Markets Recon · Asset manager research for allocators
Hundreds of asset managers publish every week. We help you find the one piece worth opening instead of the twenty you could, and show you where managers agree, where they split, and what's driving it.
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The BOJ kept rates unchanged but signalled further tightening as inflation risks persist and underlying inflation remains near target. With the Fed similarly focused on inflation, monetary policy in both countries could remain restrictive. For Japan, wages, price pass-through and US rate expectations remain key consid…
Alphabet lost about $500bn of market value on Thursday after results that fell short of forecasts in advertising. Amazon's investment spending ran ahead of its cash generation over the past year, and Meta priced about $37.5bn of new equity. Central banks gave little sign of a broad easing cycle. The Fed, the ECB and the Bank of Japan held, the Fed with two votes for a hike, and the Bank of Canada raised rates. US growth…
Laura Cooper - Global macro musings
NISA finds that 27% of large U.S. stocks had negative realized beta in the six months to September 30, 2026, versus a 1.3% long-run average, the broadest such reading in its recor…
AI spending is booming, but U.S. growth hasn’t accelerated. Imported hardware can offset GDP gains, and AI capex may crowd out other investment as rates rise.
Our long-term asset class forecasts are forward-looking estimates of total return and risk premia for major asset classes. Read our update for Q4 2026.
Article for the Active Fixed Income Q4 2026 Perspectives highlighting investment opportunities across bond markets.
Earnings are expected to accelerate into 2027, but near-term inflation represents a challenge for central banks. The Macro Multi-Asset Quarterly highlights som…
After a resilient 2025 marked by tariff uncertainty and cooling inflation, the global economy enters 2026 delicately balanced. Economic growth has proven surpr…
The 30th annual edition explores how rising economic nationalism and fiscal activism create both challenges and silver linings for investors. Technology adopti…
GMO's 7-Year Asset Class Forecast as of September 30, 2026.
Our long-term asset class forecasts are forward-looking estimates of total return and risk premia for major asset classes. Read our update for Q3 2026.
Our latest Capital Markets Assumptions point to a familiar but important conclusion: we still see a narrower band of outcomes across asset classes, as centr…
Scott Chronert and Daniel Tobon consider possible outcomes of the U.S. midterm elections, the potential effects on public policy and markets, and why a lot of today's uncertainties around key issues will likely be tomorrow's uncertainties as well.
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