All United States articles
-
White papersFed cuts, keeps a balanced tone
The Federal Reserve (Fed) reduced its target federal funds rate by 25bp at its December policy meeting. Chair Powell acknowledged that risks to both sides of the Fed’s dual mandate — inflation and labour markets — remain. However, we believe some signals from the Fed suggest labour markets are weaker than current data indicates.
-
White papersFor Utilities, AI Poses Questions of Capacity and Affordability
The data center buildout is helping drive electricity demand, utility capex and issuance, but it is also fomenting risks tied to regulation and stranded generation capacity.
-
White papersU.S. Rates: How Low Can They Go?
A more dovish rate cut than anticipated by the U.S. Federal Reserve has created an interesting setup for fixed income markets next year. The focus on its independence adds another dimension.
-
White papersPrediction Markets Are Upending U.S. Gambling: What It Could Mean for Non-Investment Grade Credit
A 2024 court ruling allowed prediction markets to operate as federally regulated event contract exchanges. With nationwide reach, these products are pressuring state regulated sports books, lotteries and casinos—raising new considerations for non-investment grade issuers and investors.
-
White papersIPOs aren’t dead, they’re just napping…
It would be a massive understatement to say that the IPO market has seen fluctuations over the past five years. Only four short years ago, US markets experienced a record-breaking 1,035 IPOs, driven largely by the near-zero interest-rate market environment.
-
VideoNeuberger Berman Private Markets: Q3 2025 Preliminary Valuation Summary & Analysis
For Q3 2025, based on preliminary analysis, Neuberger Private Markets currently anticipates that buyout funds (including growth equity) will increase in value by an average of 1.2% in USD. Similarly, venture capital funds are expected to increase in value by an average of 4.4% in USD, albeit with a much wider dispersion than the buyout sample.
-
White papersBeyond the Magnificent Seven: How US SMID caps are riding the AI wave
US small and mid-cap (SMID) companies are emerging as quiet powerhouses in the AI economy. In this video, Charlotte Daughtrey, Investment Director, Equities, outlines how these companies are using new technologies to innovate faster, streamline operations and reveal exciting opportunities across the entire AI value chain.
-
White papersWheels in motion at the Fed
In addition to mulling interest rates, the Fed is looking out for complications stemming from the end of quantitative tapering.
-
White papersTime For Your Close-Up, Mr. Roboto
As artificial intelligence converges with the physical world, a variety of humanoid robots are ready to stride from the showroom floor into our daily lives.
-
PodcastBeyond Long-Only: How 130/30 SMAs May Rejuvenate Tax-Loss Harvesting
Tax-managed equity has evolved beyond the traditional long-only playbook. By adding selective shorts and leverage, 130/30 active extension strategies aim to unlock higher alpha while maintaining market-level beta—plus potentially meaningful after-tax benefits through disciplined loss harvesting. Where can this approach fit in portfolios today?
-
White papersU.S. Economy: All Noise and No Signal?
Although the government shutdown has officially ended, economic observers and market participants have had over 40 days with virtually no official economic statistics from the government. Moreover, government data will likely still be affected even after the government reopens due to interruptions in the data collection process. The shutdown itself is expected to distort the data, as a significant number of federal workers saw no paychecks, reduced spending and filed for unemployment benefits (that need to be repaid).
-
White papersCorporate law showdown: the battle for incorporation supremacy in the United States
Well over half of Fortune 500 companies are incorporated in Delaware, owing to its business-friendly reputation and its Court of Chancery-a respected authority on corporate law, with well-developed and predictable case law that gives investors confidence. Beyond being the most common state of incorporation, Delaware is where shareholder rights are most frequently tested, with hundreds of fiduciary duty suits litigated annually in its Court of Chancery As a result, Delaware produces a body of precedent that sets the standard nationally concerning shareholder litigation and directly affects investors in U.S. public companies. For European institutional investors holding billions in U.S. equities, this means Delaware litigation has historically been the most reliable avenue to secure recoveries and governance reforms.
-
White papersAI investment drive calls for diversification
“Worries about extreme valuations in US mega caps call for a diversified approach into areas and sectors which are supported indirectly by AI, but more reasonably priced.”
-
White papersInvestor protection thirty years after the PSLRA: a creeping immunity for corporate misconduct
Since the beginning of 2025, U.S. policymakers have been systematically rolling back investors ability to challenge corporate misconduct. The SEC has purported to limit institutional investors’ ability to propose matters for a shareholder vote, to engage directly with management on issues of concern, and even to access the courts to seek relief for fraud. In the race to attract more corporations to their jurisdictions, states such as Delaware, Texas, and Nevada have dramatically limited shareholders’ rights to govern corporations organized there.
-
White papersMIM Q3 2025 Investment Grade Corporate Market Review and Outlook
MetLife Investment Management’s investment grade corporate credit platform delivered strong results in Q3 2025, supported by resilient investor demand, renewed appetite for duration and the Federal Reserve’s pivot toward rate cuts. Quarterly issuance reached $397 billion — 23% above the four-year average — with September’s $214 billion total ...
-
White papersSeptember jobs report: Finally, some data
The report provides updated labour-market data (non-farm payrolls etc.) reflecting underlying economic and employment trends in the U.S., which have broader implications for CRE demand and overall real-estate fundamentals via consumption, income and employment stability
-
White papersFall 2025 Private Markets Outlook: In an Inflection Year, Selection Matters More
Private markets appear to be nearing an inflection point, presenting both new opportunities and risks. We believe that’s when manager selection matters most.
-
White papersU.S. Core Real Estate: A New Cycle Is Emerging
Clarion believes that the U.S. commercial real estate market is embarking on a new cycle. Following a phase of re-pricing and adaptation to elevated interest rates, private real estate, as represented by the national NCREIF property index (NPI), has posted multiple consecutive quarters of stable values and positive investment performance driven by income. The cycle is underpinned by, on one hand, a potentially more favorable outlook for capital markets, as the Federal Reserve has resumed interest rate reductions. On the other hand, stabilizing and strengthening demand fundamentals, along with diminishing supply-side constraints, should further support the new cycle. Liquidity has returned to the debt markets, and investor sentiment appears to be improving, especially for the sectors that continue to demonstrate operating solidity and strength.
-
White papersUS equities - Artificial intelligence: Not a bubble… yet
Artificial intelligence (AI) is the most impactful digital transformation theme since the development of the Internet.
-
White papersIndustrial Real Estate: Short‑Term Uncertainty, Long‑Term Confidence
Industrial fundamentals have cooled as the sector works through excess supply built up following the pandemic and absorption softens as occupiers normalize to long-term trends and/or remain wary of macro risks. While demand indicators remain broadly positive and we are beginning to see green shoots in certain submarkets and size segments, headline rents are declining in some key markets, including Southern California. These market dynamics are raising questions among investors, especially as industrial now represents the largest portion of diversified indices (the expanded NPI’s allocation is ~33% as of 2Q 2025).
