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-977625-2026-07-29 | GU-913 - 29 January 2027
Stocks, as measured by the S&P 500, are up over 13% through early August. The solid gains have been fueled by a resilient economy, steady consumer spending, optimism around artificial intelligence and better-than-expected earnings growth. Still, some investors worry the advance may be too concentrated in technology and that AI-capex monetization may fall short of expectations. A closer look suggests that it is not just tech moving the market higher.
Positive correlation between risk assets and government bonds breaks the roles these asset classes play within a portfolio. Here, we outline why correlations have risen, and how investors can seek to limit the impact on their portfolios.
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