Flash commentary: Venezuela

Since August 2025, the US has deployed one of the largest forces in the Caribbean and US policy had been shifting from economic sanctions to political pressure, with Chevron's oil license restored and military assets deployed near Venezuela as President Trump sought to manage competing priorities of...

The Week in Markets

Where asset managers are most bullish - and bearish - for 2026

Markets Recon’s latest Priming Portfolios research highlighted a clear rotation toward structural growth and income resilience in 2026.

Based on analysis of 1,900+ asset-class calls from ~250 outlooks, asset managers are most bullish on gold and precious metals, AI, EM local-currency debt, EM equities, Japan equities, and private credit, reflecting demand for hedging, structural growth and yield visibility.

In contrast, the most bearish consensus clusters around the US dollar, long-duration bonds, mega-cap US tech, cash, and long-dated government debt, as valuation risk, duration sensitivity and opportunity costs rise. The message is clear: 2026 positioning favours selectivity over beta.

Bond navigators: Beware the narrative

In a recent meeting Paola Binns was asked if she was still positive about sterling credit compared to government bonds, given that ‘spreads are tight’.

The Colour of Money: Managing Currency Risk in Investing

Karen Watkin, CFA| Portfolio Manager—Multi-Asset SolutionsJulia Keating| Portfolio Analyst—Multi-Asset and Hedge Fund Solutions

ESG’s role in manager research

Our four key considerations when we rate our managers and their role in upholding sustainable investing standards.

Latest Outlooks

Equity outlook: A positive set-up

Bullish equity outlook for 2026: easing monetary policy, strong emerging markets, AI-driven growth—plus the key geopolitical risks to watch.

Q1'2026 Market Outlook | Year of Recalib(e)ration

As we enter 2026, the starting point of the year will be a demanding one. Valuations across major markets are elevated and market leadership has become increasingly narrow. This calls for disciplin...

Venezuela Regime Change: Market Implications and Investment Outlook

The U.S. capture of Nicolás Maduro signals a major geopolitical shift. Explore what this means for oil, debt markets and global investing.

Fixed-Income Outlook 2026: Bedrock and Balance

2025 was a banner year for bonds. We think more of the same is in store for 2026. Fixed income enters 2026 from a position of strength. Returns in 2025 were solid across sectors, supported by de...

Long-Term Capital Market Assumptions

The 30th annual edition explores how rising economic nationalism and fiscal activism create both challenges and silver linings for investors. Technology adoption will provide a near-term boost to p...

Capital Market Assumptions

Why a new economic regime calls for a reassessment of risk and rewards

PNC Healthcare: Capital Markets Update - September 2025

Explore market data and capital markets trends for nonprofit healthcare providers as the economic backdrop and interest rate outlook evolves.

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