The numbers behind U.S. tariffs

September 26, 2025 |Joseph Wu, CFA

Collections from U.S. tariffs are surging. As legal uncertainty looms and costs gradually pass through, balancing resilient corporate fundamentals against policy risks remains crucial for portfolio positioning.

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We look at the potential asset-class implications if the Fed moves too aggressively.

Six rate cuts in search of a reason

September 11, 2025 |Atul Bhatia, CFA

With the Fed poised to lower overnight interest rates next week, we think investors may be disappointed with what lowering rates is likely to accomplish. We look at the potential asset-class implications if the Fed moves too aggressively.

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Will the economy’s 2025 resilience continue?

September 04, 2025 |Joseph Wu, CFA

After outpacing cautious expectations in the first half of the year, the global economy could face new challenges from trade policy uncertainty and inflation over the coming months.

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