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Stanza | fragility, resilience and innovation

Read Stanza: we explore market instability, unpack opportunities to innovate in retirement income and offer perspectives on foundational changes reshaping markets such as longevity, tokenisation and AI.
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Changing economic orders

Deglobalisation, fiscal dominance and demographic change point to a world of greater volatility, higher inflation risk, and wider cross‑country divergence.
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Opportunities and misperceptions in fixed income

Peter Bentley, Global Head of Fixed Income, discusses current opportunities and misperceptions in fixed income.
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Assessing European energy dependence

The global economic order is changing. Old assumptions no longer hold, and new risks and opportunities are emerging.
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Global Perspectives

Fixed income

Changing economic orders

Economic systems are not static. They evolve in response to shocks, constraints and political choices, and history shows that dominant economic orders eventually give way to new frameworks.

In Changing Economic Orders, Insight’s Global Macro Research team argues that the limits of both monetary and fiscal policy are now being tested simultaneously, increasing the likelihood of recurring crises and accelerating a transition away from the neoliberal model that has shaped markets for the past four decades.

09 Apr 2026 5-7 min read

Fixed income

Opportunities and misperceptions in fixed income

Peter Bentley, Global Head of Fixed Income, discusses current opportunities and misperceptions in fixed income.

26 Mar 2026 5-7 min read

Fixed income

Assessing European energy dependence

The global energy landscape has shifted. What were once considered tail risks are now recurring features of the macro environment, with recent disruptions highlighting the structural vulnerabilities created by energy import dependence.

Our latest Global Macro Research explores how energy shocks are transmitted through inflation, growth and fiscal dynamics, and why energy resilience is emerging as a key differentiator across sovereign markets.

13 May 2026 5-7 min read

Fixed income

Digital assets are moving beyond experiment

Digital assets are moving beyond experiment and into institutional reality.

Tokenised money market funds, digital cash, and on‑chain representations of traditional assets are no longer theoretical – they are live, regulated, and beginning to influence how capital is allocated, settled and mobilised.

01 May 2026 5-7 min read

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Market viewpoints

May 2026

In a world of energy shocks, we back US credit

Looking across global credit markets, we believe Europe remains more exposed to higher energy prices than the US in our view, leaving us neutral on European credit in the near term. The longer the conflict persists, the greater the drag on European growth, increasing the likelihood that markets demand a higher risk premium should fundamentals deteriorate as we expect. This vulnerability is compounded by the ECB’s relatively narrow focus on inflation, which limits its flexibility to ease policy in the face of a combined growth and energy shock, particularly when compared with the Fed’s broader mandate.

Adam Whiteley Head of Global Credit
Markets are recalibrating to a higher-for-longer policy backdrop

The conflict in the Middle East has pushed up absolute yields in investment grade credit, and we believe this presents an opportunity to add to US credit holdings. Fundamentals remain resilient, with double digit earnings growth and elevated levels of supply being met by strong demand. Although we’re wary that M&A risks are rising at this point in the cycle, we believe free cash flows are high enough to offset an upward creep in leverage levels.

Erin Spalsbury Head of US Investment Grade Credit
Time to buy select issuers impacted by higher energy prices

With growth concerns elevated, municipal bonds have been caught up in broader market volatility, pushing absolute yields higher. Those sectors exposed to higher energy costs have moved into focus, including airports, toll roads, seaports and utilities. When selling becomes indiscriminate, fundamentals are often ignored. We believe this is an ideal backdrop for active investors with strong credit research teams who can hunt out issuers offering robust liquidity and operating flexibility even in a world of higher energy prices.

Jeff Burger Senior Portfolio Manager