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Innovative and actionable insights to pursue improved retirement outcomes.

Active Management

Discover how our active management approach can help you navigate market complexities and has delivered more return, more often.

Equity Insights

Access insights from our investment team as they go beyond the numbers to uncover new opportunities around the globe.

Markets & Economy Insights

Stay informed about economic developments and our perspective on market conditions.

Hunt for Yield Insights

Get the latest fixed income insights and in-depth bond market perspectives to make confident investment decisions.

ESG Insights

Explore our insights and learn more about our approach to ESG investing.

Global Markets Weekly Update

Our analysts recap activities across global markets in our weekly report.

This Quarter (Q3 2025) Hide

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 / Monthly Market Playbook

The case for international small-cap stocks

A number of favorable tailwinds are aligning behind international small-cap stocks.

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 / 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 / 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

Comparing T. Rowe Price composites with their benchmarks

Comparing T. Rowe Price composites with their...

July 2025 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints

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

July 2025 / From the Field

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 / 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...

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

By Toby M. Thompson

Toby M. Thompson Portfolio Manager

July 2025 / In the Spotlight

Age, evolving allocation preferences, and the case for personalized sol...

Age, evolving allocation preferences, and the case for personalized solutions

Age, evolving allocation preferences, and...

Personalized strategies can meet the diverse needs of aging investors.

By Sudipto Banerjee & Louisa Schafer

Inflation’s underappreciated comeback

We believe the market is underestimating inflation and longer-term interest rate

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...

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

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

August 2024 / From the Field

How AI is transforming retirement solutions

Generative artificial intelligence can add value for clients, while guardrails help...

By Dennis Elliott

Dennis Elliott Head, Product & Platforms

Previous Quarter (Q2 2025) Hide

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 / From the Field

What is stable value, and how does it work?

Demystifying and explaining the retirement investment option.

By Multiple Authors

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 currencie

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

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 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints

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

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

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 / On the Horizon

Inflation protection and equity diversification to drive asset allocati...

Inflation protection and equity diversification to drive asset allocation

Inflation protection and equity diversification...

Previously unfavored assets are becoming more attractive

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

June 2025 / On the Horizon

Bonds with credit risk may outperform government debt

Bonds with credit risk may outperform government...

Tariffs and German fiscal reform have shifted bond landscape

By Paul Massaro & Kenneth A. Orchard

June 2025 / On the Horizon

Equity markets to broaden further

An expanding opportunity set is expected to occur within the U.S. and overseas

By Josh Nelson & Scott Berg

June 2025 / On the Horizon

Trump’s tariffs will hit the U.S. economy hardest in the near term

Trump's tariffs will hit the U.S. economy hardest in the near term

Trump's tariffs will hit the U.S. economy...

No region will be unaffected in battle of heavyweights

By Blerina Uruçi, Tomasz Wieladek & Christopher J. Kushlis

June 2025 / Ahead of the Curve

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 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 / 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 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints

Fixed Income Insights: Current Investment Landscape

Fixed Income Insights: Current Investment...

Fixed income experts, Ken Orchard and Vincent Chung leverage a broad fixed income...

By Kenneth A. Orchard & Vincent Chung

May 2025 / In the Spotlight

Five must-ask questions about private assets in DC plans

Five must-ask questions about private assets...

Explore private assets’ potential to improve portfolio diversification and retirement...

By Jessica Sclafani & Som Priestley

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

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

Reference Point 2025

Real data and actionable insights—to help you deliver better outcomes

April 2025 / From the Field

Finding fixable and lovable stocks: A study in partnership

Finding fixable and lovable stocks: A study...

How we developed a deeper relationship with an innovative tech firm to benefit clients.

By Vincent Michael DeAugustino & Anna Nussbaum

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

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

Navigating the evolving landscape of target date solutions

Navigating the evolving landscape of target...

Explore the changes that are shaping the target date marketplace

By Andrew Kuhn, Jessica Sclafani & Kathryn Farrell

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

Three reasons to consider T. Rowe Price Global Multi-Sector Bond Strate...

Three reasons to consider T. Rowe Price Global Multi-Sector Bond Strategy

Three reasons to consider T. Rowe Price Global...

Seeks to provide high yield‑like returns with investment‑grade levels of risk.

By Kenneth A. Orchard & Vincent Chung

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 rise of public and private credit opportunities in the evolving mul...

The rise of public and private credit opportunities in the evolving multi-asset...

The rise of public and private credit opportunitie...

Explore diverse credit opportunities in evolving multi-asset investing.

By Ayinde Kazeem & Christopher P. Brown

April 2025 / From the Field

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

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 / Ahead of the Curve

What Makes a Defensive Asset?

With market sentiment on a rollercoaster, discover how to harness safe haven assets...

By Arif Husain, Adam Marden & Sébastien Page

Navigating Through Global Market Turbulence

Tariff policies have been creating uncertainty, impacting global trade dynamics

By Multiple Authors

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

Decoding the impact of tariffs on China

Should President Trump choose to escalate tensions further, China is likely to respond...

What tariffs could mean for your wealth

Donald Trump’s “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

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

Liberation Day: Another Tariff Blizz

Ritu Vohora, Capital Markets Specialist, shares her views on Tariffs as a key wildcard...

By Ritu Vohora

Ritu Vohora Investment Specialist, Capital Markets

April 2025 / In the Loop

Market Update: Shock and Awe

Investors are reeling from the worse-than-expected level of tariffs announced on...

Impact of Trump Reciprocal Tariffs on Asian Markets

Impact of Trump Reciprocal Tariffs on Asian...

Chris Kushlis, Chief Emerging Markets Macro Strategist at T. Rowe Price, shares his...

By Christopher J. Kushlis

Christopher J. Kushlis Asia Sovereign Analyst

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...

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

By Kenneth A. Orchard & Vincent Chung

Q1 2025 Show

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.

March 2025 / Ahead of the Curve

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

March 2025 / From the Field

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

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.

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 / From the Field

SECURE 2.0 Act—cheat sheet

Summary and effective dates of key provisions.

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

2025 Capital Market Assumptions: Five-Year Perspective

2025 Capital Market Assumptions: Five-Year...

In-depth analysis and insights to inform your decision-making.

February 2025 / From the Field

Three ways growing dividends can add value for investors

Three ways growing dividends can add value...

Don’t overlook the long-term appeal of a rising dividend.

By Thomas J. Huber

Thomas J. Huber Portfolio Manager

April 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

Beyond averages: A more robust approach to glide path design

Beyond averages: A more robust approach to...

Key inputs for target date glide path designs should reflect diversity of DC plan...

Optimizing Opportunities: Public Pension Plans Reassess Allocations Ami...

Optimizing Opportunities: Public Pension Plans Reassess Allocations Amid...

Optimizing Opportunities: Public Pension...

By Som Priestley, Christopher Tarui & Ryan Wagner

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

From Credit Risk to Rate Volatility: Navigating 2025’s Fixed Income Lan...

From Credit Risk to Rate Volatility: Navigating 2025’s Fixed Income Landscape

From Credit Risk to Rate Volatility: Navigating...

Amid a transition into the next phase of monetary policy, managing interest rates...

By Kenneth A. Orchard & Vincent Chung

February 2025 / From the Field

How an investment strategy can blend the best of active and passive

How an investment strategy can blend the...

A research-enhanced strategy can help clients get more from their portfolio’s core.

By Tamzin Manning

Tamzin Manning Portfolio Specialist

February 2025 / From the Field

How U.S. immigration changes could impact inflation and the Fed

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 / ASSET ALLOCATION

When Valuation Fails

Investors need a fresh approach to relative valuation signals

By Cesare Buiatti & Sébastien Page

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

Timely Insights from T. Rowe Price Policy Week

“Modus vivendi” emerges at a critical time, while risk remains

“Modus vivendi” emerges at a critical time,...

Policy Week Takeaways

Timely Insights from T. Rowe Price Insurance Asset Management

Timely Insights from T. Rowe Price Insurance...

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...

January 2025 / From the Field

Analyzing margin improvements and risks to sustained high profitability

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 forgotten asset class- US smaller companies

The forgotten asset class: U.S. smaller companies could be poised for a...

The forgotten asset class: U.S. smaller companies...

The outlook for U.S. smaller company stocks looks better than it has for many years.

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 / In the Loop

Market Update: DeepSeek Disruption

DeepSeek's new A.I. model disrupts tech stocks, challenging market assumptions and...

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

Market Update: Trump Day One

Trump's initial actions: tariffs, immigration, energy impacts.

January 2025 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints

Our experts share perspective on market themes and regional trends, plus insights...

January 2025 / From the Field

Looking for income in 2025? These bond solutions could help

Looking for income in 2025? These bond solutions...

Four bond approaches to help meet different investor needs.

By Kenneth A. Orchard

Kenneth A. Orchard Head, International Fixed Income

Building better blends series

Selecting the right active and passive equity and fixed income building blocks.

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

Consensus is totally consensus—a contrarian’s strategic scenarios

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

Building better blends: Part 3 Aligning investment options with fiducia...

Building better blends: Part 3 Aligning investment options with fiduciary...

Building better blends: Part 3 Aligning investment...

Fiduciary responsibilities require careful analysis of the investment options made...

Building better blends: Part 2 Balancing fixed income allocations

Building better blends: Part 2 Balancing...

Selecting the right active and passive fixed income building blocks.

Building better blends: Part 1 Balancing equity allocations

Building better blends: Part 1 Balancing...

Selecting the right active and passive equity building blocks.

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 / On the Horizon

Policies evolve to support growing needs of plans and participants

Policies evolve to support growing needs...

2025 U.S. Retirement Market Outlook

January 2025 / On the Horizon

A new era for emergency savings after SECURE 2.0

A new era for emergency savings after SECURE...

U.S. Retirement Market Outlook

January 2025 / On the Horizon

Retirement income universe expands, plan adoption on the horizon

Retirement income universe expands, plan...

2025 U.S. Retirement Market Outlook

January 2025 / On the Horizon

Evolution of target date solutions and QDIAs

2025 U.S. Retirement Market Outlook

Q4 2024 Show

December 2024 / From the Field

The calm before the storm: The outlook for Treasury yields

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

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

December 2024 / 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

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 / Make Your Plan

Meet the Manager Matthew Lawton, Portfolio Manager, Global Impact Credi...

Meet the Manager, Matthew Lawton

Portfolio Manager, Global Impact Credit Strategy

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 / From the Field

Disciplined investing amid a dynamic U.S. market environment.

Disciplined investing amid a dynamic U.S. market environment

Disciplined investing amid a dynamic U.S....

Looking toward 2025, U.S. equity market returns are likely to be harder earned.

By Justin P. White

Justin P. White Portfolio Manager

November 2024 / From the Field

International small-caps: Unlocking the value in this unloved asset cla...

International small-caps: Unlocking the value in this unloved asset class

International small-caps: Unlocking the value...

Ex-U.S. small-cap stocks appear well-placed to outperform large-cap peers.

By Benjamin Griffiths & Ryan Gemmell

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 / MARKETS & ECONOMY

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 / On the Horizon

High yield debt, financial stocks offer value amid uncertainty

High yield debt, financial stocks offer value...

An optimistic outcome is priced into most assets, leading to some conflicting signals.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

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...

November 2024 / On the Horizon

Radical innovations revealing real prospects in health care

Radical innovations revealing real prospects...

A new generation of treatments are paving the way for a golden age in the sector.

By Nabil Hanano

Nabil Hanano Associate Portfolio Manager

November 2024 / On the Horizon

Weaker growth and lower rates set to open up private markets

Weaker growth and lower rates set to open...

Shifting conditions should create new opportunities in private credit and private...

By David M. DiPietro

David M. DiPietro Head, Private Equity

November 2024 / On the Horizon

Finding income in high yield bonds, bank loans, and emerging markets

Finding income in high yield bonds, bank...

The non-investment-grade sectors of the bond market look the most attractive.

By Kenneth A. Orchard

Kenneth A. Orchard Head, International Fixed Income

November 2024 / On the Horizon

Rate cuts provide opportunities for U.S. small‑caps and financials

Rate cuts provide opportunities for U.S. small-caps and financials

Rate cuts provide opportunities for U.S....

Valuations remain stretched, but the market is broadening.

By Stephon Jackson

Stephon Jackson Head, T. Rowe Price Investment Management

November 2024 / On the Horizon

Value and small‑caps could power international equities

Value and small-caps could power international equities

Value and small-caps could power international...

There are significant structural opportunities at attractive prices.

By Justin Thomson

Justin Thomson Head, Investment Institute and CIO

November 2024 / On the Horizon

U.S. exceptionalism has not run out of steam

The ingredients are there for another year of robust growth.

By Blerina Uruçi

Blerina Uruçi Chief U.S. Economist

November 2024 / On the Horizon

Mapping the path from slowdown to recovery

The world is transitioning to manufacturing-led growth.

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

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

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 / FIXED INCOME

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

Could a 5% 10-year Treasury yield be around...

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

Cash conundrum: Why the Fed’s cut is a game changer

Cash conundrum: Why the Fed’s cut is a game...

Discover how the Fed’s rate cut could impact your investment strategy.

By Alex Obaza

Alex Obaza Portfolio Manager

October 2024 / FIXED INCOME

Looking under the hood at the rise of liability management exercises

Looking under the hood at the rise of liability...

Credit investors must consider potential impacts of liability management exercises

By Adam Trusley

Adam Trusley Credit Analyst

Q3 2024 Show

January 2025 / EQUITY

Higher rates and rising capex support international value stocks

Higher rates and rising capex support internationa...

The post-global financial crisis headwinds of low rates and tepid growth have faded.

October 2024 / RETIREMENT

Drawdown with annuities can balance retirement income and liquidity

Drawdown with annuities can balance retirement...

Plan sponsors are exploring annuities to help recreate a paycheck-like experience...

By Multiple Authors

September 2024 / RETIREMENT

Make it personal: The next chapter for target date solutions

Make it personal: The next chapter for target...

Technology advances now allow personalization that could help address dispersions...

By Sudipto Banerjee & Jessica Sclafani

US election and trade policy: What investors need to know

US election and trade policy: What investors...

Presidential election will shape the pace of deglobalization

September 2024 / RETIREMENT

The success of defined contribution plans and the road ahead

The success of defined contribution plans...

Defined contribution plans have achieved remarkable results, and they can accomplish...

By Sudipto Banerjee

Sudipto Banerjee Global Retirement Strategist

Q2 2024 Show

May 2024 / RETIREMENT

Implementing an in-plan retirement income solution

Implementing an in-plan retirement income...

Insights from plan sponsors and consultants and five key lessons from a case study.

By Jessica Sclafani

Jessica Sclafani Global Retirement Strategist

September 2024 / TARGET DATE INVESTING

How We Design a Blend Solution for Target Date Investors

How We Design a Blend Solution for Target...

Mixing active and passive investments in a target date solution.

By Wyatt Lee, Kim DeDominicis & Andrew Jacobs Van Merlen

October 2023 / TARGET DATE INVESTING

Is Your Target Date Portfolio Diversified Enough?

Is Your Target Date Portfolio Diversified...

Every component in our portfolio design has a purpose for our clients.

By Multiple Authors

September 2024 / RETIREMENT

Planning for Spending Volatility in Retirement

Access to liquidity and a focus on growth could mitigate spending increases.

By Sudipto Banerjee

Sudipto Banerjee Global Retirement Strategist

August 2024 / RETIREMENT

Stretching a Match

Restructuring employer matching contributions could encourage higher employee deferral...

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