Portfolio Insights

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Timely commentary, strategic perspectives and in-depth analysis from our investment teams to help guide your portfolio decisions.

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Long-Term Capital Market Assumptions

Time-tested projections to help build stronger portfolios

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Multi-Asset Solutions Strategy Report

Highlights key developments in markets and economies, and examines the potential investment implications for multi-asset portfolios.

Global Alternatives Outlook

Explore the most promising investment ideas across our global alternatives platform and learn why alternatives are no longer optional—but essential.

Getting real about rates

The post-war era of substantially positive real interest rates may be gone for good.

Global Asset Allocation Views 1Q 2025

Our portfolios reflect a pro-growth outlook and a strong preference for U.S. assets. We continue to overweight equities and credit and are broadly neutral on global duration. Credit spreads are tight but all-in yields remain attractive. Asset markets could be volatile at times in 2025, but we expect investors to buy on any dips.

Global Fixed Income Views 1Q 2025

December’s rate cut met expectations, but revised 2025 projections—amid fiscal policy uncertainties—unsettled markets. Likely robust Q4 GDP, and labor market frailties, make Above and Below Trend Growth equally probable. We favor certain investment grade credits, high yield bonds, bank loans and select emerging market debt.

Global Equity Views 1Q 2025

2025 looks like a good year for profits. Many of our investors favor adding to defensive and higher quality names while remaining cautious about AI stock valuations.

Factor Views 1Q 2025

U.S. equity factors led the market lower in the fourth quarter of 2024, the first decline, in aggregate, since early 2023 as the market was challenged by stock investors’ preference for expensive, low quality stocks. Macro factors performed well.

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Global Asset Allocation Views 1Q 2025

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