AB 2025 Midyear Outlooks
Fixed-Income Outlook: Expanding the Field
It’s been a volatile few months for US debt and the dollar, with sudden shifts in trade and fiscal policy raising some concerns about the safe haven status of dollar-denominated assets. With US policy questions likely to remain front and center, we think bond investors wrestling with tariff-related volatility may want to lean into a more global approach.
Equity Outlook: Applying Timeless Insights for Volatile Times Ahead
For six turbulent months, equity investors faced a daunting combination of technological disruption, policy uncertainty and geopolitical tension. Reviewing lessons from the first half can help prepare for volatility that’s likely to recur in the quarters ahead.
Municipal Midyear Outlook: Hold Fast, Stay Agile
The municipal bond market faced strong headwinds in the first half of 2025, with tariff and budget policies, including debate over the One Big Beautiful Bill Act (OBBB), weighing heavy on investor sentiment. It’s understandable that the headlines made investors jittery, but it’s important to look beneath the surface noise at the underlying muni bond market.
Private Credit Outlook: Five Lessons Learned
As we reflect on recent events and beyond, here are five key takeaways:
It’s All About the Alpha
Recurring Revenue: It’s Not Created Equal
Disruption Once Again Breeds Opportunity
Diversification, Diversification, Diversification
The Consumer Isn’t a Monolith
Multi-Asset Income Midyear Outlook: Income and Resilience Among the Bumps
Karen Watkin, CFA, Fahd Malik, Edward Williams
As we look to the second half of 2025, key macroeconomic drivers will likely include the direction of US fiscal and trade policy, the Federal Reserve’s monetary-policy stance and timing of potential rate cuts, and ongoing geopolitical and other related uncertainties.