Timely commentary, strategic perspectives and in-depth analysis from our investment teams to help guide your portfolio decisions.
The U.S. economy remains resilient. Our portfolios are modestly long risk, focusing on credit and targeted equity overweights. We prefer ex-U.S. duration and anticipate further dollar weakness in the second half of the year.
Amid strong corporate balance sheets and global fiscal expansion, the U.S. is likely to avoid recession, although growth may slow. We approve Federal Reserve policymakers’ pause, given current uncertainties. We favor non-U.S. exposures, emerging market debt, AT1 securities and securitized credit.
We expect solid profit growth this year and some acceleration into 2026. Our investors are more enthusiastic about markets in Europe and Asia than in the U.S. and broadly favor quality financial and health care stocks.
Factors delivered a strong first quarter, offering investors a diversifying source of returns as uncertainty rose about the outlook for equity market performance and economic growth.
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