News & Insights

Monthly Checkpoints

November 19, 2025

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.

Clear visualization and data-driven insights make it easy to grasp complex concepts, empowering investors to make more informed decisions. Whether you’re navigating volatile markets or planning for long-term growth, Checkpoints serves as an essential tool for staying ahead in an ever-changing financial environment. Gain in-depth perspective and greater clarity on key drivers and potential scenarios framing the financial landscape in this thoughtful outlook from the BNY Investment Institute.

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BABR-844992-2025-11-24

Article | Macroeconomic

UK Chancellor opts for backloaded fiscal tightening in mixed bag Budget

UK Chancellor Rachel Reeves has delivered a highly anticipated Autumn Budget against a backdrop of intense public and market scrutiny. Significant tax rises were announced but fiscal tightening is mostly pushed to a few years down the line, says BNY Investment Institute head of economic research, Sebastian Vismara.

Chart of the week | Macroeconomic

Healthy correction?

After climbing 17% year to date through late October, the S&P 500 declined 5% through November 20. We believe the market was due for a healthy correction. While further downside is possible, it would not concern us.

Article | Macroeconomic

Treasury Road Trip

At $30 trillion outstanding, on its way to $52 trillion over the next decade, the U.S. Treasury market is the deepest, most liquid government bond market in the world.

Chart of the week | Macroeconomic

The global economy is holding up

This past year was rife with risks to the global economy: policy changes, tariff uncertainty and more. Yet, the global economy held up as manufacturing and services activity strengthened across the world. We see an opportunity for U.S. investors to diversify geographically.