Content (55)

  • Emerging Markets Debt- Is It What Your Asset Allocation Needs?

    White papers

    Emerging Markets Debt: Is It What Your Asset Allocation Needs?

    8 July 2025

    Emerging Markets (EM) may be uniquely positioned to help portfolios with income and return potential within a world of many changes. One supportive tailwind for Emerging Markets Debt (EMD) is the fading of U.S. exceptionalism — a period when U.S. economic growth and asset returns attracted enough of the world’s capital to more than compensate for the potential negative effects of large trade and fiscal deficits. Additionally, slower U.S. growth can prompt investors to seek higher yields elsewhere, increasing capital flows into EM. In our opinion, the diversification characteristics of EMD in all its forms, from sovereign, corporate and local, should be considered as a useful tool in portfolio construction.

  • Relative Value & Tactical Allocation Q3

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    Relative Value & Tactical Allocation Q3

    7 July 2025

    MetLife Investment Management expect a more moderate decline in economic activity as the shock from “Liberation Day” tariffs fades and, as policy evolves toward an end state, consumers and businesses begin to behave more normally after initially pulling back sharply in response to the volatility. 

  • The Beige Book Goes into the Red as U.S. Growth Stalls

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    The Beige Book Goes into the Red as U.S. Growth Stalls

    23 June 2025

    We remain cautious about the economic outlook. Consumer spending and the labor market remain stable in aggregate, but both qualitative and quantitative indicators related to business output and business uncertainty give us pause. Indices from the Institute of Supply Management (ISM) show weakening activity with rapidly increasing input ...

  • Q1 2025 Taxable Municipals Market Review and Outlook

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    Q1 2025 Taxable Municipals Market Review and Outlook

    6 June 2025

    Q1 returns in the taxable municipal market were strong—but not for the reasons you might expect. While falling Treasury yields boosted performance, policy-related risks and technical pressures raised questions about where valuations go from here.

  • Data Center Investments- A 360-Degree View

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    Data Center Investments: A 360-Degree View

    3 June 2025

    Investment in data centers has increased dramatically, driven largely by explosive demand from generative artificial intelligence (AI) and the accelerating global reliance on digital infrastructure. As AI technologies advance, the need for larger, more energy-intensive facilities equipped with sophisticated infrastructure, such as high-performance graphics processing units (GPUs), continues to escalate, reshaping energy consumption patterns and influencing broader utilities and infrastructure markets. At the same time, the substantial power requirements and significant capital outlays involved in data center expansion present unique investment risks and opportunities across both public and private credit.

  • Insurance AUM 1200x627-EM Sovereigns

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    EM Sovereigns Amid U.S. Tariff Policy Resiliency Study – May 2025

    22 May 2025

    During periods of external shock like the Global Financial Crisis (2008) or COVID-19 (2020), the macro variables that impact EM sovereigns can change suddenly and dramatically, necessitating a rethink of our credit views. We believe that the recent shift in U.S. policy could be another such shock causing serious ...

  • The US Labor Market Caution or Confidence

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    The U.S. Labor Market: Caution or Confidence?

    16 May 2025

    This month we investigate the details of the labour market for signs of weakness. On balance, the labor market remains quite stable. There are, however, a few points of concern.Youth unemployment is rising rapidly, and the length of time people are unemployed has risen. Restrictive immigration policies may also be contributing to tightening the supply of labor.

  • Short Duration Q1 Recap, Portfolio Actions & Outlook

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    Short Duration Q1 Recap, Portfolio Actions & Outlook

    30 April 2025

    Our quarterly update examines the market turbulence of Q1 and how short duration strategies navigated the challenges—and opportunities—of heightened macro uncertainty.

  • Tariff Impacts and Infrastructure Debt’s Resilience

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    Tariff Impacts and Infrastructure Debt’s Resilience

    29 April 2025

    Infrastructure debt provides investors with access to a defensive asset class with lower correlation to economic cycles than general corporate debt given the essential nature of infrastructure assets. Nevertheless, tariffs will have both direct and indirect effects on certain infrastructure investments. Economic infrastructure assets and projects under construction, where there is exposure to supply chain issues or increased costs, will feel the greatest effect of tariffs. Defensive assets such as contracted-power generation, regulated transmission and utility assets, and availability-based public private partnerships will largely be unaffected by the additional tariffs.

  • Deglobalization. What's Next?

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    Deglobalization. What’s Next?

    24 April 2025

    We believe the Post-World War II, U.S.-dominated world order of globalization is quickly coming to an end. Between the possibilities of diversification, division, and disengagement that we discussed in our piece on globalization several years ago, the Trump Administration appears to be pursuing a disengagement strategy. Everyone— domestic players in the U.S. included—is now working to accommodate a less globally engaged U.S.

  • Q1 2025 Investment Grade Private Credit Review & Outlook

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    Q1 2025 Investment Grade Private Credit Review & Outlook

    31 March 2025

    MetLife Investment Management’s Private Capital platform originated over $3.75B in Q1 2025 across corporate private placements, infrastructure debt and Private Asset Based Finance. The platform continues to benefit from investor appetite for high-quality yield, deal certainty, and structuring flexibility. Despite macro volatility, private credit remains supported by resilient fundamentals and global diversification. MIM’s focus on bilateral and proprietary transactions continues to help clients access differentiated opportunities suited for long-term portfolios.

  • Insurance AUM 1200x627-EM-2025 copy

    White papers

    Q1 2025 Emerging Markets Review and Outlook

    31 March 2025

    Emerging markets have entered 2025 navigating a new phase of geopolitical and economic volatility. With the Trump administration’s trade-first agenda introducing fresh uncertainty—and a Fed now facing the prospect of stagflation—EMD investors are weighing both disruption and opportunity.