Industry news and views from Panacea and our partners.
BNY Investments
BNY: Time to Allocate to Fixed Income
Income-based returns are back, and investors no longer need to risk equity-type drawdowns or sacrifice liquidity to achieve their investment objectives. In our view, it is an opportune time to increase fixed income allocations.
BNY: 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.
BNY: 6 FOR 2026
Investors are navigating markets that feel familiar yet fundamentally different. Growth is uneven but still has room to run. AI is transforming productivity, yet its impact on profits is still being tested. Meanwhile, rates across the globe are moving in different directions.
BNY: Managing risk and volatility in multi-asset
BNY Investments Newton FutureLegacy portfolio manager, Paul Byrne discusses how multi-dimensional research and an active, dynamic approach to portfolio management helps deliver diversification and manage volatility within target managed bands.
BNY: The debt vs. growth dilemma: a multi-asset perspective
BNY Investments Newton multi-asset managers Simon Nichols and Janice Kim tour the US, Europe, UK and China, pinpointing how each market’s nuances are shaping their multi-asset strategy positioning.
BNY: Bullish on Fed easing?
As expected, the Federal Open Market Committee delivered another 25-basis point rate cut. Investors are now focused on the pace of cuts from here. However, the more important driver of future equity returns is whether the Fed is easing into an economy that is growing or not.
BNY: Bubble or is this market different?
The S&P 500 is up 14% year to date after gaining more than 20% annually over the past couple of years. Valuations are certainly elevated, but we believe the market is in a new world where higher multiples are normal rather than stretched.
BNY: Global Equity Income: over and underweights
Jon Bell, global income portfolio manager at BNY Investments Newton, discusses the largest over and underweight positions in the BNY Mellon Global Income portfolio.
Recalculating Route: At the Table with BNY
BNY's commitment to insight and perspectives comes to life through our investment and market leaders who gather quarterly to debate the key issues shaping markets today.
BNY: Short-dated credit: yield and low volatility?
Is there a way of accessing the attractive yield of global investment grade credit with lower volatility? This is a question that Insight Investment increasingly hears from risk-constrained investors as cash rates fall.
BNY: Is AI a bubble?
In this video, BNY Investments Newton global income portfolio manager, Jon Bell assesses whether artificial intelligence (AI) is a bubble and outlines some potential ways to diversify exposure to the large tech players in the space.
BNY: Why we’re overweight healthcare
In this video, BNY Investments Newton global income portfolio manager, Jon Bell discusses some of the reasons for overweighting healthcare despite the sector’s recent challenges.
BNY Mellon Global Credit Fund Q3 2025 update
Watch a quarterly Fund update with April LaRusse: Head of Fixed Income Specialists at Insight Investment.
Good news on inflation?
Last week’s Consumer Price Index report, a widely used indicator of inflation in the U.S. economy, showed growth of 3% in September, which was above 2.9% in August but less than expected. Despite the modest increase, various categories have shown signs of stabilization. What does this mean for inflation going forward?
BNY: Global fixed income: favourable conditions
Global sovereign bonds with currency-hedged exposure may present an attractive tactical investment opportunity amid ongoing uncertainty, according to the BNY Investment Institute. With interest rate differentials currently favouring the US and developed market (DM) government bond yields elevated, the environment supports a positive outlook for fixed income investors seeking income and risk diversification.
BNY: Earnings improvement is broadening
Earnings growth is on investors’ minds, especially as it broadens beyond the big tech stocks that have shown the most improvement in the past. We believe this is a positive sign for continued equity gains.
BNY: Is Big Tech Overvalued?
It’s true that the S&P 500 currently exhibits high valuations, with the technology sector alone comprising over 40% of its market capitalization and driving concerns about valuations. Are those high multiples justified?
BNY: 4 reasons to get active in credit markets
As part of a new report “Global Credit: Uncovering opportunity and capturing value”, Insight Investment outlines why the time is now to harness value opportunities in credit markets.
BNY: Managing risk in MADR
BNY Investments Newton head of mixed assets investment, Paul Flood explains how the team is addressing the risks around strong equity market performance and the high gold price.
BNY: Optimism grows among small businesses
Small businesses are becoming more optimistic, a positive indication at a time when economists are debating whether growth will slow. We view this confidence as a positive signal for future growth.
BNY: Why Active Management Leads the Way in Fixed Income Investing
While passive equity funds have become a staple in many portfolios, passive fixed income strategies have yet to gain the same traction among UK financial advisers and wealth managers. Our latest BNY Insight Fixed Income report reveals why active management remains the preferred choice for 64% of fixed income allocations.
BNY: Global credit: Opportunity in a world of unpredictability
Fixed income was challenged in 2022 due to inflation and rising rates, causing historic losses. But Insight Investment head of global credit, Adam Whiteley believes current high bond yields offer strong compound return potential, especially for active managers.
BNY: Shifting Gears
Experts from across BNY gathered to debate markets. Take a seat at the table, through this report, which shares key views from the discussions.
BNY: FOMC tipping point: What's the Fed’s next move?
Uncertainty around tariffs, inflation and interest rates has been looming for months. Meanwhile, the Federal Reserve (the Fed) left rates unchanged at its July meeting, to the surprise of market observers. So, the question remains — what’s the Fed’s next move? The BNY Investment Institute considers the factors influencing the central bank's path ahead.
BNY: The legacy of 2022
Investors will remember 2022 as an annus horribilis in which the correlation benefits of an equity and bond portfolio fell apart. But one positive from that episode has been a more nuanced understanding among advisers of portfolio diversification, especially in a period of structurally higher inflation and interest rates. Here, we draw on findings from our fixed income research to understand what lessons advisers learned from 2022 and how their attitude towards fixed income is changing as a result.
BNY: Positive signals from capex?
The One Big Beautiful Bill Act’s provision regarding the full expensing of capital expenditures is already having an impact on companies’ investment plans. We believe this a positive signal for economic growth.
BNY: Cuts are coming
Last Friday, Federal Reserve Chair Jerome Powell described a shift in the balance of employment and inflation risks, and the market rallied on the news. For us, nothing has changed. We have been closely monitoring the labor market and indicators of inflation, and we continue to expect two rate cuts this year.
BNY: Higher margins drive robust earnings
Second quarter earnings season is winding down. Nearly all companies have reported, and the majority beat expectations as margin estimates continue to rise.
BNY: Keeping Tabs on Tariffs
A look at the tale of tariffs for the first half of 2025 and how this might be impacting markets in the UK.
BNY: Earnings season wrapping up on a high note
Second quarter earnings season is winding down, but earnings are up, and better than expected. Despite some potentially concerning signals from the real economy, including muted job gains, and possible seasonal volatility, we remain constructive on equities. A positive second quarter earnings season strengthens our conviction.