Last Week at a Glance
Global equities fell last week, with Korea and Taiwan leading the decline as investors backed away from crowded AI momentum trades.
Currency
Should Investors Continue to Underweight the US Dollar Relative to Other Major Currencies?
Yes. We continue to expect the US dollar to weaken relative to other major currencies over the next several years.
Last Quarter at a Glance
Global equities were flat in June but logged exceptional returns in 2Q—the best performance in more than six years.
US Manager Universe Statistics: First Quarter 2026
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Last Month at a Glance
Global equities rose in May, boosted by artificial intelligence (AI) earnings momentum and hopes for an extension of the US-Iran ceasefire.
Does the Iran War Change Our View on the US Dollar?
No, we continue to believe the US dollar faces meaningful downside risks over the next few years and recommend that investors remain underweight the dollar in portfolios.
US Manager Universe Statistics: Fourth Quarter 2025
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Review of Market Performance: Calendar Year 2025
Global economic growth hovered near trend in 2025. The dollar weakened sharply, while global equities and commodities posted strong gains. Bond returns improved as rates and credit spreads eased.
Japanese Election Result Should Boost the Economy and Ultimately the Japanese Yen
Overall, we see the election outcome as positive for the Japanese economy and, by extension, the yen.
VantagePoint: Asian Equities Revisited
While Asia has demonstrated resilience to economic and geopolitical challenges, risks remain, and we expect economic growth and equity beta prospects to moderate as the region faces headwinds from slowing export growth and cooling consumption.