Our collected views...

2024 Global Market Outlook Midyear Update

How central bank policy could impact your portfolio

Equities

Looking ahead to keep our clients on the right side of change

Fixed Income

Inspired to think, inspired to perform

This Quarter (Q4 2024) Hide

October 2024 / INVESTMENT INSIGHTS

Could a 5% 10-year Treasury yield be around the corner?

Could a 5% 10-year Treasury yield be around...

Higher Treasury yields expected due to fiscal spending and Fed quantitative tightening.

By Arif Husain

Arif Husain Head of Fixed Income and Chief Investment Officer, Fixed Income

Previous Quarter (Q3 2024) Hide

July 2024 / INVESTMENT INSIGHTS

Ahead of the Curve - “Shadow banking system” creates a trickier path...

Ahead of the Curve - “Shadow banking system” creates a trickier path for...

Ahead of the Curve - “Shadow banking system”...

Rise in nonbank lending drives banks to shift risk exposure

By Arif Husain

Arif Husain Head of Fixed Income and Chief Investment Officer, Fixed Income

July 2024 / INVESTMENT INSIGHTS

Active investing is suited to the uncertain markets ahead

Active investing is suited to the uncertain...

Changing market conditions will provide new risks and opportunities.

By Robert W. Sharps

Robert W. Sharps CEO and President

Q2 2024 Show

June 2024 / INVESTMENT INSIGHTS

China’s economy enters a new cycle—unveiling fresh opportunities

China’s economy enters a new cycle—unveiling...

China’s economy has undergone a deep structural adjustment.

By Wenli Zheng

Wenli Zheng Portfolio Manager, China Evolution Equity Strategy

May 2024 / INVESTMENT INSIGHTS

Ahead of the Curve - Three Fed scenarios, same result: higher yields,...

Ahead of the Curve - Three Fed scenarios, same result: higher yields, steeper...

Ahead of the Curve - Three Fed scenarios,...

Ignore the noise. Very little has actually changed.

By Arif Husain

Arif Husain Head of Fixed Income and Chief Investment Officer, Fixed Income

May 2024 / INVESTMENT INSIGHTS

What factors are driving U.S. exceptionalism, and will they last?

What factors are driving U.S. exceptionalism,...

U.S. economic growth has outperformed other developed markets, and inflation has...

By Blerina Uruçi

Blerina Uruçi Chief U.S. Economist

May 2024 / INVESTMENT INSIGHTS

Let’s get real (about interest rates)

Higher real rates in the coming years might favor value stocks

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO

May 2024 / INVESTMENT INSIGHTS

How do U.S. elections affect stock market performance?

How do U.S. elections affect stock market...

It’s the economy that matters for U.S. presidential elections and stocks.

By Thomas Poullaouec & Nathan Wang

April 2024 / VIDEO

Navigating the AI cycle

After meeting with more than 50 technology companies across the US, Asia and Europe,...

By Dominic Rizzo

Dominic Rizzo Portfolio Manager

April 2024 / INVESTMENT INSIGHTS

Adding emerging market debt exposure? Look to local bonds.

Adding emerging market debt exposure? Look...

Five reasons to add emerging market debt to a bond portfolio

By Arif Husain

Arif Husain Head of Fixed Income and Chief Investment Officer, Fixed Income

April 2024 / INVESTMENT INSIGHTS

With rising headwinds, uncover the power of quality credit research

With rising headwinds, uncover the power...

Corporate bonds offer attractive income, but security selection is imperative amid...

By Justin Gerbereux

Justin Gerbereux Head of Global Fixed Income Research

Q1 2024 Show

March 2024 / INVESTMENT INSIGHTS

Current market inflation expectations are ridiculous

Current market inflation expectations are...

I think core inflation will reaccelerate after falling to around 2%.

By Arif Husain

Arif Husain Head of Fixed Income and Chief Investment Officer, Fixed Income

March 2024 / INVESTMENT INSIGHTS

China’s National People’s Congress: Key points

NPC announcements in line with expectations.

By Robert Secker

Robert Secker Portfolio Specialist, Equity Investment Specialists

February 2024 / INVESTMENT INSIGHTS

New diabetes and obesity drugs show promise for patients and investors

New diabetes and obesity drugs show promise...

By Nabil Hanano & Jeffrey Holford

February 2024 / INVESTMENT INSIGHTS

Central bank rate-cut pricing is eye-catching but deceiving

Central bank rate-cut pricing is eye-catching...

By Arif Husain

Arif Husain Head of Fixed Income and Chief Investment Officer, Fixed Income

February 2024 / VIDEO

The Fed Has Pivoted. What’s Next?

With cooling expectations, investors wonder when and how far U.S. rates will fall...

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

January 2024 / INVESTMENT INSIGHTS

Putting cash to work in 2024

We explore three possible scenarios as U.S. interest rates peak

By Christina Noonan, Som Priestley & Douglas Spratley

January 2024 / INVESTMENT INSIGHTS

Attractive yields but narrow spreads: The credit dilemma

Attractive yields but narrow spreads: The...

By Arif Husain

Arif Husain Head of International Fixed Income and Chief Investment Officer, Fixed Income

Q4 Show

November 2023 / INVESTMENT INSIGHTS

Avoiding false signals in wait for peak U.S. Treasury yields

Avoiding false signals in wait for peak U.S....

A framework can be useful for evaluating whether U.S. Treasury yields have peaked

By Arif Husain

Arif Husain Head of International Fixed Income and Chief Investment Officer, Fixed Income

November 2023 / VIDEO

Implications for Bonds in Energy Cycle Transitions

Our credit analysts collaborate to help obtain a fuller picture of the credit environment...

By Justin Gerbereux, Elliot Shue & Mike Hyland

October 2023 / INVESTMENT INSIGHTS

Government Bond Issuance Boom to Pressure Yields Higher

Government Bond Issuance Boom to Pressure...

A flood of new global sovereign debt will affect market dynamics.

By Arif Husain

Arif Husain Head of International Fixed Income and Chief Investment Officer, Fixed Income

Q3 Show

September 2023 / INVESTMENT INSIGHTS

Using Artificial Intelligence to Enhance Our Investment Processes

Using Artificial Intelligence to Enhance...

Driving deliberate innovation with artificial intelligence tools to boost human decision-m...

By Robert W. Sharps

Robert W. Sharps Chief Executive Officer and President

September 2023 / INVESTMENT INSIGHTS

The Fairy Tale of a Soft Landing

The consensus view shift toward a mild downturn looks misplaced.

By Arif Husain

Arif Husain Head of International Fixed Income and Chief Investment Officer, Fixed Income

August 2023 / VIDEO

A new era of Gulf aid: potential winners and losers

A new era of Gulf aid: potential winners...

A new era of Gulf aid could emerge—which countries could potentially benefit, and...

By Razan Nasser

Razan Nasser Sovereign Research Analyst, Fixed Income

August 2023 / INVESTMENT INSIGHTS

A New Fixed Income Regime—Three Active Portfolio Responses

A New Fixed Income Regime—Three Active Portfolio...

What to expect as monetary policy tightening moves closer to ending.

By Scott Solomon

Scott Solomon Co‑portfolio Manager, Dynamic Global Bond Strategy

August 2023 / INVESTMENT INSIGHTS

The Four U.S. Treasury Yield Phases of a Fed Tightening Cycle

The Four U.S. Treasury Yield Phases of a...

Portfolio managers collaborate to help shape duration positioning.

By Arif Husain

Arif Husain Head of International Fixed Income and Chief Investment Officer, Fixed Income

July 2023 / INVESTMENT INSIGHTS

From Crisis to Confidence: Spanish Banks Ready to Shine

From Crisis to Confidence: Spanish Banks...

Lessons from the Global Financial Crisis have left a stronger banking sector in Europe,...

By Rob Thomas

Rob Thomas Global Credit Analyst

March 2023 / MULTI-ASSET

Capital Market Assumptions

In-depth analysis and insights to inform your decision-making.

By T. Rowe Price

T. Rowe Price

December 2022 / INVESTMENT INSIGHTS

2023 Global Market Outlook

The Need for Agility

By Andrew McCormick, Sébastien Page & Justin Thomson

December 2022 / INVESTMENT INSIGHTS

The Outlook for Japan Remains Finely Poised

Divergent policy, relative to other major markets, has broad implications.

By Archibald Ciganer

Archibald Ciganer Portfolio Manager, T. Rowe Price Japanese Equity Strategy

December 2022 / INVESTMENT INSIGHTS

China Market Outlook 2023

“What should be” versus “What is likely to happen”

By Wenli Zheng

Wenli Zheng Portfolio Manager, China Evolution Equity Strategy

December 2022 / INVESTMENT INSIGHTS

Asian ex-Japan 2023 Market Outlook

Patiently Building Long-Term Positions

By Anh Lu

Anh Lu Portfolio Manager, Asia ex-Japan Equity Strategy

September 2022 / INVESTMENT INSIGHTS

Semiconductor Subsidies Signal Shift in U.S. Industrial Policy

Semiconductor Subsidies Signal Shift in U.S....

Focus on shoring up key supply chains likely has legs.

By Michael Pinkerton

Michael Pinkerton Washington Associate Analyst, U.S. Equity Division

September 2022 / INVESTMENT INSIGHTS

The Regime Change in Markets Demands Fresh Ideas

The Regime Change in Markets Demands Fresh...

Alpha potential is still available for those who adapt to the new paradigm.

By Justin Thomson

Justin Thomson Chief Investment Officer, International Equity

August 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

The report highlights the current views of the T. Rowe Price Asset Allocation Committee...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

August 2022 / INVESTMENT INSIGHTS

High Inflation and Rising Rates? Think Smaller Companies

High Inflation and Rising Rates? Think Smaller...

Why U.S. smaller companies may prove more resilient than many expect.

August 2022 / INVESTMENT INSIGHTS

China Property: The Endgame

Policymakers could aim to stabilize rather than reflate the sector.

By Sheldon Chan, Leonard Kwan & Anna Zhang

August 2022 / INVESTMENT INSIGHTS

High Yield Bonds Appear Well Positioned for a Recession

High Yield Bonds Appear Well Positioned for...

The sector is in better health than prior to previous downturns.

By Michael Della Vedova & Stephen Marsh

July 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

The report highlights the current views of the T. Rowe Price Asset Allocation Committee...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

July 2022 / INVESTMENT INSIGHTS

Economic Headwinds Are Proving Stronger Than Expected

Economic Headwinds Are Proving Stronger Than Expec...

The challenges facing the global economy will not abate soon.

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

July 2022 / INVESTMENT INSIGHTS

Value Has Returned to High Yield

Fundamentals are strong, and spreads are attractive.

By Stephen Marsh & Michael Della Vedova

July 2022 / INVESTMENT INSIGHTS

Reports of the Death of EM Debt Are Exaggerated

Spreads are attractive compared with other asset classes.

By Samy Muaddi & Benjamin Robins

June 2022 / INVESTMENT INSIGHTS

Russia’s Invasion of Ukraine Prompts U.S. Energy Policy Shift

Russia’s Invasion of Ukraine Prompts U.S....

The U.S. natural gas industry may enjoy some emerging policy tailwinds.

By Michael Pinkerton

Michael Pinkerton Associate Analyst

August 2022 / MONTHLY MARKET REVIEW

Global Markets Monthly Update

July 2022

July 2022 / INVESTMENT INSIGHTS

Recession Signals Flashing Yellow

Global economies are weighed down by notable headwinds.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

June 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

The report highlights the current views of the T. Rowe Price Asset Allocation Committee...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

June 2022 / MIDYEAR MARKET OUTLOOK

2022 Midyear Market Outlook

Transitioning to a New Paradigm

By Arif Husain, Justin Thomson & Sébastien Page

June 2022 / INVESTMENT INSIGHTS

Are the Clouds Set to Clear for Chinese Equities?

Embracing uncertainty and inefficiencies to focus on future drivers of growth.

By Wenli Zheng

Wenli Zheng Portfolio Manager, China Evolution Equity Strategy

June 2022 / VIDEO

A Labor Demand and Supply Imbalance Challenges the Fed

A Labor Demand and Supply Imbalance Challenges...

Labor demand has considerably outpaced supply, but the job market tightness can ease...

By Blerina Uruçi

Blerina Uruçi Chief U.S. Economist

June 2022 / INVESTMENT INSIGHTS

The Road to Net Zero

How the world is moving forward on emissions reduction.

By Maria Elena Drew

Maria Elena Drew Director of Research for Responsible Investing

June 2022 / VIDEO

What lies ahead for emerging markets?

Chris Kushlis, Chief of China and Emerging Markets Macro Strategy

By Christopher J. Kushlis

Christopher J. Kushlis Chief of China and Emerging Markets Macro Strategy

May 2022 / VIDEO

Big Pharma: Navigating a Golden Age of Innovation

Investors should focus on trends in the duration and diversity of a large-cap biopharma...

By Jeffrey Holford

Jeffrey Holford Pharmaceuticals Analyst, U.S. Equity Division

May 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

The report highlights the current views of the T. Rowe Price Asset Allocation Committee...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

May 2022 / INVESTMENT INSIGHTS

Economic Risks Are Rising

High inflation and economic weakness could stifle global economy.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist, Multi.Asset Division

May 2022 / INVESTMENT INSIGHTS

The Russia-Ukraine War Will Bring Europe to the Brink of Recession

The Russia-Ukraine War Will Bring Europe...

Mitigating factors may still prevent it, however.

By Tomasz Wieladek

Tomasz Wieladek International Economist

May 2022 / VIDEO

What a Rough Quarter for Bonds Means for Asset Allocators

What a Rough Quarter for Bonds Means for...

By Sébastien Page & Timothy C. Murray

May 2022 / INVESTMENT INSIGHTS

No, We Are Not About to Return to 1970s-Style Inflation

No, We Are Not About to Return to 1970s-Style...

Today’s central banks are willing and able to tackle the problem.

By Nikolaj Schmidt

Nikolaj Schmidt Chief International Economist

April 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

The report highlights the current views of the T. Rowe Price Asset Allocation Committee...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

April 2022 / INVESTMENT INSIGHTS

Three Harbingers Point to a U.S. Recession

History suggests it may not be imminent, however.

By Multiple Authors

April 2022 / MARKETS & ECONOMY

Volatility Spikes May Not Be Good Sell Signals

Better for investors to stay calm in times of market turbulence.

By Nathan Wang & Thomas Poullaouec

April 2022 / INVESTMENT INSIGHTS

Asset Allocation in the Era of High Inflation

Responding to changing growth and inflation dynamics.

By Wenting Shen

Wenting Shen Portfolio Manager, Global Multi‑Asset Team

April 2022 / INVESTMENT INSIGHTS

A Closer Look at Inflation and the “Value Rally”

A Closer Look at Inflation and the “Value...

Discovering new ideas that deliver value

By David J. Eiswert

David J. Eiswert Portfolio Manager

April 2022 / INVESTMENT INSIGHTS

U.S. Fiscal Stimulus Takeaways for Investors

U.S. Fiscal Stimulus Takeaways for Investors...

Timing, scale, and targets of new spending are key considerations.

By Katie Elizabeth Deal

Katie Elizabeth Deal Washington Analyst U.S. Equity Division

April 2022 / INVESTMENT INSIGHTS

Parallels to the 1973 Market Shocks May Be Imprecise

Parallels to the 1973 Market Shocks May Be...

Recession in U.S. appears unlikely amid reopening economy.

By Sébastien Page & Cesare Buiatti

April 2022 / INVESTMENT INSIGHTS

Why It’s Not Yet Time to Add Credit Risk

Despite cheaper valuations, a rally does not seem imminent.

By Kenneth A. Orchard

Kenneth A. Orchard Portfolio Manager

April 2022 / MULTI-ASSET STRATEGY

Most Central Banks Have No Choice But to Remain Hawkish

Most Central Banks Have No Choice But to...

Few have the scope to loosen policy if economic conditions worsen.

By Nikolaj Schmidt

Nikolaj Schmidt Chief International Economist

April 2022 / INVESTMENT INSIGHTS

Investing Globally May Boost Yields as Rates Rise

Investing Globally May Boost Yields as Rates...

Home bias could mean key opportunities are missed.

By Michael Walsh

Michael Walsh Multi‑Asset Solutions Strategist

March 2022 / INVESTMENT INSIGHTS

Long-Dated Credit Can Boost Returns in a Tightening Environment

Long-Dated Credit Can Boost Returns in a...

Shorter-dated bonds are typically hit harder by rising inflation and low growth.

By Kenneth A. Orchard & Onur Uncu

March 2022 / INVESTMENT INSIGHTS

Making Sense of the Sell-Off, Then Rally in Chinese ADRs

Making Sense of the Sell-Off, Then Rally...

Concerns about delistings on U.S. exchanges appear to be overblown.

March 2022 / INVESTMENT INSIGHTS

A Determined Federal Reserve Prepares for Tightening Cycle

A Determined Federal Reserve Prepares for...

We anticipate continued Treasury yield curve flattening.

March 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

The report highlights the current views of the T. Rowe Price Asset Allocation Committee...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

March 2022 / INVESTMENT INSIGHTS

Panorama

Quarterly Thought Leadership Publication

March 2022 / ECONOMICS

The Fed Embarks on a Hiking Campaign to Counter Inflation

The Fed Embarks on a Hiking Campaign to Counter...

High commodity prices, geopolitical risks complicate the Fed’s path

By Blerina Uruçi

Blerina Uruçi Chief U.S. Economist

March 2022 / INVESTMENT INSIGHTS

Long-Dated Credit Can Boost Returns in a Tightening Environment

Long-Dated Credit Can Boost Returns in a...

Shorter-dated bonds are typically hit harder by rising inflation and low growth.

By Kenneth A. Orchard & Onur Uncu

15 March 2022 / VIDEO

How We Are Positioned Against Heightened Market Risk

How We Are Positioned Against Heightened...

How We’re Positioned Against Heightened Market Risks

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO

March 2022 / INVESTMENT INSIGHTS

Assessing the ESG Implications of Russia’s Invasion of Ukraine

Assessing the ESG Implications of Russia’s...

Pressure to reduce dependence on Russian gas could expedite Europe’s energy transition

By Maria Elena Drew

Maria Elena Drew Director of Research, Responsible Investing

March 2022 / MULTI-ASSET STRATEGY

Growth Likely to Remain Under Pressure

Growing economic uncertainty could mean a bumpy road ahead.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

March 2022 / GLOBAL EQUITIES

Positioning for the Future in Global Equities

How our investment framework is adapting to the challenge of change.

By David J. Eiswert

David J. Eiswert Portfolio Manager

March 2022 / INVESTMENT INSIGHTS

Global Asset Allocation Viewpoints

Our experts share perspective on market themes and regional trends, plus insights...

March 2022 / MARKETS & ECONOMY

Reports of a Looming Recession May Be Exaggerated

The global economy is probably more resilient than you think.

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

March 2022 / EMERGING MARKETS

Implications of the Removal of Russia From MSCI Indices

Implications of the Removal of Russia From...

Russian shares to be removed from MSCI indices due to market accessibility issues.

March 2022 / EMERGING MARKETS

Key Developments to Watch in the Russia-Ukraine Crisis

Key Developments to Watch in the Russia-Ukraine...

The impact of sanctions and rising commodity prices are in focus

By Ulle Adamson, Peter Botoucharov & Samy Muaddi

March 2022 / MARKET EVENTS

The Market Implications of the Conflict in Ukraine

The Market Implications of the Conflict in...

Central banks face a more difficult task tackling inflation.

By Andrew McCormick

Andrew McCormick Head of Fixed Income and CIO

March 2022 / MULTI-ASSET OUTLOOK

Capital Market Assumptions

In-depth analysis and insights to inform your decision-making.

February 2022 / INVESTMENT INSIGHTS

For or Against? The Year in Shareholder Resolutions—2021

For or Against? The Year in Shareholder Resolution...

With environmental and social proposals in the spotlight, case-by-case insights were...

By Donna Anderson & Jocelyn Brown

February 2022 / MARKETS & ECONOMY

There Will Be Turbulence

Why this Fed hiking cycle looks different

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

February 2022 / GLOBAL FIXED INCOME

“Shoulda, Woulda, Coulda”

Adventures in global high yield

By Mark J. Vaselkiv

Mark J. Vaselkiv Chief Investment Officer, Fixed Income

February 2022 / FIXED INCOME

Five Reasons Why I’m Reducing Credit Risk

Tight spreads and hawkish central banks are a concern.

By Kenneth A. Orchard

Kenneth A. Orchard Head of International Fixed Income

February 2022 / ASSET ALLOCATION VIEWPOINT

What Pivot to Higher Rates May Mean for Stocks

Higher interest rates pose near-term challenges for stocks.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

February 2022 / EMERGING MARKETS

Making the Case for Emerging Markets

Five factors supporting EM equities on a tactical and structural basis.

By Justin Thomson, Eric C. Moffett & Malik Asif

February 2022 / GLOBAL ECONOMY

What’s Behind the Market Volatility, and What We’re Watching Next

What’s Behind the Market Volatility, and...

Further price fluctuations loom amid Fed hikes, inflation, and post‑pandemic shifts.

By Sébastien Page, Justin Thomson & Mark J. Vaselkiv

February 2022 / MARKETS & ECONOMY

Putting the Fed’s Planned Rate Hikes into Context

Putting the Fed’s Planned Rate Hikes into...

History shows that Fed hikes alone tend not to derail markets.

By Multiple Authors

February 2022 / GLOBAL FIXED INCOME

Unlocking Impact Outside of ESG-Labeled Debt

Driving real change means investors should look beyond the label.

By Matthew Lawton

Matthew Lawton Portfolio Manager

January 2022 / U.S. FIXED INCOME

Rethinking Fixed Income Allocations

Sourcing strategies with varying risk and return drivers is key.

By Saurabh Sud, Lowell Yura & Gregor T. Dannacher

January 2022 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

January 2022 / VIDEO

The Market Implications of Omicron’s Swift Surge

The Market Implications of Omicron’s Swift...

Omicron is significant, but it’s likely to move on swiftly without a large drag on...

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO

January 2022 / EMERGING MARKETS EQUITY

China Deleveraging: Domestic and Global Impacts

China Deleveraging: Domestic and Global Impacts...

A multi-year path to reducing financial risk & improving credit allocation.

By Christopher J. Kushlis

Christopher J. Kushlis Asia Sovereign Analyst, London

January 2022 / FIXED INCOME

EM Currencies Can Boost Bond Portfolios Amid Rising Inflation

EM Currencies Can Boost Bond Portfolios Amid...

Currencies of commodity-exporting countries are particularly attractive.

By Kenneth A. Orchard & Onur Uncu

January 2022 / ASSET ALLOCATION VIEWPOINT

Ten Key Insights From 2021

Despite splashy macroeconomic events, fundamentals still matter.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

January 2022 / GLOBAL ECONOMY

In With a Whimper, Out With a Bang

The investment story of 2022 will be tactical bear, structural bull.

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

December 2021 / VIDEO

Three Contrarian Investing Views on China, Stagflation, Supply Chains

Three Contrarian Investing Views on China,...

We think the market’s consensus on stagflation, supply chain shortages, and China...

By Richard de los Reyes

Richard de los Reyes Portfolio Manager

December 2021 / INVESTMENT INSIGHTS

A Digital U.S. Dollar Will Strengthen the Currency’s Global Dominance

A Digital U.S. Dollar Will Strengthen the...

A Fed-backed CBDC will dwarf those of other countries

By Tomasz Wieladek & Aadish Kumar

December 2021 / VIDEO

Two Dominant Trends Changing Fintech Stocks

By Jon Friar

Jon Friar Associate Portfolio Manager

December 2021 / ECONOMICS

The Great Inflation Debate

Have we entered a new era?

By Justin Thomson

Justin Thomson Head of International Equity and CIO

December 2021 / GLOBAL MARKET OUTLOOK

Playbook for a Shifting Economic Landscape

Looking for Growth in Challenging Markets

By Sébastien Page, Justin Thomson & Mark J. Vaselkiv

December 2021 / MULTI-ASSET STRATEGY

Revisiting Inflation Concerns

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

December 2021 / GLOBAL FIXED INCOME

Why Impact Investing Needs Public Debt Markets

Their size and diversified nature can foster long-term change.

By Matthew Lawton

Matthew Lawton Portfolio Manager

December 2021 / GLOBAL EQUITIES

Asia ex-Japan 2022 Market Outlook

Risk/reward looks attractive for Asia ex‑Japan equities.

By Anh Lu

Anh Lu Portfolio Manager

December 2021 / INTERNATIONAL EQUITIES

China Market Outlook 2022

Attractive opportunities amid China’s fast-changing environment.

By Wenli Zheng

Wenli Zheng Portfolio Manager, China Evolution Equity Portfolio

December 2021 / JAPAN EQUITIES

2022 Outlook—Prospects for Japan Look Bright

Highly open market expected to benefit from global economic recovery.

By Archibald Ciganer

Archibald Ciganer Investment Analyst

November 2021 / U.S. EQUITIES

Above-Trend U.S. Growth Could See Smaller Companies Shine

Above-Trend U.S. Growth Could See Smaller...

U.S. smaller companies and a strong domestic recovery are closely aligned.

By Curt J. Organt

Curt J. Organt Co-Portfolio Manager

November 2021 / U.S. GOVERNMENT POLICY

U.S. Infrastructure Bill Could Strengthen Secular Trends

U.S. Infrastructure Bill Could Strengthen...

Investors should remain selective and focus on fundamentals.

By Katie Elizabeth Deal

Katie Elizabeth Deal Investment Analyst

November 2021 / U.S. FIXED INCOME

Higher Long-Run Inflation Outlook Makes TIPS Exposure Key

Higher Long-Run Inflation Outlook Makes TIPS...

Price rises to slow, but inflation likely to stay relatively high.

By Mike Sewell & Elliot Shue

November 2021 / POLICY INSIGHTS

The Bond Market Has Woken Up From a Deep Slumber

The Bond Market Has Woken Up From a Deep...

Heightened volatility reflects a changed reality.

By Multiple Authors

November 2021 / GLOBAL EQUITIES

Higher Oil Prices Unlikely to Prove Sustainable

Supply response and productivity gains should pressure prices.

By Shinwoo Kim

Shinwoo Kim Portfolio Manager

November 2021 / ECONOMICS

China Remains Compelling Despite Regulatory Upheavals

China Remains Compelling Despite Regulatory...

Understanding the government’s social agenda is key

By Christopher J. Kushlis & Justin Thomson

November 2021 / INVESTMENT INSIGHTS

Change in Political Leadership and the Outlook for Japan

Change in Political Leadership and the Outlook...

Prospects for stocks look bright amid expected policy continuity

By Archibald Ciganer

Archibald Ciganer Investment Analyst

November 2021 / POLICY INSIGHTS

Central Banks Diverge in Response to Inflation

How differences are creating opportunities in fixed income.

By Multiple Authors

November 2021 / INVESTMENT INSIGHTS

Supply Bottlenecks May Be Peaking

Data suggest that supply chain issues may have stopped getting worse

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

November 2021 / MULTI-ASSET STRATEGY

Benchmark Aware or Agnostic?

A practical guide on which investment approach may best suit you.

By Thomas Poullaouec

Thomas Poullaouec Head of Multi-Asset Solutions APAC

November 2021 / BLOG

Volatility Looms as Support Is Withdrawn

The supportive business cycle will likely provide opportunities, however.

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

October 2021 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

October 2021 / FIXED INCOME

Rich Valuations Balance Healthy Credit in Global High Yield

Rich Valuations Balance Healthy Credit in...

Credit analysis can expose value even amid tight credit spreads

By Michael Connelly

Michael Connelly Portfolio Manager

October 2021 / MARKET OUTLOOK

Growth Delayed but Not Derailed

Opportunities still lie ahead for firms and investors

By Robert W. Sharps

Robert W. Sharps Chair of the Board, Chief Executive Officer and President

October 2021 / INVESTMENT INSIGHTS

Rising Inflation Risk and How to Address It

Rising Inflation Risk and How to Address...

Whether temporary or not, price rises cannot be ignored.

By Yoram Lustig & Michael Walsh

October 2021 / INVESTMENT INSIGHTS

The U.S. Value Stock Rally—Expect a Shift to Quality

The U.S. Value Stock Rally—Expect a Shift...

Higher-quality value stocks set to lead the next stage

By Eric Papesh

Eric Papesh Portfolio Specialist

October 2021 / MARKETS & ECONOMY

Banks Set to Play Critical Role in Climate Change Fight

Banks Set to Play Critical Role in Climate...

Transition to a low-carbon economy brings lending risks and opportunities

By Maria Elena Drew & Joseph Baldwin

September 2021 / INVESTMENT INSIGHTS

Innovations in Sustainability Are Reshaping the Future of Plastic

Innovations in Sustainability Are Reshaping...

Balancing health and environmental concerns with the material’s utility

By Maria Elena Drew

Maria Elena Drew Director of Research, Responsible Investing

September 2021 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

September 2021 / POLICY INSIGHTS

Confronting the Challenges of Persistent Transitory Inflation

Confronting the Challenges of Persistent...

How to position against potential inflation risks in fixed income.

By Multiple Authors

September 2021 / INVESTMENT INSIGHTS

Controlled Deflation of the China Property Debt Balloon

Controlled Deflation of the China Property...

Beijing’s policy actions in the property sector seem to be containing any potential...

By Sheldon Chan & Anna Zhang

September 2021 / INVESTMENT INSIGHTS

China – Too Big to Ignore?

China’s development is recognised as one of the most important shifts in the global...

By Irmak Surenkok & Robert Secker

September 2021 / INVESTMENT INSIGHTS

The Cycle—Where Are We? Implications for Global Equity Investors

The Cycle—Where Are We? Implications for...

Complex environments need active management to help steer portfolios in the right...

By David J. Eiswert

David J. Eiswert Portfolio Manager

September 2021 / INVESTMENT INSIGHTS

Should Rising Inflation Be a Concern?

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

August 2021 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

17 August 2021 / EMERGING MARKETS

Is the Value Rally in Emerging Markets Sustainable?

Is the Value Rally in Emerging Markets Sustainable...

Value investing is coming in from the cold.

By Ernest C. Yeung

Ernest C. Yeung Portfolio Manager

August 2021 / MARKETS & ECONOMY

How 2021 Is Shaping as an Epic Year for Climate Regulation

How 2021 Is Shaping as an Epic Year for Climate...

Momentum on emissions targets builds ahead of COP26 conference

By Maria Elena Drew

Maria Elena Drew Director of Research, Responsible Investing

August 2021 / INVESTMENT INSIGHTS

Sticking With Value

Despite strong fundamentals, growth stock valuations are extreme

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

August 2021 / INVESTMENT INSIGHTS

Biden Signals Government-Wide Push to Promote Competition

Biden Signals Government-Wide Push to Promote...

But changing rules and laws isn’t easy and would take time

By Katie Elizabeth Deal

Katie Elizabeth Deal Investment Analyst

August 2021 / INVESTMENT INSIGHTS

How Digital Currencies Add Policy Potency for Emerging Markets

How Digital Currencies Add Policy Potency...

More monetary policy control as rate decisions have a broader impact

By Tomasz Wieladek & Aadish Kumar

August 2021 / MARKETS & ECONOMY

China Regulation—Opportunity May Lie in the Midst of Stock Sell-Off

China Regulation—Opportunity May Lie in the...

We are assessing potential winners and losers amid new regulations in the education...

By Irmak Surenkok & Charles Knudsen

July 2021 / INVESTMENT INSIGHTS

Panorama

Quarterly Thought Leadership Publication

July 2021 / INVESTMENT INSIGHTS

How ESG Considerations are Reshaping Central Bank Mandates

How ESG Considerations are Reshaping Central...

Moving toward integrating social and environmental issues

By Arif Husain

Arif Husain Head of Global Fixed Income and CIO

July 2021 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

July 2021 / MARKETS & ECONOMY

Growth Stocks Unlikely to Be Troubled by Short-Term Inflation Spike

Growth Stocks Unlikely to Be Troubled by...

A sharp rise in U.S. inflation is not expected to last

By Taymour Tamaddon

Taymour Tamaddon Portfolio Manager, US Large Cap Growth Equity Strategy

July 2021 / INVESTMENT INSIGHTS

Cryptocurrencies May Transform Capital Markets

Speculation is extraordinary, but so is potential

By Robert W. Sharps & Sébastien Page

July 2021 / MARKETS & ECONOMY

Into Choppier Waters

The serenity of equity markets is deceptive

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

15 July 2021 / GLOBAL EQUITIES

Why This "Value" Recovery May Have Only Just Begun

Why This "Value" Recovery May Have Only Just...

Economic recovery and earnings momentum set to sustain the rotation back to value.

By Sebastien Mallet

Sebastien Mallet Portfolio Manager

July 2021 / INVESTMENT INSIGHTS

Japan Ups the Ante on Corporate Governance and Regulatory Reform

Japan Ups the Ante on Corporate Governance...

Revised governance codes provide framework for corporate improvement

By Archibald Ciganer

Archibald Ciganer Investment Analyst

June 2021 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

June 2021 / INVESTMENT INSIGHTS

Constructing a Chinese Equities Portfolio

Seek to exploit market inefficiencies and extract value from the investment universe

By Irmak Surenkok

Irmak Surenkok Portfolio Specialist

June 2021 / MIDYEAR MARKET OUTLOOK

China 2021 Market Update

On a steady path to normalization.

By Wenli Zheng

Wenli Zheng Portfolio Manager

June 2021 / INVESTMENT INSIGHTS

Surging Home Prices May Lead to Rate Hikes

The return of housing as an economic driver gives the Fed options.

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

June 2021 / MARKET OUTLOOK

Positioning for a New Economic Landscape

Recovery is on track, but inflation pressures create risks

By Robert W. Sharps, Justin Thomson & Mark J. Vaselkiv

June 2021 / INVESTMENT INSIGHTS

Panorama

Quarterly Thought Leadership Publication

May 2021 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

May Insights: Current views of the T. Rowe Price Asset Allocation Committee across...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

May 2021 / VIDEO

What Does Our Underweight to Stocks Really Mean?

What Does Our Underweight to Stocks Really...

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO

May 2021 / EMERGING MARKETS

What's Next for China's Geopolitical Relations?

Tensions remain elevated, but expect a return to more multilateral negotiations.

By Katie Elizabeth Deal & Christopher J. Kushlis

May 2021 / VIDEO

Are Rising Rates Good or Bad for Stocks?

Rising rates could present a dilemma for stock investors.

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO

May 2021 / INVESTMENT INSIGHTS

What’s Next for Value Stocks

Value stocks have rallied, but we see the potential for more upside

By John D. Linehan

John D. Linehan Portfolio Manager

April 2021 / ENVIRONMENTAL, SOCIAL, AND GOVERNANCE

Diversity, Equity, and Inclusion in the Spotlight

From tragedy comes unity and a commitment to improve.

By Donna Anderson & Maria Elena Drew

April 2021 / INVESTMENT INSIGHTS

Implied Support: A Supporting Actor, Not the Lead Role in Asia Credit

Implied Support: A Supporting Actor, Not...

Rising defaults amongst Chinese state-owned enterprises (SOEs) reaffirms importance...

By Sheldon Chan, Lyris Xu & Christopher J. Kushlis

April 2021 / GLOBAL ASSET ALLOCATION

Global Asset Allocation Viewpoints and Investment Environment

Global Asset Allocation Viewpoints and Investment...

April Insights: Current views of the T. Rowe Price Asset Allocation Committee across...

By Thomas Poullaouec, Wenting Shen & Hajime Takigawa

April 2021 / ENVIRONMENTAL, SOCIAL, AND GOVERNANCE

Navigating a Landscape of Interlinked Crises

Opportunities presented by public policy in the Biden era

By Katie Elizabeth Deal

Katie Elizabeth Deal Investment Analyst

April 2021 / MULTI-ASSET SOLUTIONS

Inflation Likely to Accelerate: A Non-consensus View

Inflation Likely to Accelerate: A Non-consensus...

Aggressive stimulus and labor market tightening mean higher inflation risk

By Richard Coghlan & Christopher Faulkner-MacDonagh

April 2021 / INVESTMENT INSIGHTS

Five Forces in International Equities Investors May Be Underestimating

Five Forces in International Equities Investors...

China, Japan, technology, and value have potential to shape global markets in 2021...

By Justin Thomson

Justin Thomson Head of International Equity and CIO

April 2021 / INVESTMENT INSIGHTS

This Inflationary Heat Wave Should Prove Temporary

This Inflationary Heat Wave Should Prove...

Strong growth is unlikely to spark a new inflationary regime.

By Alan Levenson

Alan Levenson Chief U.S. Economist

April 2021 / MARKETS & ECONOMY

Leveraging a Diversity of Perspectives on Rising Rates

Leveraging a Diversity of Perspectives on...

An unusual rebound may provide opportunities even as rates rise

By Robert W. Sharps

Robert W. Sharps Chair of the Board, Chief Executive Officer and President

19 March 2021 / MULTI-ASSET OUTLOOK

Capital Market Assumptions

March 2021 / INVESTMENT INSIGHTS

Why Credit Investors Need to Become Active Duration Managers

Why Credit Investors Need to Become Active...

The importance of duration for credit performance and five ways to improve it

By Kenneth A. Orchard & Steve Boothe

March 2021 / INVESTMENT INSIGHTS

Pleasant Recession, Unpleasant Recovery

Weak pent-up demand will likely prevent a post-COVID boom

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

March 2021 / INVESTMENT INSIGHTS

China’s Economy: Recovery and Rebalancing

Emerging from the pandemic, an encouraging pathway for China’s economy

By Christopher J. Kushlis

Christopher J. Kushlis Asia Sovereign Analyst, London

March 2021 / VIDEO

Five Macro Themes in Equity Markets to Watch Now

Focusing on a post COVID world, capex recovery, lagging growth stocks, UK equities,...

By Richard de los Reyes

Richard de los Reyes Portfolio Manager

March 2021 / INVESTMENT INSIGHTS

Has the Fed Turned Hawkish by Allowing Bond Yields to Surge?

Has the Fed Turned Hawkish by Allowing Bond...

It seems happy to let financial market conditions tighten.

By Nikolaj Schmidt

Nikolaj Schmidt Chief Global Economist

March 2021 / INVESTMENT INSIGHTS

For or Against? The Year in Shareholder Resolutions

For or Against? The Year in Shareholder Resolution...

With environmental and social proposals in the spotlight, case-by-case insights were...

By Donna Anderson

Donna Anderson Global Head of Corporate Governance

February 2021 / INVESTMENT INSIGHTS

When Emerging Market Debt Dances to the Inflation Tune

When Emerging Market Debt Dances to the Inflation...

How higher oil prices could impact inflation and the asset class

By Arif Husain & Kenneth A. Orchard

February 2021 / INVESTMENT INSIGHTS

The “In-Between,” the “New Normal,” and What’s Next…

The “In-Between,” the “New Normal,” and What’s...

Tracking the course for global equites to a post-COVID-19 world.

By David J. Eiswert

David J. Eiswert Portfolio Manager

February 2021 / INVESTMENT INSIGHTS

The Challenge of Low but Rising Rates

Searching for Yield Amid Rising Rates.

By Timothy C. Murray

Timothy C. Murray Capital Markets Strategist

January 2021 / VIDEO

Three Reasons to Favor Floating Rate Loans in Today's Market

Three Reasons to Favor Floating Rate Loans...

By Sébastien Page

Sébastien Page Head of Global Multi-Asset and CIO