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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Fed rate cut buys U.S. time, but no quick fix to debt

September 18, 2025 |Atul Bhatia, CFA

One clear winner from the Fed’s 25 basis point rate cut was the U.S. Treasury, which can roll over maturing debt at lower costs. Lower rates alone, however, are unlikely to make the country’s fiscal policy sustainable.

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We see a bit of a bubble, but it's probably not what you're thinking

September 15, 2025 |Chris Cherepuschak
As asset prices continue to climb, the word "bubble" is starting to get thrown around more and more. From our point of view, while we definitely do see a particular one forming, it's probably not what you have in mind.....
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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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Executive summary: The biotech revolution and longevity

September 05, 2025 |Frédérique Carrier

There’s more to a long life than simply a long lifespan. The number of years we spend in good health, or healthspan, is key. With biotech spurring promising medical innovations, we look at how it can fit into investment portfolios.

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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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