Kevin Warsh assumes the role of Fed Chair with growth and inflation trending in opposite directions June 2026 Key Observations Global equities continued to push higher in May, bolstered by strong Q1 corporate earnings and an acceleration in enthusiasm surrounding AI. Emerging markets led the way, on the back of [...]

Disruption from AI paves way for assets outside of U.S. large cap Key Observations Global markets started the year strong and were broadly positive across asset classes in January. Concerns of potential disruption from new AI tools wreaked havoc on select sub-sectors such as software. Areas such as U.S. small [...]

The Discipline Dividend: Capturing Opportunity and Managing Risk in an AI-Driven Market Key Observations Tempered return outlook: Our 2026 Capital Market Assumptions point to a tempered outlook as higher valuations and softer yields reduce return potential. AI exposure already embedded: Artificial intelligence (AI) is already woven deeply into equity markets, [...]

What the recent commotion in markets reveals about the underlying cycle. Key Observations After a brisk rally in October, November saw muted returns across most asset classes. Policy participants have expressed sharply divergent views on future interest rate decisions, leaving investors cautiously optimistic. Leadership rotated toward real assets and commodities, [...]