All United States articles – Page 7
-
White papersCross Asset Investment Strategy - July-August 2025
“While the OBBBA’s tax cuts may stimulate the US economy in the short run, rising trade tariffs this summer could limit gains. The bill also heightens medium-term growth risks.”
-
White papersAntifragile? Renewable energy infrastructure after the One Big Beautiful Bill
Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.
-
White papersA Weaker Dollar? It May Be Time to Get Used to It
Policy shifts may create an incentive to diversify.
-
White papersEnvisioning a post-Powell Fed: What comes next?
With characteristic directness, President Trump has expressed dissatisfaction in recent weeks with the job performance of Federal Reserve Chair Jerome Powell. Serious or not, this kind of talk has investors speculating on what’s next for the US central bank and what a changing of the guard could mean for the economy and markets — whether that change comes at the end of Powell’s term as chair in May 2026 or sooner.
-
White papersChina’s growth set to hit target in 2025
“Resilient China’s growth highlights the economy’s ongoing efforts to adjust trade partnerships and manage tariff-related challenges, keeping it on track to reach its growth target for 2025.”
-
White papersO’Connor Global Multi-Strategy Alpha Monthly Letter: Positioning beyond the US
In June, global markets navigated a complex web of economic and geopolitical developments, creating a striking paradox: rising trade barriers and the ensuing risk of rising inflation on the one hand, and record-high equity performance on the other. Despite these tensions, recent data reveal a resilience in market sentiment.
-
White papersSummertime…but will the Fed be easing?
With noise levels still high, certainty on policy remains elusive.
-
White papersSigns of a growing deficit attention disorder
Short-term risk-on distractions should give way to long-term economic reality.
-
White papersWill Policy Clarity Spark a New Wave of Economic Growth?
While tariff uncertainty continues to linger, the passage of the One Big Beautiful Bill provides business leaders with long-awaited policy clarity that may provide a boost to capital expenditure.
-
White papersUS fixed income – Reasons for concern
Developed market interest rates remained generally range bound in the second quarter. The US economy can be expected to pivot towards higher inflation and slower growth. Such a trajectory may well lead the US Federal Reserve to loosen monetary policy in the third quarter, writes Olivier De Larouziere.
-
White papersTwo paradigms: regulated utilities across the Atlantic
We offer a comparative look at US and European utility regulation and what it means for investors navigating two distinct models of oversight.
-
White papersA brief history of US protectionism and global trade
Earlier this year, massive trade uncertainty caused extreme market volatility. Since then, concerns over economic costs, retaliations, and legal challenges have eased tensions. Markets now price limited stress, suggesting peak tensions are behind and current tariffs have become the new norm. However, when considering Trump’s transactional approach: a sense of calm is often followed by renewed pressure. While peak stress may have passed and dealmaking may take priority, we still expect US trade policies and sustained tariffs to pressure supply chains and activity, fueling uncertainty and occasional volatility spikes.
-
White papersQ2 Pension Funding Status
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., estimates that, as of June 30, 2025, the average U.S. corporate pension funded status rose to 105.1%. This was up 2.1% from 103.0% as of March 31. MIM manages approximately $600 billion in total assets under management, including over $30 billion of long duration and liability driven investments.
-
White papersUS tariffs delayed to August
“The ongoing tariff-related uncertainty points to the transactional and unilateral approach of the United States that can complicate matters for policymakers around the world.”
-
White papersThe “One Big Beautiful Bill Act” and implications for commercial real estate
The “One Big Beautiful Bill Act” (OBBA), which was signed into law on July 4, 2025, preserves and, in many cases, strengthens the tax advantages of owning U.S. commercial real estate (CRE), both equity and debt. These provisions have the combined impact of lowering taxable income while increasing cash on cash returns and net operating cash flow. Additionally, section 899 (which was expected to have negative implications for foreign investment in the U.S., given its retaliatory tax measures) was removed from the final bill. Bottom line, the final bill is widely viewed to have net positive implications for the U.S. commercial real estate market.
-
White papersWhy the dollar deserves more credit
In a recent paper, we argued that sustained weakness in the US dollar would require clear evidence of narrowing real interest rate or growth differentials between the US and its major trading partners—conditions that have yet to fully materialise. Since then, the narrative around the weak dollar has continued to gain traction, but much of the perceived dollar weakness is actually a reflection of euro strength, which may now be overextended.
-
White papersShaken, but not stirred
The U.S. economy remains resilient but is gradually losing momentum, while policy uncertainty continues to cloud the global outlook. Selective opportunities are emerging in fixed income, private markets, and high-quality equities supported by solid fundamentals.
-
White papersChicago Multifamily: Fundamentals Outpacing Perceptions
Nationally, commercial real estate total returns declined by an average of 3.4% annually from the 2022 peak through 1Q 2025 (Exhibit 1), primarily due to the Federal Reserve’s rate hikes. While these macro headwinds have affected all markets, our attention is now shifting to local supply-and-demand fundamentals, which will increasingly determine performance. In this context, Chicago’s multifamily sector stands out: After years of underperformance, it now appears poised to close — and potentially reverse — its valuation gap relative to peers.
-
White papersEmerging Markets Debt: Is It What Your Asset Allocation Needs?
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.
-
White papersIndependence Day’s big tax bill
Ballooning US federal deficits will heighten investors’ concerns about the sustainability of US fiscal policy, pushing them to look for opportunities arising in other areas.
