APPROFONDIMENTI

A sharp repricing has pushed 10-year U.S. Treasury yields to around 5.30% following the Federal Reserve's (Fed) 25 basis point (bp) hike in September, with real yields doing the heavy lifting.

Explore how an absolute-return approach may offer flexibility as persistent inflation challenges traditional portfolio assumptions and reshapes opportunities across markets.

L’inflazione non si sta più comportando come uno shock temporaneo. Mentre scelte di policy, tensioni geopolitiche, dinamiche demografiche e deglobalizzazione stanno rimodellando il contesto degli investimenti, le ipotesi che hanno sostenuto la costruzione dei portafogli nell’ultimo decennio potrebbero non essere più sufficienti.

Sticky inflation and resilient growth have revived monetary tightening, increasing the risk of higher-for-longer rates and near-term volatility. We continue to believe economic resilience and strong corporate profits should continue to provide a favorable backdrop for stocks, and would use periods of market weakness to add selectively to equities. Additionally, owning real assets can help hedge against inflation.

Checkpoints is a comprehensive monthly chartbook highlighting major top-of-mind themes that could shape financial markets in the near term. In addition to the broader macroeconomic discussion, Checkpoints delivers detailed views on major asset classes, including global equities, fixed income and real assets.

The U.S.’ extraction of President Maduro from Caracas on January 4 could alter the trajectory of geopolitics in the Americas.

BNY's commitment to insight and perspectives comes to life through our investment and market leaders who gather quarterly to debate the key issues shaping markets today.