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3 April 2026
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Neuberger Berman's investment leaders break down the macro environment and its implications for equities, fixed income, and private markets in 2026, including policy crosscurrents, AI, and where to position now.
The U.S. banking industry is entering a new era in which regulated banks and private lenders are increasingly intertwined. We believe this trend will continue to open attractive opportunities for dynamic allocation across the credit spectrum.
As global economic conditions shift, investors are finding new opportunities in fixed income markets. U.S. investment grade bonds offer less value compared to bonds in Europe and elsewhere; and while high-yield bonds merit consideration, caution is advised.
The Fed could soon be prompted to join other central banks in cutting interest rates. This would have ripple effects across global fixed income markets and provide an especially attractive backdrop for emerging market bonds.
The Trump administration’s announced tariffs have introduced new turbulence to the markets as investors seek to assess the possible ramifications across economies and asset classes.
The US tariff and trade disruptions have already prompted strength-building and pro-growth policy action in Europe, leading NB's Asset Allocation Committee to upgrade its view on the European market while maintaining a balanced view on overall asset allocation.
Stay on top of the latest changes to superannuation rates and thresholds for 2026, including increases to transfer balance cap, concessional contributions cap, and non-concessional contributions cap.
In a shift away from solely targeting low inflation, central banks are considering raising inflation targets to combat economic challenges, but face potential drawbacks and conflicts in policy implementation.
The perceived underperformance of LICs compared to ETFs is due to existing comparison data excluding crucial information, highlighting the need for proper assessment and transparent reporting.
New research shows smarter portfolio construction—not new factors—is the real edge in the hunt for alpha. However, finding it requires a fundamentally different mindset.
Many 'diversified' portfolios are increasingly driven by the same narrow set of forces. As concentration builds beneath the surface, understanding how portfolios behave - not just how they’re constructed - is critical for investors.
Rising oil prices and inflation pushed Australian yields higher. Markets expect further tightening, but weaker growth may reverse rates. Locking income and maintaining duration is a sound strategy for widening credit spreads.
Investors often focus on front-of-mind risks, reacting to each headline event without considering long-term impacts. Cass Sunstein and Timur Kuran define this as an "availability cascade," affecting financial decision-making.