Insights

Every year, the Global Asset Allocation team compiles a list of our favorite books, essays, and articles from our strategists ahead of the holiday season. This year, we focus on writings by practitioners in the world of finance, business, and beyond. While diverse in their backgrounds, one theme sta...

As in the US, Europe now offers compelling opportunities, albeit in different sectors and countries. Multifamily remains resilient amid structurally tight supply, while Industrial continues to cool. The most attractive opportunities are emerging in Office and Retail, where fundamentals are beginning...

Rumors are swirling in Washington, D.C. that the Supreme Court of the United States (SCOTUS) will rule on President Trump’s tariff policies either this week (according to Barron’s) or in early January (according to Treasury Secretary Scott Bessent). A ruling against the tariffs would be a major stri...

Lots of data out today, most of which point to a global economy that is cooling but not (yet) freezing....

Employment Data Point To Dovish Policy Surprises In 2026...

Following this weekend's election, we reiterate an overweight stance across Chilean risk assets relative to EM benchmarks and advise buying local currency government bonds (currency unhedged)....

The US is ripe for a third major political party, but the two-party system will probably prevail in the 2028 election. The macro context will determine whether the US elects a left-wing populist. ...

Weak, narrowly concentrated job growth in fields that pay poorly bodes ill for the economy, but we enter 2026 recommending benchmark allocations because we are wary of the potential for an AI-driven meltup. Investors should bide their time before turning defensive....

2026 will see geopolitical risk move sideways globally as the US pursues a ceasefire in the proxy war with Russia and a tariff truce with China ahead of midterm elections that will produce gridlock....

This year, we once again present our 2026 outlook as a retrospective from the future – a future in which the AI boom turned to bust.Next week, please join me for a Webcast on Wednesday, December 17 at 10:30 AM EST (3:30 PM GMT, 4:30 PM CET) to discuss the economy and financial markets. We will also ...