All United States articles
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White papersThe case is no longer if. It’s how.
Regulatory clarity and institutional adoption have transformed digital assets into a legitimate asset class. Major financial players are deploying capital into blockchain, stablecoin, and tokenization infrastructure at scale.
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White papersWebinar: Geopolitics and the US midterms
Watch political economist Matt Miller and Reagan Anderson, SVP of government & regulatory affairs, take a look at election‑year markets.
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White papersPrivate Markets Outlook 1H 2026: Balancing Opportunity and Complexity
As private markets continue to evolve, investors face an expanding range of opportunities and risks.
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White papersCIO Weekly: Is the Semis Surge Sustainable?
Semiconductors are leading one of the most explosive equity rallies in years. Fundamentals are keeping pace, giving strength to the rally’s durability.
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White papersInflation question haunts the market
US PPI, a measure of inflation at the producer level, rose to 6% year on year in April, the highest since December 2022 and well above market expectations. Energy price inflation also rose sharply since March. The data suggest that the war in the Middle East is beginning to feed into the real economy through higher input costs for companies, raising the risk that these costs may be passed on to consumers.
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White papersMacro Brief: How might Kevin Warsh steer the Fed?
Incoming Federal Reserve chair Kevin Warsh is entering a period of inflation uncertainty, an uneven labour market, geopolitical pressures and elevated debt, all of which may limit policy flexibility.
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White papersWarsh appointment: Inflation sets the early agenda
Kevin Warsh’s tenure as Federal Reserve chair begins amid heightened market scrutiny as investors grapple with renewed inflationary pressure. Stronger‑than‑expected April CPI reinforces the case for patience, even as the new chair has expressed comfort looking through one‑off price pressures. However, the Fed’s consensus decision‑making structure and the drift of core inflation away from target both suggest policymakers may hold off on cuts and keep policy unchanged longer than anticipated. For investors, the risk is rising that it will be 2027 before they see any further policy easing from the Fed.
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White papersU.S. High Yield: Beyond the Maturity Wall
The maturity wall facing U.S. high yield bond issuers is sizeable. But given the market’s composition today, the wall appears less daunting for issuers—and, for investors, it’s helping shape potentially compelling opportunities.
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White papersWhat Does Higher Inflation Mean for the US Economy and Fed?
With inflation rising, consumers are feeling the pinch and the Fed is weighing its options.
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White papersApril CPI report: Fed easing is becoming increasingly unlikely in 2026
After an extended period of cooling inflation, the impact of the Middle East conflict is driving a reacceleration in prices. Headline inflation rose 0.6% in April, lifting the annual rate to 3.8% and approaching a three-year high. Similar to March, energy was the largest contributor, accounting for over 40% of the increase. The more notable development in today’s report, however, was the upside surprise in core inflation, which excludes food and energy.
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Asset Manager NewsHeitman Launches Core-Plus Self-Storage Investment Strategy
Heitman LLC (“Heitman”), a global real estate investment management firm, today announced the launch of a core-plus strategy focused on self-storage assets across the United States.
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White papersCIO Weekly: The Mag 7 Pulls Apart
The “Magnificent 7” moniker has had a good run. But the basket is beginning to break at the same time more granular AI-related equity stories are gathering momentum.
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VideoUS High Yield Market Update – Performance, outlook, and portfolio positioning
In this quarterly update video, Jack Stephenson, US Fixed Income Investment Specialist, discusses what’s driving performance in US high yield right now, his current outlook for the asset class, and how the team are positioning portfolios for the months ahead.
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White papersPrincipal Well-Being Index: Optimism among businesses in short supply
Macro uncertainty amid a series of shocks has led to a decline in confidence in both the business and broader economic outlook. Moreover, despite limited direct global exposure, these shocks have made small businesses grapple with the same macro pressures long faced by larger firms. Helping buffer these concerns, however, are relatively resilient underlying fundamentals, which should reduce the risk that these anxieties translate into broader economic weakness.
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White papersApril jobs report: Solid gains support a Fed holding pattern
The April employment report showed a significantly stronger-than-expected 115,000 gain in payrolls. This was bolstered by a positive revision to last month’s even stronger gain. Strong payrolls and a still-low unemployment rate demonstrate the labor market’s resilience despite the ongoing energy shock, easing concerns about recessionary conditions. Moreover, with wages trending lower, the risk of an inflationary spiral remains low, providing the Fed with some breathing room.
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White papersHow AI is reshaping US equity markets
Signs of transformation are emerging in US equity markets amid a torrent of AI-related spending. The shift comes after more than a decade of concentrated gains for market-cap-weighted indices, which, thanks to a narrow group of mega-cap technology stocks, pushed valuations to historic extremes.
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White papers2026 Europe - Self Storage, Sector Update
The self storage sector in the Europe continues to see solid fundamentals, with strong rental growth and stable occupancy despite a marked increase in supply reflecting demand for the sector. Self storage’s relative outperformance to other commercial real estate sectors continues to drive an increase in institutional interest in the sector.
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White papersCIO Weekly: The Fed’s New Era
Last week’s Federal Reserve meeting was always going to be less about rates than about legacy: what Fed Chair Jay Powell leaves behind and what his successor, Kevin Warsh, walks into.
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White papersThe presence of absence
Powell will no longer speak from the podium, but by remaining on the Fed board, his voice remains.
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PodcastUS small caps – Reasons to be cheerful
US small-cap stocks had a strong start to 2026 with the Russell 2000 index significantly outperforming the S&P 500 large cap. Geoff Dailey, Head of US Equities, tells Daniel Morris, Chief Market Strategist, that the main driver was the artificial intelligence theme. The AI infrastructure boom has helped semiconductors, tech and hardware engineering names, while rapid product development in agentic AI pressured software stocks.
