steen.madsen - Steen's Blog

Executive summary: Global Insight 2026 Outlook

Dec 19, 2025 | The Global Portfolio Advisory Committee

The future is here … and gathering speed. We share key insights from our Global Insight 2026 Outlook, highlighting the forces likely to shape financial markets as well as potential investment opportunities for the year ahead and beyond.

The Fed takes a turn down easy street

Dec 12, 2025 | Thomas Garretson, CFA

Another rate cut from the Federal Reserve this week has taken U.S. interest rates into a new era where we think every rate cut not only means that policy gets easier, but risks becoming too easy, all while the decisions only get harder.

S&P 500 rally: When a rising tide lifts some boats more than others

Dec 05, 2025 | Kelly Bogdanova

The rally in 2025 and throughout the longer bull market cycle has been uneven with the largest of large-cap stocks dominating. Key charts illustrate this phenomenon, and we discuss how to factor this into portfolio strategies.

More but less

Dec 02, 2025 | Jim Allworth

After three consecutive years of strong gains for most equity markets, nothing historically rules out a fourth.

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.