Yes. Credit investors should be concerned about rising artificial intelligence (AI)-related debt issuance for several reasons. Credit spreads are near historic lows and are likely to face pressure from surging bond supply, of which AI-related investment is just one driver. Fundamentals look healthy for most so-called “hyperscalers,” but other companies may see a concerning rise […]
March 2026
No, we expect software investing to continue to loom large in private equity as it expands to incorporate the opportunities presented by artificial intelligence (AI) while managers also work rapidly to protect existing investments, which are most at risk. Not long after the Federal Reserve began increasing interest rates in March 2022, ChatGPT was publicly […]
February 2026
In the second episode of Sustainable Investing in Focus, Liqian Ma, Head of Sustainable and Impact Investing Research, and David Gowenlock, Senior Investment Director, Sustainable & Impact Investing, provide an in-depth discussion of the future of sustainable investing. Their conversation explores how established business models are being repurposed to address sustainability challenges. David and Liqian […]
February 2026
No. The proposed policies are unlikely to swiftly resolve the challenges facing US residential real estate. While recent proposals may offer marginal support, they are not significant enough to improve deteriorating housing affordability. Given that most policy measures do not meaningfully address the core issues—limited supply and elevated mortgage rates—we do not expect a significant […]
February 2026
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