Market Insights

Timothy C. Murray Capital Markets Strategist

July 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints

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

June 2022 / EMERGING MARKETS EQUITY

Are the Clouds Set to Clear for Chinese Equities

Embracing uncertainty and inefficiencies to focus on future drivers of growth.

By Wenli Zheng

Wenli Zheng Regional Portfolio Manager

June 2022 / MONTHLY MARKET REVIEW

Global Markets Monthly Update

May 2022

June 2022 / VIDEO

Recession Signals Flashing Yellow

Global economies are weighed down by notable headwinds.

Timothy C. Murray Capital Markets Strategist

June 2022 / OUTLOOK

Capital Market Assumptions

June 2022 / MULTI-ASSET SOLUTIONS

Winning by Not Losing: Building Portfolios for a More Challenging World

Winning by Not Losing: Building Portfolios...

Generating positive returns in tougher conditions requires new thinking.

By Multiple Authors

May 2022 / VIDEO

What a Rough Quarter for Bonds Means for Asset Allocators

What a Rough Quarter for Bonds Means for...

By Sébastien Page & Timothy C. Murray

May 2022 / GLOBAL ECONOMY

No, We Are Not About to Return to 1970s Style Inflation

No, We Are Not About to Return to 1970s Style...

Today’s central banks are willing and able to tackle the problem.

Nikolaj Schmidt Chief International Economist

May 2022 / VIDEO

A Challenging Environment for Stocks and Bonds

A Challenging Environment for Stocks and...

Rate hike expectations presented headwinds for both asset classes.

Timothy C. Murray Capital Markets Strategist

May 2022 / SEARCH FOR YIELD

Not All Currencies Are Made Equal, So Don’t Treat Them as Such

Not All Currencies Are Made Equal, So Don’t...

Selective currency hedging may boost yields and add stability.

By Michael Walsh

Michael Walsh Multi‑Asset Solutions Strategist

April 2022 / ASSET ALLOCATION VIEWPOINT

Parallels to the 1973 Market Shocks May Be Imprecise

Parallels to the 1973 Market Shocks May Be...

Recession in U.S. appears unlikely amid reopening economy.

By Cesare Buiatti & Sébastien Page

April 2022 / VIDEO

Economic Risks Are Rising

High inflation and economic weakness could stifle global economy.

Timothy C. Murray Capital Markets Strategist

April 2022 / MULTI-ASSET SOLUTIONS

Asset Allocation in the Era of High Inflation

Responding to changing growth and inflation dynamics.

By Wenting Shen

Wenting Shen Portfolio Manager, Global Multi‑Asset Team

April 2022 / MULTI-ASSET STRATEGY

Three Harbingers Point to a U.S. Recession

History suggests it may not be imminent, however.

By Multiple Authors

March 2022 / VIDEO

The Market Implications of the Conflict in Ukraine

The Market Implications of the Conflict in...

Central banks face a more difficult task tackling inflation.

By Andrew McCormick

Andrew McCormick Head of Global Fixed Income and CIO

March 2022 / MARKET EVENTS

Investing Globally May Boost Yields as Rates Rise

Investing Globally May Boost Yields as Rates...

Home bias could mean key opportunities are missed.

By Michael Walsh

Michael Walsh Solutions Strategist

March 2022 / MARKET EVENTS

Understanding the Potential for Defaults in Russian Bonds

Understanding the Potential for Defaults...

By Benjamin Robins

Benjamin Robins Emerging Markets Debt Portfolio Specialist

March 2022 / INVESTMENT INSIGHTS

Pension Curve Insider: LDI Solutions March Monthly Recap

Pension Curve Insider: LDI Solutions March...

March 2022 / EMERGING MARKETS

Key Developments to Watch in the Russia Ukraine Crisis

Key Developments to Watch in the Russia Ukraine...

The impact of sanctions and rising commodity prices are in focus.

By Ulle Adamson, Peter Botoucharov & Samy Muaddi

March 2022 / NATURAL RESOURCES

How We Are Navigating Upheaval in Energy Markets

How We Are Navigating Upheaval in Energy...

Long-term fundamentals continue to guide our investment approach.

By Shinwoo Kim

Shinwoo Kim Portfolio Manager, Global Natural Resources Strategy

February 2022 / INVESTMENT INSIGHTS

Pension Curve Insider: LDI Solutions February Monthly Recap

Pension Curve Insider: LDI Solutions February...

February 2022 / MULTI-ASSET SOLUTIONS

Another PULSe Indicator Spike in Q4 2021

But the factor divide continues.

February 2022 / GLOBAL ECONOMY

There Will Be Turbulance

Why this Fed hiking cycle looks different.

Nikolaj Schmidt Chief International Economist

January 2022 / GLOBAL ECONOMY

In With a Whimper, Out With a Bang

The investment story of 2022 will be tactical bear, structural bull.

Nikolaj Schmidt Chief International Economist

January 2022 / INVESTMENT INSIGHTS

Pension Curve Insider: LDI Solutions January Monthly Recap

Pension Curve Insider: LDI Solutions January...

December 2021 / GLOBAL ECONOMY

A Digital U.S. Dollar Will Strengthen the Currency's Global Dominance

A Digital U.S. Dollar Will Strengthen the...

A Fed‑backed CBDC will dwarf those of other countries.

By Tomasz Wieladek & Aadish Kumar

December 2021 / ECONOMICS

The Great Inflation Debate

Have we entered a new era?

By Justin Thomson

Justin Thomson Head of International Equity and CIO

December 2021 / JAPAN EQUITIES

2022 Outlook—Prospects for Japan Look Bright

Highly open market expected to benefit from global economic recovery.

By Archibald Ciganer

Archibald Ciganer Regional Portfolio Manager

December 2021 / GLOBAL EQUITIES

Asia ex-Japan 2022 Market Outlook

Risk/reward looks attractive for Asia ex‑Japan equities.

By Anh Lu

Anh Lu Vice President of T. Rowe Price Group, Inc., and Portfolio Manager, Asia Ex Japan Equity Strategy, Hong Kong

November 2021 / ASSET ALLOCATION VIEWPOINT

Supply Bottlenecks May Be Peaking

Timothy C. Murray Capital Markets Strategist

November 2021 / INVESTMENT INSIGHTS

Pension Curve Insider: LDI Solutions October Monthly Recap

Pension Curve Insider: LDI Solutions October...

November 2021 / GLOBAL ECONOMY

China Remains Compelling Despite Regulatory Upheavals

China Remains Compelling Despite Regulatory...

Understanding the government’s social agenda is key.

By Christopher J. Kushlis & Justin Thomson

October 2021 / ASSET ALLOCATION VIEWPOINT

Maintaining a Cautious Approach

Timothy C. Murray Capital Markets Strategist

October 2021 / U.S. GOVERNMENT POLICY

Legislation Supporting Clean Energy Would Impact Key Sectors

Legislation Supporting Clean Energy Would...

Modernizing the electric grid is key for scaling up renewable power.

By Katie Elizabeth Deal

Katie Elizabeth Deal Investment Analyst

October 2021 / MULTI-ASSET SOLUTIONS

Rising Inflation Risk and How to Address It

Rising Inflation Risk and How to Address...

Whether temporary or not, price rises cannot be ignored.

By Yoram Lustig & Michael Walsh

September 2021 / GLOBAL ECONOMY

Germany’s New Government Is Likely to Rewrite Economic Policy

Tomasz Wieladek T. Rowe Price International Economist

September 2021 / INVESTMENT INSIGHTS

Pension Curve Insider: LDI Solutions August Monthly Recap

Pension Curve Insider: LDI Solutions August...

By Andrew Armstrong & Justin Harvey

September 2021 / MULTI-ASSET SOLUTIONS

Looming Lower Returns Demand Creative Multi‑Asset Response

Looming Lower Returns Demand Creative Multi‑Asset...

Active management and a broad toolkit may be necessary.

By Yoram Lustig, Michael Walsh & Niklas Jeschke

September 2021 / ASSET ALLOCATION VIEWPOINT

Should Rising Inflation Be a Concern?

Timothy C. Murray Capital Markets Strategist

August 2021 / FIXED INCOME

How Digital Currencies Add Policy Potency for Emerging Markets

How Digital Currencies Add Policy Potency...

More monetary policy control as rate decisions have a broader impact.

By Tomasz Wieladek & Aadish Kumar

August 2021 / INVESTMENT INSIGHTS

PULSe Indicator: Sentiment and Economic Uncertainty Rule in Q2

Inflation and central banks dominate markets, outweigh new coronavirus variants.

August 2021 / ASSET ALLOCATION VIEWPOINT

Sticking With Value

Timothy C. Murray Capital Markets Strategist

August 2022 / VIDEO

A Fall in Earnings Estimates Could Worsen Sell-Off

A Fall in Earnings Estimates Could Worsen...

Attractive stock prices are based on optimistic earnings estimates.

Timothy C. Murray Capital Markets Strategist

August 2022 / WEEKLY GLOBAL MARKETS UPDATE

Global Markets Weekly Update

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

July 2022 / GLOBAL ECONOMY

Economic Headwinds Are Proving Stronger Than Expected

Economic Headwinds Are Proving Stronger Than...

The challenges facing the global economy will not abate soon.

Nikolaj Schmidt Chief International Economist

July 2022 / GLOBAL EQUITIES

QM Equity Quarterly Newsletter

Q2 2022

June 2022 / QUARTERLY MARKET REVIEW

Global Markets Quarterly Update

Second Quarter 2022

June 2022 / VIDEO

Absolute Return Perspectives: Rising Rates, Inflation, and Thematic Opport...

Absolute Return Perspectives: Rising Rates, Inflation, and Thematic Opportunitie...

Absolute Return Perspectives: Rising Rates,...

By Richard de los Reyes

Richard de los Reyes Portfolio Manager

June 2022 / JAPAN EQUITIES

In a More Uncertain Environment, Focus on Fundamentals

In a More Uncertain Environment, Focus on...

Maintaining perspective on long-term opportunities.

By Archibald Ciganer

Archibald Ciganer Regional Portfolio Manager

June 2022 / MARKET OUTLOOK

2022 Midyear Market Outlook: Transitioning to a New Paradigm

2022 Midyear Market Outlook: Transitioning...

Adjusting to an uncertain future.

By Arif Husain, Sébastien Page & Justin Thomson

June 2022 / VIDEO

Russia’s Invasion of Ukraine Prompts U.S. Energy Policy Shift

Russia’s Invasion of Ukraine Prompts U.S....

The U.S. natural gas industry may enjoy some emerging policy tailwinds.

By Michael Pinkerton

Michael Pinkerton Associate Analyst

May 2022 / MULTI-ASSET STRATEGY

Meet Richard Coghlan

Portfolio Solutions Manager, Global Multi‑Asset Team & Co‑Manager, T. Rowe Price’s...

By Richard Coghlan

Richard Coghlan Co-Portfolio Manager

May 2022 / MULTI-ASSET SOLUTIONS

PULSe Indicator Spikes Again in Q1 2022

Amid geopolitical and pandemic concerns.

May 2022 / MARKET OUTLOOK

Volatility Spikes May Not Be Good Sell Signals

A case for investors to stay calm in times of market turbulence.

By Nathan Wang & Thomas Poullaouec

May 2022 / ECONOMICS

QM Equity Quarterly Newsletter

Updates From the First Quarter of 2022

May 2022 / VIDEO

A Labor Demand and Supply Imbalance Challenges the Fed

A Labor Demand and Supply Imbalance Challenges...

By Blerina Uruçi

Blerina Uruçi US Economist

April 2022 / GLOBAL ECONOMY

Most Central Banks Have No Choice But to Remain Hawkish

Most Central Banks Have No Choice But to...

Few have the scope to loosen policy if economic conditions worsen.

Nikolaj Schmidt Chief International Economist

April 2022 / SEARCH FOR YIELD

Balancing Yield With Portfolio Stability

Understanding an asset’s growth and defensive qualities is key.

By Michael Walsh

Michael Walsh Multi‑Asset Solutions Strategist

April 2022 / ECONOMICS

The Russia Ukraine War Will Bring Europe to the Brink of Recession

The Russia Ukraine War Will Bring Europe...

Mitigating factors may still prevent it, however.

Tomasz Wieladek T. Rowe Price International Economist

April 2022 / VIDEO

Video Series: Shifting Ground for Investors Amid Fiscal, Monetary and...

Video Series: Shifting Ground for Investors Amid Fiscal, Monetary and Geopolitic...

Video Series: Shifting Ground for Investors...

By Katie Elizabeth Deal & Christopher Dillon

March 2022 / VIDEO

Russia-Ukraine Crisis—Investment Implications Webinar

Russia-Ukraine Crisis—Investment Implications...

By Multiple Authors

March 2022 / VIDEO

How We're Positioned Against Heightened Market Risks

How We're Positioned Against Heightened Market...

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO

March 2022 / VIDEO

Growth Likely to Remain Under Pressure

Timothy C. Murray Capital Markets Strategist

March 2022 / VIDEO

U.S. Fiscal Stimulus: Takeaways for Investors

Timing, scale, and targets of new spending are key considerations.

By Katie Elizabeth Deal

Katie Elizabeth Deal Investment Analyst

March 2022 / ECONOMICS

The Fed Embarks on a Hiking Campaign to Counter Inflation

The Fed Embarks on a Hiking Campaign to Counter...

High commodity prices, geopolitical risks complicate its path.

By Blerina Uruçi

Blerina Uruçi US Economist

March 2022 / MARKET OUTLOOK

Shifting Ground for Investors Amid Fiscal, Monetary and Geopolitical...

Shifting Ground for Investors Amid Fiscal, Monetary and Geopolitical Risks

Shifting Ground for Investors Amid Fiscal,...

Insights Webinar Summary

By Katie Elizabeth Deal & Christopher Dillon

February 2022 / MULTI-ASSET SOLUTIONS

Putting the Fed’s Planned Rate Hikes into Context

Putting the Fed’s Planned Rate Hikes into...

History shows that Fed hikes alone tend not to derail markets.

By Multiple Authors

February 2022 / VIDEO

What Pivot to Higher Rates May Mean for Stocks

Timothy C. Murray Capital Markets Strategist

January 2022 / VIDEO

The Market Implications of Omicron’s Swift Surge

The Market Implications of Omicron’s Swift...

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO

January 2022 / VIDEO

Ten Key Insights From 2021

Timothy C. Murray Capital Markets Strategist

December 2021 / INVESTMENT INSIGHTS

Germany’s Coalition Agreement Should Stimulate Growth and Inflation

Germany’s Coalition Agreement Should Stimulate...

The new government will likely show more flexibility on EU‑wide issues.

Tomasz Wieladek T. Rowe Price International Economist

December 2021 / ASSET ALLOCATION VIEWPOINT

Revisiting Inflation Concerns

Timothy C. Murray Capital Markets Strategist

December 2021 / MULTI-ASSET SOLUTIONS

Three Contrarian Investing Views on China, Stagflation, Supply Chains

Three Contrarian Investing Views on China,...

By Richard de los Reyes

Richard de los Reyes Portfolio Manager

December 2021 / GLOBAL MARKET OUTLOOK

Playbook for a Shifting Economic Landscape

By Sébastien Page, Justin Thomson & Mark J. Vaselkiv

December 2021 / INTERNATIONAL EQUITIES

China Market Outlook 2022

Attractive opportunities amid China’s fast‑changing environment.

By Wenli Zheng

Wenli Zheng Portfolio Manager, China Evolution Equity Portfolio

December 2021 / INVESTMENT INSIGHTS

Pension Curve Insider: LDI Solutions November Monthly Recap

Pension Curve Insider: LDI Solutions November...

November 2021 / MULTI-ASSET SOLUTIONS

Benchmark Aware or Agnostic?

A practical guide on which investment approach may best suit you.

By Thomas Poullaouec

Thomas Poullaouec Head of Multi-Asset Solutions APAC

November 2021 / GLOBAL ECONOMY

The ECB Will Likely Resist Hiking Despite Inflationary Pressure

The ECB Will Likely Resist Hiking Despite...

This would set it on a different path than other central banks.

Tomasz Wieladek International Economist

October 2021 / INVESTMENT INSIGHTS

Pension Curve Insider: LDI Solutions September Monthly Recap

Pension Curve Insider: LDI Solutions September...

October 2021 / MULTI-ASSET SOLUTIONS

PULSe Indicator Rang the Alarm in Q3 2021

PULSe reached its highest level since April 2020.

October 2021 / GLOBAL MARKETS

Growth Delayed but Not Derailed

Opportunities still lie ahead for firms and investors.

By Robert W. Sharps

Robert W. Sharps Chief Executive Officer and President

September 2021 / FIXED INCOME

Controlled Deflation of the China Property Debt Balloon

Controlled Deflation of the China Property...

Beijing’s policy actions in the property sector seem to be containing any potential...

By Sheldon Chan & Anna Zhang

September 2021 / GLOBAL ECONOMY

Demand Stimulus and Inflationary Pressures Loom for Post‑Election Germany

Demand Stimulus and Inflationary Pressures...

The new government will likely prioritize social justice and green policies.

Tomasz Wieladek T. Rowe Price International Economist

September 2021 / GLOBAL ECONOMY

The Return of Volatility May Signal a Buying Opportunity, Not a Bear...

The Return of Volatility May Signal a Buying Opportunity, Not a Bear Market

The Return of Volatility May Signal a Buying...

Why fluctuating asset prices need not cause alarm.