Sunday’s decisive electoral victory for the Liberal Democratic Party (LDP) in Japan’s Lower House elections led to a more than 2% rally in Japanese equities today, driven by expectations of fiscal stimulus. Meanwhile, Japanese government bonds (JGBs) and the Japanese yen (JPY) remained largely unchanged, as Prime Minister Sanae Takaichi reaffirmed a commitment to support […]
February 2026
Two years ago, we explored the shifting landscape of Asian markets amid geopolitical tensions and evolving global supply chains. Since then, we have continued to revisit our original themes and test our assumptions with input from colleagues and asset managers based in the region. As we reflect on how our outlook has evolved over the […]
January 2026
In the first episode of Sustainable Investing in Focus, Liqian Ma, Head of Sustainable and Impact Investing Research, and Annachiara Marcandalli, Global Head of SII Solutions, provide an in-depth discussion of the future of sustainable investing. Their conversation covers the evolving regulatory landscape, the ongoing challenges and opportunities presented by climate change, and the contrasting […]
January 2026
Yes. The range of possible outcomes for the US economy has widened, with greater chances of both positive and negative tail events. US real GDP has grown by approximately 2.5% per annum over the last ten years, and our expectation is that US growth this year will be moderately below that trend, which is broadly […]
January 2026
The US military operation to capture Venezuelan President Nicolás Maduro on January 3 underscores the Trump administration’s increasingly interventionist foreign policy and pursuit of US interests abroad. Venezuela’s strategic importance is clear: it holds the world’s largest proven oil reserves, sits near key shipping routes, and remains central to US concerns about illicit drug exports. […]
January 2026
This outlook provides our perspective on the global economic environment and presents 15 key views across asset classes for 2026. These insights are designed to inform strategic discussions and guide portfolio decision making. Given the diversity of investor objectives and constraints—regarding risk tolerance, investment horizon, liquidity needs, currency exposure, and tax considerations, for example—each view […]
December 2025
Many investors have seen the share of their portfolios invested in equities—both public and private—increase over the past decade. For investors whose equity allocations are at elevated levels, 2026 presents a timely opportunity to reassess policy allocations and embrace greater diversification.
December 2025
Investors should maintain exposure to high-quality sovereigns and avoid duration bets in 2026 by TJ Scavone Yields on most major developed market (DM) sovereign bonds reached a multi-year high in 2023 and have since held just below those highs, trading in a relatively narrow range. We expect this pattern to persist into 2026, supported by […]
December 2025