Special Report

The dollar enters 2026 on the edge of a structural decline. Our FX Key Views report maps the valuation, flow, and policy pressures that could finally trigger a sustained downtrend – and where the trade opportunities lie.

This year, we once again present our 2026 outlook as a retrospective from the future – a future in which the AI boom turned to bust.Next week, please join me for a Webcast on Wednesday, December 17 at 10:30 AM EST (3:30 PM GMT, 4:30…

The dollar rebound has paused, but not yet peaked. With near-term momentum still intact, we see room for further upside before structural headwinds reassert, favoring selling into strength.

Markets are increasingly pricing an end to the global easing cycle, with many central banks expected to remain on hold. But uncertainty remains high, and policy surprises are likely going into 2026. This Strategy Report breaks down…

Markets are increasingly pricing an end to the global easing cycle, with many central banks expected to remain on hold. But uncertainty remains high, and policy surprises are likely going into 2026. This Strategy Report breaks down…

In this week’s note, we share the main implications for European investors from what was discussed at the BCA Conference in New York and provide a short list of the questions most frequently asked by investors we met recently in…

The belief that net portfolio outflows out of the US will fuel EM assets is a common but misguided narrative. If the US starts experiencing net capital outflows, it would need to run a current account surplus. A shift in the US…

In this Q4 Strategy Outlook, we discuss where we stand on our recession call, the outlook for stocks and bonds in various scenarios, why investors are misunderstanding the impact of AI on corporate profits, whether the US dollar has…