The US is running a substantial net trade deficit with the European Union (EU). Europe has a surplus—but with more exports at risk, it also has the weaker position in a potential trade conflict.
A well-planned defensive strategy can position equity portfolios to be resilient in a very harsh market environment.
A raft of reciprocal tariffs between China and the US could bruise China’s export revenues in the short term. But its domestically focused economic engine and shrinking dependency on US trade should minimize fallout in the long run.
The bond market has been extremely volatile the past couple of weeks since the introduction of global tariffs by the US. Bond yields have sold off almost 50 basis points, and today we'd like to examine why did that occur, what's next, and how should investors think about duration in this environment?
Coming off a wild ending to a disappointing first quarter, investors must navigate unsettled capital markets and decipher a wave of incoming policy news.
Stock markets have been rattled by trade war tensions and economic uncertainty driven by US tariff policies. Yet history suggests that equities have usually performed well in the aftermath of peak market volatility.
Emerging-market (EM) stocks might not seem an obvious choice for anxious investors during a trade war. But history suggests that past volatility peaks have created favorable moments to invest in EM stocks.
President Trump’s tariffs bring déjà vu for the euro-area economy: it’s back to slower growth and lower rates.
Global equities faced fresh challenges in the first quarter of 2025 amid growing trade-war concerns and developments in artificial intelligence (AI).
How might the recently announced US trade measures translate into economic reality?
The early days of the Trump administration have brought sweeping tariff announcements. While the situation is fluid, the direction is clear: trade restrictions are likely to increase, with China as a primary target.
As volatility rises, staying invested is a strategic priority for capturing long-term return potential in a broadening market.
Uncertainty is the watchword for the global economy. Dramatic policy shifts—tariffs in particular—by the Trump administration 2.0 have so far surprised financial markets and softened consumer sentiment. But we see a global economy well positioned to absorb potential shocks in the months ahead.
Since mid-January, a new political regime in Washington has shaken the geopolitical landscape and global markets. In this volatile environment, bonds have performed well, resuming their traditional role as ballast against falling stock prices and attracting strong demand from investors.
It’s been a rough start to the year for US equity investors. Yet the volatility hasn’t been too far out of the ordinary in historical context.
Emerging-market (EM) equities are off to a strong start in 2025, up 4.5% through March 14 in US-dollar terms. But investors could be excused for being wary. After all, emerging markets have struggled over the past decade.
Muni issuers are generally sound, so cuts in aid would be felt but dealt with.
European equities have started 2025 on a positive note. Several factors could help support the market overcome challenging conditions.
Banks’ retreat is creating opportunity for investors.
Learn why discounting can harm your reputation as an advisor and discover strategies to build trust and confidence with clients.
Though the new US policy focus is on oil and gas, wider opportunities still beckon.
A holistic approach may help insurance investors navigate an expansive opportunity set.
The AI breakthrough spotlights some of China’s distinctive features that deserve closer attention from investors.
With major US policy change unfolding, flexibility across and within asset classes will be critical.
Measuring the effectiveness of ESG-labeled bonds can be a challenge, particularly with “outcome bonds,” which have specific environmental or social goals but lack standardized assessment criteria.
Healthcare stocks were hurt by volatility from factors that include policy-related uncertainty, which hasn’t faded since the US election.
Our research suggests that healthcare firms with sound pay practices may yield healthier returns.
Efforts to secure supply chains and energy sources are creating powerful and enduring themes for equity investors—even in these turbulent times.
Building a bond portfolio these days isn’t easy. Interest rates have been volatile. Credit spreads are tight. And sweeping change in US fiscal, trade, and regulatory policy is underway. We think securitized assets deserve a closer look.
Is an M&A boom brewing?
Integrating private assets may enhance target-date glide paths, but know your exposures.
In today’s era of automation, some situations demand a more active approach. Municipal bond investing is one.
Impact investors can help devastated communities recover and build resilience.
After the trade war’s opening salvoes, tensions seem set to last for some time.
The evolving high-yield markets make the case for a global, multi-sector approach to generating income.
Technology stocks have been the poster child for growth in recent years. Other sectors deserve a closer look today.
China’s efforts to steer between domestic and international growth challenges in 2025 could be good for bond investors.
Quality has become a popular buzzword in equity investing. But what does it really mean?
In our view, active investors face opportunities to outperform created by looming policy changes and the macro landscape.
Not all companies in emerging markets will be hurt by President Trump’s agenda. Here’s what equity investors should look for.
Four strategies for navigating crosswinds in the municipal bond market.
As growth extends to more regions, we see expanding opportunities across countries and assets.
European equity markets may look vulnerable to fallout from new US policies. But some companies offer investors reasons to cheer.
A look at how the renewable energy opportunity may and may not change.
New policies could disrupt markets, but high starting yields and strong demand for income should provide ballast.
Natural disasters test—but don’t break—municipalities’ resilience.
Engaging up front with four key workstreams may smooth the process of adding a solution.
The journey from niche asset to core allocation looks set to continue.
