy matters: U.S. election could impact...

The outcome of the presidential election could have important implications for U.S....

By Gilad Fortgang

Gilad Fortgang Associate Analyst

August 2024 / MULTI-ASSET

How do U.S. elections affect stock market performance?

How do U.S. elections affect stock market...

It’s the economy that matters for U.S. presidential elections and stocks.

By Thomas Poullaouec & Nathan Wang

August 2024 / MULTI-ASSET

The Psychology of Leadership in Investment Management

The Psychology of Leadership in Investment...

Five ways to become an effective leader in money management

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

August 2024 / EQUITY

Assessing the potential impacts on U.S. health care in an election year

Assessing the potential impacts on U.S. health...

The potential impact and implications for U.S. health care could differ greatly depending...

By Jill Jortner

Jill Jortner Investment Analyst

August 2024 / MULTI-ASSET

Manic market not a reason for investors to panic

Manic market not a reason for investors to...

Recent market volatility appears to reflect extreme risk-on sentiment and positioning

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

July 2024 / On the Horizon

Is now the time to consider an allocation to government bonds?

Is now the time to consider an allocation...

Attractive yields and expected return of diversification benefits are supportive

By Amanda Stitt

Amanda Stitt Portfolio Specialist

July 2024 / EQUITY

Can GLP-1s and the medtech industry find a peaceful coexistence?

Can GLP-1s and the medtech industry find...

The success of GLP-1s in reducing weight has led some to predict industry-disruptive...

By Taymour Tamaddon

Taymour Tamaddon Co-Portfolio Manager

July 2024 / EQUITY

Integrated Equity Insights: Measuring equity market sensitivity to inte...

Integrated Equity Insights: Measuring equity market sensitivity to interest...

Integrated Equity Insights: Measuring equity...

Measuring Equity Market Sensitivity to Interest Rate Changes

By Peter Stournaras, David Corris & Brian Dausch

July 2024 / MULTI-ASSET

Special Topic: Can the Fed cut rates with financial conditions this loo...

Special Topic: Can the Fed cut rates with financial conditions this loose?...

Special Topic: Can the Fed cut rates with...

The Fed appears ready to cut interest rates despite loose financial conditions.

By Sébastien Page

Sébastien Page Head, Global Multi-Asset and CIO

July 2024 / EQUITY

Artificial intelligence, health care, and energy transition: Three area...

Artificial intelligence, health care, and energy transition: Three areas...

Artificial intelligence, health care, and...

How innovations in artificial intelligence, health care, and the energy transition...

By Hari Balkrishna

Hari Balkrishna Portfolio Manager

July 2024 / MULTI-ASSET

Could the Volatility Index (VIX) be broken?

The VIX has recently displayed a more subdued reaction to market sell-offs than expected....

By Rory Boath

Rory Boath Lead Analyst

July 2024 / EQUITY

Finding the key to unlocking a US$200 billion opportunity

Finding the key to unlocking a US$200 billion...

Company research tour: Eli Lilly

By Nabil Hanano & Jeffrey Holford

July 2024 / MULTI-ASSET

The inflation roller coaster

Diverging trends in goods and services prices complicate the inflation outlook

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

July 2024 / FIXED INCOME

Ahead of the Curve - “Shadow banking system” creates a trickier path...

Ahead of the Curve - “Shadow banking system” creates a trickier path for...

Ahead of the Curve - “Shadow banking system”...

Rise in nonbank lending drives banks to shift risk exposure

By Arif Husain

Arif Husain Head, Global Fixed Income and CIO