INSIGHTS

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.

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.

May’s jobs report showed a labor market that is improving, with payroll growth exceeding expectations and layoffs down sharply from last year. Steady hiring and fewer layoffs should continue to support consumer spending and U.S. economic growth.

Investors often associate large cap equities with passive strategies, especially in large cap blend. This is not surprising given that over the past three years, the median manager in the active large cap blend space outperformed the benchmark only 3% of the time after fees.

Walter Scott’s John Rae assesses outsourced drugs manufacturer Lonza’s role in the healthcare ecosystem.

Walter Scott’s John Rae outlines why the long-term case for food company Compass Group remains strong despite recent AI-driven market fears.

Murdo MacLean shares Walter Scott’s perspective on three headwinds facing equity markets.

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.

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.

Welcome to another edition of Vantage Point, the quarterly economic and markets outlook from the BNY Investment Strategy & Research Group.

Welcome to another edition of Vantage Point, the quarterly economic and markets outlook from the BNY Investment Strategy & Research Group.