EQUIPPED FOR CHANGING TERRAIN
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2026 Q2 MACRO OUTLOOK
Vantage Point:
Pressure Points
Welcome to another edition of Vantage Point, the quarterly economic and markets outlook from the BNY Investment Strategy & Research Group.
Chart of the Week |
Macroeconomic
Despite persistent concerns that sticky inflation would erode purchasing power and drag consumer spending lower, the May retail sales data tells a different story. Spending is up not just in dollar terms, but in quantity, highlighting continued consumer resilience.
Article |
Financials
Why inflation may stay higher for longer, and what fixed income investors can do about it.
Article |
Macroeconomic
Tension in the Middle East is thrusting energy security to the forefront of sovereign risk, alongside growth and debt. We examine the fault lines in global energy, food and water systems — and the potential implications for sovereigns and companies.
Chart of the Week |
Macroeconomic
Inflation has jumped since the Strait of Hormuz closed, squeezing consumers through higher gas and utility bills and pressuring businesses with higher freight and operating costs. Yet, longer-term inflation expectations remain contained, suggesting this looks more like a temporary energy shock than a lasting inflation upswing.
The value of investments can fall. Investors may not get back the amount invested.
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