Latest White Papers – Page 29
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White papersIn Choppy Waters, Gold Remains a Firm Anchor
The sudden threat of U.S. tariffs on gold bars took markets by surprise—and reaffirmed our enduring investment case for gold.
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White papersConstructing the Future: Building Resilient Portfolios With Infrastructure
Private infrastructure stands out in an uncertain world.
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White papersWhy US Dollar-Based Bond Investors Should Look to Europe
As investors re-evaluate their allocations to US assets, we think they should consider euro-denominated bonds.
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White papersThe Red Thread for alternatives – Edition July/August 2025: Our monthly insights into alternatives
The trade situation in the US has developed, with more trade deals being negotiated. The agreement between the US and the EU imposes a 15% tariff on most European imports to the US, which is lower than the 20% originally proposed on ‘liberation day’ in April. Moreover, the US economy has held up well so far, showing strong growth in 2Q25, more than reversing the decline in 1Q25, which had been driven by a jump in imports ahead of tariffs.
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White papersA 20,000-Foot Perspective: Can Bonds and Equities Both be Right?
The combination of stagflation concerns from macro data and robust corporate earnings in the last week have helped bolster the case for a striking gap between fixed income and equity premia persisting, highlighting the complex and finely balanced growth outlook.
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White papersCLOs in focus: Opportunity amid uncertainty
Himani Trivedi, Head of Structured Credit at Nuveen, shares her thoughts on how CLO markets are faring amid market volatility from Trump’s tariff policy and highlights how experienced managers can find value across the CLO capital structure.
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White papersTariffs take the headlines, clarity wins the war
Markets responded cautiously to the recent EU-U.S. trade deal. While the 15% tariff on European exports appears to favour the U.S. in the near term, we believe the removal of trade uncertainty outweighs the tariff impact and marginally improves the outlook for European growth and investment. For global investors, the agreement reduces geopolitical tail risks, offers clarity for key sectors and sets the stage for more stable economic conditions in the euro area. This is particularly relevant in a period where policy divergence and fiscal execution remain in focus.
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White papersWhy investors are turning to emerging market equities amid US perma-volatility
Amid shifts in US policy, emerging markets from South Africa to South Korea are garnering increased investor interest. Explore how advantageous currency trends and governance reforms are presenting compelling avenues for those looking to diversify beyond US-focused strategies.
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White papersFitting the Puzzle Pieces Together
A pivotal week for economic data, earnings, trade and tariffs has provided support for our constructive medium-term view on the fundamentals of risk markets, although the second half of 2025 will pose challenges with some anticipated softening in the economy and lingering uncertainties around inflation, policy and geopolitical risk.
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White papersMarket Update second quarter 2025
The Dutch economy continues to grow, but the pace is slowing. In the second quarter of 2025, economic growth amounted to 1.2%, keeping the Netherlands well ahead of the eurozone average. Nevertheless, geopolitical tensions and declining confidence are weighing on market sentiment.
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White papersIn Conversation – Unlocking opportunities in private equity
Despite a challenging market, private equity still has much to offer – especially to investors with access to the most compelling opportunities. Here, our private equity experts explore how private equity and venture capital markets are evolving in Europe and highlight the key investment trends ahead.
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White papersRethinking emerging market debt: A changing risk landscape
Recent turbulence emanating from the US has demonstrated a change in attitudes. Despite evident volatility, the dollar weakened, contrary to what would typically be expected in times of stress. The perception of risk between emerging markets and developed markets are no longer black and white. So, are investors now rethinking emerging markets?
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White papersTaxable municipal bonds: sunny side of the street
Market conditions present a compelling entry point for taxable municipal bonds. Yields remain historically attractive, driven by heavy issuance and federal policy uncertainty, while a steepening yield curve offers opportunistic duration extension. Looking ahead, reduced summer issuance, combined with strong reinvestment demand and robust fundamentals, should create favourable conditions, potentially offering a sunnier disposition heading into fall.
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White papersDecoding Key Signals in the Relative Prices of Precious Metals
We believe the interplay among the prices of precious metals has important implications for constructing resilient, full-cycle commodity portfolios.
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White papersIs It Time to Revisit Emerging Market Equities?
EM equities have faced significant headwinds over the past decade, but recent developments suggest a turning point may be in progress. So far, 2025 is proving to be promising, as EM equities have delivered double-digit absolute returns and have outperformed developed market equities.
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White papersMoment of clarity: August macro and asset class views
There’s a well-worn investing cliché that “markets hate uncertainty.” While often repeated, it’s somewhat tautological – uncertainty is intrinsic to investing, and a wider distribution of outcomes naturally demands higher risk premia. What’s less mentioned, however, is the inverse: markets love a reduction in uncertainty, even when the resolution of that uncertainty is not ideal.
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White papers2024 Stewardship Annual Report
Read about Allspring’s stewardship efforts in this year’s annual report. We aim to advance the financial, operational, and sustainability performance and risk management of investee companies for years to come.
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White papersFederal policy shifts reshape the municipal bond landscape
The One Big Beautiful Bill Act introduces sweeping changes to municipal credit across multiple sectors. Despite Medicaid reforms, education funding cuts and energy policy shifts, municipal issuers remain resilient with strong fundamentals, revenue growth and historically high reserves.
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White papersWatching for a renaissance in China equities
A unique combination of a mixed economic picture, cautious investor sentiment and active government support is creating a favorable setting for stocks
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White papersInfrastructure inflows: trickles turn to torrents
A heightened pace has returned to unlisted infrastructure fundraising in the first half of 2025, following a subdued 10 quarters since the rate hiking cycle commenced in mid-2022. The latest indicators show the final closes of closed ended funds raised USD 116 in 1H25. This exceeds the total raised in all of 2024, as well as matching the surge of inflows seen in 1H22, when the asset class benefited from the anticipation of the US Inflation Reduction Act and earlier Infrastructure Investment and Job act. The fact that the fundraising market has managed to match this pace, despite a more challenging monetary and geopolitical backdrop, is testament to investors’ ambitions for greater exposure to the asset class.
