Developed Countries
MacroQuant has downgraded equities to underweight, favors a below-benchmark duration stance in fixed-income portfolios, remains bearish on the US dollar, and is still bullish on gold.
Our outlook for Fed policy in 2026.
Employment Data Point To Dovish Policy Surprises In 2026
The Fed is on hold for now, but its 2026 economic projections are far too optimistic. The Fed will ease more next year than it currently anticipates.
We present our five key views for global fixed income markets in 2026. A year that will see the global easing cycle come to an end.
September’s weak consumer spending data challenge the K-shaped recovery narrative and suggest that spending will slow to match already-weak employment growth.
Our Portfolio Allocation Summary for December 2025.
MacroQuant remains tactically overweight equities, favors an above-benchmark duration stance in fixed-income portfolios, remains bearish on the US dollar, and is bullish on gold.
Our key US fixed income views for 2026.