Growth remains resilient, inflation has returned, and bonds are once again paying investors to be patient.
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We are pleased to share our Q4 2026 Quarterly Investment Perspective, Paid to Wait.
The investment landscape has shifted again. Economic growth and corporate earnings have remained resilient, but renewed inflationary pressures and higher interest rates have pushed government bond yields to levels not seen for many years.
For investors, that creates an interesting change in the balance between risk and reward. High quality bonds are once again offering meaningful income, allowing us to remain patient rather than feeling compelled to chase increasingly expensive assets.
In this quarter's Perspective, our Chief Investment Officer, Eric Silvestre, looks at the resilience of corporate earnings, changing interest rate expectations, the pause in broader equity market participation, and why we are becoming increasingly constructive on high quality fixed income.