Real Estate

Separating the signal from the noise may be the hardest challenge investors face. We’re all surrounded by constantly changing but mostly unimportant information. Of the small part that really is important, we must decide if it affects our investments.

Tariff policy has clouded expectations for the second half of the year, but there are ways to navigate through the fog.

Alex Veroude, Global Head of Fixed Income, believes fixed income investors can prepare for an uncertain journey by recognising trends and diversifying across different assets.

Global markets may be more rattled than ever, but advisors can count on closed-end funds to offer yield, portfolio diversity, and more.

Summer re-runs are popular on TV, but a repeat of last August's "yen-carry" market upheaval isn't likely on the schedule. A shift in positioning by investors is one reason.

In the history of technological progress, there's often a critical misreading. We think the leap is in the product—the engine, the chip, the app.

With tariff news providing constant equity market fluctuations, the case for bonds becomes more compelling. The added uncertainty also punctuates the need for an active management strategy, which one particular Vanguard ETF offers.

The first half of 2025 has been driven by headlines that have caused volatility in both the stock and bond markets. While tariff negotiations have commanded the most attention, we are now pivoting to the federal budget deficit, which feels like a perpetual headline over the last 15 years.

Integrating volatile and illiquid assets into the ETF structure is something to be avoided, Doubleline CEO and CIO Gundlach said.

With the world order in flux, investors can look to fortify portfolios by diversifying across global markets and capitalizing on attractive, high quality yields.

While the immediate path for tariffs may drift lower, the U.S. legislative branch is hammering out a tax and spending bill that seems to favor tax cuts over lower spending, reviving worries over the U.S. budget deficit and a growing debt burden that cannot be ignored.

The global economy is continually evolving due to inflation, interest rates, and geopolitics. How could these and other factors influence the major asset classes over the coming decade?

If we lived in a world where mobile signals were visible, the sky would shimmer like a storm—layers of frequencies rolling over rooftops, crossing oceans and saturating valleys.

The U.S. economy and stock market face a confluence of challenges in the second half of the year, keeping the bar relatively (but not restrictively) high for outperformance.

The US housing market remains in a state of inertia. Despite the arrival of the spring selling season, both new and existing home sales continue to underwhelm.

Small-cap stocks tend to offer greater growth potential than their large-cap peers, but those returns have yet to materialize consistently. What will it take to turn the tide?

The Fear Trade is what most Western investors are familiar with. It’s the flight to safety during times of uncertainty, driven by concerns over inflation, interest rates, geopolitical risk and more.

Investors may revisit international exposure in their portfolios amidst reduced market reactions to tariff announcements, uncertain U.S. policy and lagging U.S. stock performance.

Back during the Financial Panic of 2008, clickbait media kept screaming “Hyperinflation.” We consistently pushed back against this theme, and argued inflation would not accelerate.

Research trips are an integral component of our active, fundamental investment process. Our investment teams meet with different companies, attend conferences, and travel to new markets around the world, gaining insights for our clients and a deeper understanding of potential investments.

Bouts of volatility may continue in the second half of 2025 as bond market investors navigate evolving tariff policy, U.S. government debt, and economic uncertainty.

Kristofer Kraus, portfolio manager and co-lead of PIMCO’s asset-based finance business, charts the nuances behind the overall resilience of U.S. consumers – and explains how these insights shape lending and investment strategies.

We remain underweight most developed market stocks as US tariff policy is still unclear but are more enthusiastic about emerging market assets.

In the last three months tariff news has whipped financial markets around remarkably in response to President Trump’s ever changing tariff policies. The most pronounced reactions were concentrated in the US stock market.

Private investments demand patience, but the rewards could be worth the wait.

Stocks rallied in May 2025 as trade tensions eased, but investor confidence remains fragile.

Investors may revisit international exposure in their portfolios amidst reduced market reactions to tariff announcements, uncertain U.S. policy and lagging U.S. stock performance.

Duration is an often confused term when it comes to financial fixed income investing. After all, in your everyday life, the definition of duration is the length of time it takes for something to occur.

The muted IPO market which has become commonplace in the last few years continued in that fashion through the first five months of 2025. However, the last few weeks has brought a renewed focus to dealmaking after a couple of highly anticipated IPOs began trading, and a cryptocurrency unicorn filed to IPO.

Mortgage rates last week climbed to their highest levels since the beginning of the year on elevated economic risks. With markets still hopeful of at least one interest rate cut in the second half, the real estate sector stands poised to bounce back in a lower rate environment.

This past week, news flow around policy came in hot and heavy, with President Trump’s ‘Big, Beautiful’ tax cut bill passing the House of Representatives, and Trump threatening 50% tariffs on the European Union (EU).

Similar to the equity market’s response to the recently announced tariffs, the bond market responded with a widening of credit spreads. These spreads represent the difference in yield between a U.S. Treasury bond and other bonds of the same maturity but different credit quality.

It doesn’t take much to understand that Ray Dalio, a hedge fund titan, is like every other human being and is prone to error. I will not dismiss Dalio entirely, as his track record of managing money at Bridgewater is nothing to be scoffed at.

With current home sales at historical lows and mortgage rates hovering between 6% and 7%, homeowners who are locked into previously secured low-interest mortgages remain hesitant to sell. In fact, existing home sales have reached depressed levels unseen in three to four decades.

Corporate credit spreads, whether investment grade or high yield, can often hint at hiccups in the stock market and the economy. But they tend to keep a low profile.

Many investors have underweighted high yield bond ETF strategies in recent years, satisfied with the opportunities found in other segments of the fixed income market.

Remember last July and August when the yen carry trade blew up? At the time, the central bank surprised the market by signaling a faster pace of rate hikes than expected. Investors sold foreign currency, bought back yen and sent markets into a tailspin.

There is still a wide divergence between hard and soft data, and a recovery in the latter is likely to be weak absent a meaningful reduction in policy uncertainty.

Some of the most useful financial advice has a homespun tone, like to make hay while the sun is shining or save up for a rainy day. I recently encountered another helpful idea in that vein: Think of your house like a family member who is always sick.

Residential mortgage-backed securities, or MBS, are a big part of the securitized investment market. Here's what to know about MBS investing.

Mounting concerns regarding growing U.S. government deficits and a volatile tariff policy create a challenging backdrop for U.S. bonds.

My next few letters will share some initial thoughts from SIC organized around the major topics. Today we’ll start with inflation, and specifically the sharply different views of David Rosenberg and Jim Bianco, then balance them with some thoughts from other speakers.

Selling your real estate portfolio, especially investment properties you and your family have held for years or decades, can be a complex process.

Shopping for bonds? The bonds you choose should align with your risk tolerance and goals. Discover what to consider before buying any bond.