Time to Read: 7 mins
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.
BABR-1009157-2026-09-30 | GU-950 1 March 2027
Persistent cost pressures appear here to stay, yet the same forces that strain rate-sensitive corners of the market may open doors elsewhere. Explore how US equity income can seek out businesses with durable cash flows, reasonable valuations and pricing power through an extended period of elevated costs.
Is France moving closer to a crisis? French government bond spreads are at their widest in almost 15 years driven by high inflation, rising global yields, and ongoing fiscal challenges, among other factors.
U.S. high yield credit spreads have widened year to date, reflecting greater investor caution about perceived default risk. The move also raises concerns about possible credit contagion. However, because spread widening has been concentrated in the lowest-quality issuers rather than higher-quality issuers, we don’t anticipate broader market stress.
Change can be difficult to navigate, especially when its principal agent explicitly rejects prevailing norms. Less than five months into the job, Federal Reserve (the Fed) Chair Kevin Warsh has put investors in that position, which makes charting the course of monetary policy complicated.
This is a marketing communication