Asian/European Markets

The United States consumes a large share of its GDP; China, not so much. The result is Yin and Yang. On net, China produces and the US consumes.

The draft of the One Big Beautiful Bill Act (OBBBA) runs more than 1,000 pages. Analysis of the legislation has focused primarily on its impact on the U.S. federal deficit: the Congressional Budget Office estimates that passage would add almost $3 trillion to the national debt over the coming decade.

Bonds hit a headwind in May as rates rose, but year to date, they have helped offset some of the volatility seen in stocks. See Table 2 for bond index returns for May 2025, Q1 2025, and YTD.

Michael Browne, Chief Investment Officer at Martin Currie discusses inflation, energy and the art of the possible.

President Donald Trump’s announcement on Wednesday of a new trade agreement with China is the kind of headline that gives markets a sense of relief. As I overheard this week at Wealth Management’s EDGE conference, which I attended in Boca Raton, Florida, we may have dodged a recession.

Separating the signal from the noise may be the hardest challenge investors face. We’re all surrounded by constantly changing but mostly unimportant information. Of the small part that really is important, we must decide if it affects our investments.

Tariff policy has clouded expectations for the second half of the year, but there are ways to navigate through the fog.

Just one day after Prime Minister Shigeru Ishiba likened Japan’s debt situation to that of Greece, the country faced its weakest demand for 20-year bonds since 2012.

Industrial robotics is no longer a niche topic reserved for factory optimization—it is becoming a key lever in national strategies for productivity, labor substitution and supply chain resilience.

In part one of our new series, AI Alpha, we explored the sweeping potential of artificial intelligence (AI) as a transformative force.

Alex Veroude, Global Head of Fixed Income, believes fixed income investors can prepare for an uncertain journey by recognising trends and diversifying across different assets.

Summer re-runs are popular on TV, but a repeat of last August's "yen-carry" market upheaval isn't likely on the schedule. A shift in positioning by investors is one reason.

Gold plays a distinct role in the global monetary system. Simply put, it’s perceived as money, and its function as a store of value makes it arguably the world’s most popular hedge against inflation.

In the history of technological progress, there's often a critical misreading. We think the leap is in the product—the engine, the chip, the app.

Head of EMEA and Asia Pacific Equities Lucas Klein and Head of Americas Equities Marc Pinto argue that progress on the trade impasse, further monetary easing, pro-growth reforms, and an innovation revolution should all prove supportive to equities over the mid term once the market moves past near-term volatility.

The first half of 2025 has been driven by headlines that have caused volatility in both the stock and bond markets. While tariff negotiations have commanded the most attention, we are now pivoting to the federal budget deficit, which feels like a perpetual headline over the last 15 years.

Integrating volatile and illiquid assets into the ETF structure is something to be avoided, Doubleline CEO and CIO Gundlach said.

A new culture of reform at Japanese companies offers exciting potential for equity investors.

What's the debt ceiling? Learn how the debt ceiling works and how a default on federal debt could impact the U.S. stock market and economy.

To anyone going through a breakup, just remember this lyric from Bernadette Peters: “If I’m patient the break will mend and one fine morning the hurt will end.”

With the world order in flux, investors can look to fortify portfolios by diversifying across global markets and capitalizing on attractive, high quality yields.

While the immediate path for tariffs may drift lower, the U.S. legislative branch is hammering out a tax and spending bill that seems to favor tax cuts over lower spending, reviving worries over the U.S. budget deficit and a growing debt burden that cannot be ignored.

Advisors looking to add or enhance existing gold exposures in their portfolio have a range of strategies to consider within the ETF vehicle.

The global economy is continually evolving due to inflation, interest rates, and geopolitics. How could these and other factors influence the major asset classes over the coming decade?

If we lived in a world where mobile signals were visible, the sky would shimmer like a storm—layers of frequencies rolling over rooftops, crossing oceans and saturating valleys.

Robotics was one of the earliest examples of a disruptive technology. It enjoyed some time in the investment community limelight. But it was rapidly usurped by other innovative technologies, including AI.

Diversification of portfolios using international equities can reduce volatility and enhance risk-adjusted returns, especially given recent geopolitical shifts that decrease correlations between U.S. and international markets. Despite some investor skepticism, and as we discuss below, the benefits of international diversification can be significant and should be considered in investment strategies.

In this video, Chuck Carnevale, Co-Founder of FAST Graphs, aka Mr. Valuation will do a comprehensive analysis of Autoliv Inc (ALV), the world’s largest automotive safety supplier.

The Fear Trade is what most Western investors are familiar with. It’s the flight to safety during times of uncertainty, driven by concerns over inflation, interest rates, geopolitical risk and more.

I spent the last two weeks of May catching up with partners and clients in Malaysia, Singapore, China, and Hong Kong. Following are some reflections on those conversations.

Here’s the blunt truth: Many great investment strategies fail because of poor implementation. Robust capabilities in trading, transition management, overlays and currencies are critical to executing a strategy.

Investors may revisit international exposure in their portfolios amidst reduced market reactions to tariff announcements, uncertain U.S. policy and lagging U.S. stock performance.

For the first time in five months, gold-backed ETFs globally reported modest outflows in May as investors took profits.

Last week’s employment report was an important stabilizer for the markets. After concerning revisions and weak ADP numbers raised recession alarms, Friday’s payrolls print calmed fears on labor market deterioration.

Today we’ll continue our SIC highlight series featuring a relatively new face who is now indispensable, plus some new ones who were crowd favorites.

Research trips are an integral component of our active, fundamental investment process. Our investment teams meet with different companies, attend conferences, and travel to new markets around the world, gaining insights for our clients and a deeper understanding of potential investments.

Rebounding demand from ETF investors and resilient buying from central banks and Asia retail have propelled gold prices to fresh records north of US$3,000/oz. Find out why we believe there is more room to run.

The bill contains several tax-code changes that could affect municipal bonds, although we don't think it reduces the appeal of munis for high-income earners.

Bouts of volatility may continue in the second half of 2025 as bond market investors navigate evolving tariff policy, U.S. government debt, and economic uncertainty.

Gold’s recent surge to $3,500 was quickly followed by a sharp correction. Each tariff update or diplomatic rumor sends markets into a frenzy—rallying stocks, selling gold, or reversing course the next day.

We remain underweight most developed market stocks as US tariff policy is still unclear but are more enthusiastic about emerging market assets.