Insights
Equity Market Outlook
Equity Market Outlook 4Q 2024
Despite a slowing U.S. economy, we reaffirm many of our Q3 recommendations and think the odds of an imminent recession remain low.CIO Weekly Perspectives
The Fed “Recalibrates” to Buy Some Insurance
Rate-cutting cycles have tended to favor risk assets, so it was gratifying to see the central bank get started with a meaningful move.Insights
Technology Runs Through Asia
Across the “Golden Triangle” and beyond, Asian companies are forming a foundation for global technological growth and development.Podcast
Amid the Volatility: What Are Investors’ Best Options?
(22:19) What are investors Options? Sitting down with Derek Devens, Senior Portfolio Manager of the Neuberger Berman Options Group to discuss this fearless sector.Insights
The U.S. Election and Energy: More Than Meets the Eye
The presidential candidates have well-known policy profiles on energy, but how could they translate in the real world?CIO Weekly Perspectives
Why Japan Bounced Back
A huge market shock and a prime Minister heading for the exit—does any of what happened in August affect the long-term investment story for Japan?Podcast
Let the [Micro] Chips Fall Where They May
(17:09) Unpacking the influence of the Asia Equities market as it relates to big tech with Eileen FurukawaCIO Weekly Perspectives
It’s Hard to Relax
It’s time for a well-deserved, late-summer breather, yet geopolitical tensions continue to mount.Podcast
Elections, Equities and the Economy
(19:30) Does it matter if elections are close?Asset Allocation Committee Outlook
Policy and Politics
The first-quarter inflation bump is behind us, but we believe the risks of monetary policy errors and electoral surprises have risen.CIO Weekly Perspectives
High-Vol Politics, Low-Vol Markets
Are markets calm because of electoral unpredictability, rather than despite it?Equity Market Outlook
Equity Market Outlook 3Q 2024
We remain constructive on stocks amid tentative signs of a broadening market.CIO Weekly Perspectives
The Importance of Active Ownership
Shareholder engagement is for life, not just for proxy-voting season.Podcast
The Wonders of Japan’s Economy
(19:03) As things are looking brighter for Japan’s economy, what opportunities could be in store?White Paper
The Equity Breakdown: Parsing the Key Debate in Five Sectors
Five of our senior equity analysts weigh in on the crucial conversation in each of their sectors.White Paper
The Pitfalls of Investing In Factor Indices
Factor indices are a far cry from “passive” investing and may be ill-designed to deliver optimal risk-adjusted returns.Podcast
What’s Up in the Air?
(18:17) As the airline sector has returned from years of COVID travel lags, we explore what has happened amid its journey to recovery and discover what else has transpired in the process...Asset Allocation Committee Outlook
Breadth and Balance
The economic outlook may have improved, but we believe large parts of the credit and equity markets are fully valued.Equity Market Outlook
Extreme Distortions Everywhere: A Moment for Active Management
Powerful investment themes, such as AI, can capture the market’s collective imagination and we believe can create opportunities for tremendous wealth. Taken to an extreme, however, they can also trigger distortions across and within the markets.Insights
Breadth and Balance
The economic outlook may have improved, but large parts of the credit and equity markets are fully valued.CIO Weekly Perspectives
Broaden Your Investment Horizons
It may be time to look beyond the U.S. for equity market performance, especially if early signs of a cyclical economic recovery persist.Insights
Japan Enters a New Era
We explore Japan’s revival, corporate reforms and where its equity opportunities may emerge next.CIO Weekly Perspectives
Earnings Remain Key in a Confusing Macro Picture
Macro uncertainty is high, but the earnings season has been solid—and not only in the U.S.Insights
The Importance of Monitoring Credit Spreads In Positioning Equity Portfolios
On February 2, 2024, the yield spread between the Baa corporate bond and the 10-year Treasury bond sat at 147 bps—the narrowest level since 2000.CIO Weekly Perspectives
The Year Ahead for the Major Industry Sectors, Part 2
The second of two Perspectives outlining some of the key themes we think will drive the major industry sectors in 2024.CIO Weekly Perspectives
The Year Ahead for the Major Industry Sectors, Part 1
The first of two Perspectives outlining some of the key themes we think will drive the major industry sectors in 2024.Asset Allocation Committee Outlook
Flows and Fundamentals
With cash rates priced to decline substantially, we think it is time to deploy liquidity, locking in bond yields and seeking out value in the equity market.Equity Market Outlook
Making Sense of Mixed Signals
Against long odds, 2023 marked the return of investor optimism. We examine the sustainability of the potentially precarious drivers that may be underpinning last year’s stunning market rally.CIO Weekly Perspectives
Investors Cannot Ignore the Debt-Sustainability Question
Despite a pullback in bond yields, clients at our Solving for 2024 event were still uncertain about how to invest in a world of runaway government debt.White Paper
The Limitations of Passive Investing to Achieve a Net-Zero Outcome
In our second installment of The Fine Print of Indexation, we tackle the challenge of building net-zero-aligned portfolios.CIO Weekly Perspectives
Is Too Much Riding on the Tech Titans?
U.S. tech is “Magnificent” in many ways, but it cannot lead the market forever—investors may want to seek performance elsewhere.Podcast
A Force to Be Reckoned With
(22:41) As we mark our 100th episode, we explore the disruptions facing our industry at large.Asset Allocation Committee Outlook
Higher for Longer, Longer the Stronger
“Savings depletion and weakness among small-cap and regional bank stocks suggest that the U.S. economy may not be as strong as it seems.”White Paper
Japan: Unlocking Hidden Value Through Engagement
Reforms could continue to drive performance, particularly in a small to midcap space that is ripe for engagement-driven capital efficiency gains.Podcast
From Hype to Reality: The Impact of Generative AI
(26:14) With the boom of generative AI, we explore the sector to determine whether we truly are amid the next industrial revolution or if it is just beginning…Equity Market Outlook
A Change of Season
For all the exuberance over a potential soft landing, we believe a rising tide of data reveals an economy that is more likely tracing a scenic detour to recession.White Paper
A New Energy Investment Paradigm
Using today’s fossil-fuel profits to invest in the long-term growth and emissions reduction of clean and renewable power.CIO Weekly Perspectives
Political Gridlock but Fiscal Largesse
How political dysfunction undermines debt sustainability and helps embed structurally higher inflation.White Paper
The Active Foundations of Sustainable Investing
As ESG and sustainability indices proliferate, we argue that sustainable investing is inherently an active management discipline.CIO Weekly Perspectives
Strike (Big) 3?
A potential U.S. auto strike has significant implications for the economy, earnings and inflation.CIO Weekly Perspectives
Late-Summer Debates
A few key issues could disrupt investors’ peace and quiet as fall approaches in the Northern Hemisphere.Podcast
The Implications Behind Indexation
(14:33) Are there misunderstood aspects of indexation that investors should be aware of?Insights
Ten for 2023—Midyear Update
We check in on the key themes we anticipated from the economy and markets in 2023.Asset Allocation Committee Outlook
Engine Running, Shifting to Neutral
In the face of conflicting signals from our short- and medium-term outlooks, our Asset Allocation Committee is adopting more neutral views.CIO Weekly Perspectives
Taking Stock
As we reach the halfway point of an unexpected year for markets, what’s next for equities?White Paper
Climate Innovation and the New Capex Cycle
The backdrop for investing in climate innovation is at a critical infection pointEquity Market Outlook
Economic and Market Review: Long-Term Optimism Amid Short-Term Headwinds
While the rally in mega-cap growth stocks has helped delay the next downturn, we reaffirm our emphasis on low-beta portfolios, higher earnings quality and defensive sectors.White Paper
The Fine Print of Indexation
A look at opportunity costs, long-term risks and complementary solutionsCIO Weekly Perspectives
Don’t Give Up on China
The post-COVID reopening has disappointed, but has that disappointment and the prospect of new policy stimulus created a relative value opportunity?Insights
GP-Led Secondaries: Private Equity’s Most Underserved Market?
Current macroeconomic and capital market conditions appear to be creating attractive investment opportunities for secondary buyers.CIO Weekly Perspectives
Is the Consumer Cracking?
News from the consumer sector reveals intriguing trends, as well as the importance of credit and security selection in today’s complex market environment.Podcast
The Many Facets of Japanese Investing
(29:48) Given Japan’s unique macroeconomic backdrop, what can this market offer to its investors?CIO Weekly Perspectives
A Tale of Two Indices
How an “optical illusion” might be making the S&P 500 look more expensive, and better-performing, than it really is.Podcast
The True Meaning of Sustainable Investing
(19:50) How can investors approach sustainable investing in today's investment landscape?CIO Weekly Perspectives
Proxy Voting: Engagement Matters
As we kick off our latest NB Votes campaign, we look at what detailed bottom-up knowledge brings to the process, and what can happen when it’s absent.CIO Weekly Perspectives
As Credit Goes, So Goes the Economy
Credit is the lifeblood of the economy, and the credit system just had a heart murmur.Podcast
The Deal or No Deal of Event-Driven Investing
(19:48) Exploring the nuances of event-driven investing in today’s markets, we attempt to answer: how do the deals get made? And what happens when they don’t?CIO Weekly Perspectives
The More Things Change, Part II
Banking stresses may have tightened conditions enough for policymakers to pause their hiking cycles indefinitely.Insights
Silicon Valley Bank: Market Reaction and Implications
In this bulletin, we provide our view of the events of the last week and their implications for the bank sector.CIO Weekly Perspectives
At the Crossroads, Seeking Direction
Faced with historically inverted yield curves, unbalanced equity markets and economic conditions unseen for 40 years, investors are agonizing over their next steps.CIO Weekly Perspectives
ESG: Making Sense of the Mudslinging
What ESG, sustainable investment and impact investment mean at Neuberger Berman, and how they are consistent with active management and the diverse needs of our clients.CIO Weekly Perspectives
Commodities: From Destocking to Restocking
The micro and macro factors weighing on commodities since last summer are starting to reverse—and secular tailwinds are building.CIO Weekly Perspectives
Politics, Deficits and the Debt Limit
We firmly believe that Congress will ultimately raise the debt limit, but it’s worth remembering that political drama affects markets.Insights
Equity Opportunities After Easy Money
Fourteen years of rock-bottom interest rates helped fuel a passive-indexing revolution. At Neuberger Berman, we believe we’ve entered a new economic regime that, in our view, calls for even more thoughtful and selective active management.Insights
Japanese Small Caps May Hop in the Year of the Rabbit
Despite their recent outperformance, we believe Japanese small caps have further room to run in 2023 and beyond. In this report, we highlight a few catalysts that could support earnings growth within this relatively under-researched asset class.Insights
The Investors Have Left the Building
Is money rushing to exit from non-traded real estate because there is more attractive value in listed real estate?CIO Weekly Perspectives
A Delayed Reckoning
Equity markets had momentum coming into 2023, but has the economic data now become too bad for investors to ignore?CIO Weekly Perspectives
Outlook 2023
The leaders of our investment platforms welcome the New Year with their views for 2023.Podcast
What Goes Up Must Come Down…Right?
(27:02) As inflation grows more apparent across the globe, we explore if there’s an end in sight, and how we see it impacting both Equities and Fixed Income investments.CIO Weekly Perspectives
A Tale of Two Cities
Why we think the resilience of the U.S. economy is proving to be a real conundrum for investors.CIO Weekly Perspectives
Cryptonite
The FTX collapse is a blow to the idea of finance industry disruption and a potential source of volatility, but we think systemic contagion into broader financial markets is unlikely.White Paper
Hardening Borders: Opportunities in Security, Health and Trade
Seeking the potential beneficiaries of a new age of deglobalization and insecurity.Insights
Solving for 2023: Back to the "Old Normal"
Our senior investment leaders discuss their market and investment themes for the coming year.CIO Weekly Perspectives
Is This ‘Nightmare on Wall Street’ Coming to an End?
Do corporate earnings disappointments signal a weaker economy and easing inflation pressures, which could end this scary market—or are there more twists to come?CIO Weekly Perspectives
Policy Excesses and Market Discipline
We are seeing bond investors standing up for themselves against policymakers, and while equity investors are experiencing pain from this struggle, the end result may be a more sustainable, fundamentals-based market.CIO Weekly Perspectives
The Uncertainty May Be Worse Than the Slowdown
We do think the onset of recession is a time to tread carefully, but it could also be a time of opportunity for equity investors.Podcast
How the Space Economy Is Achieving Liftoff
(17:04) As we take off further into the Space Age, we explore the growth potential and opportunity set within this quickly evolving sector.Insights
Japan’s New Horizon in Small Caps
We believe smaller companies are poised to shine brightly in the “land of the rising sun.”CIO Weekly Perspectives
China: Suspended Animation
The run-up to China’s leadership meetings this fall is delaying substantial policy changes, in our view creating opportunities in advance of potential economic improvement next year.White Paper
Value, Growth and the True Exposures in Your Portfolio
If your portfolio has fallen more heavily than you anticipated this year, it may be because it has become biased to growth stocks: a full analysis could help restore the balance—and the exposure to a more disciplined style of value investing—you intended.CIO Weekly Perspectives
Recession Semantics
Whether the U.S. is actually in a recession is debatable, but high inflation will affect companies both positively and negatively.Podcast
Forgo FOMO: Growth Investing for the Long Term
(12:08) As investors grapple with what the options are in today’s market, we look to growth stocks, which some may consider to be too risky right now, but we uncover how we believe that might not actually be the case…Equity Market Outlook
Economic and Market Review: Key Considerations for Equity Investors
We see increasing likelihood of a recession, but even if we avoid one, we think the coming months are going to feel like a recession as the decline in stock market valuations in the first half of the year are likely followed by a decline in corporate earnings in the second half.CIO Weekly Perspectives
Earnings at a Crossroads
The guidance in this season’s earnings reports could start to tell us how far earnings are likely to decline and how much is already priced in.Podcast
The Mission Toward Carbon Transition
(17:11) What role does carbon play across infrastructure and are companies implementing changes across their operations as a result?Insights
Japan: Land of the Rising Prices?
Japan looks set to emerge from 30 years of near-zero inflation in 2022—but are its companies able to absorb higher costs, or even re-learn the art of passing price hikes on to their customers?Insights
Why Passive ESG Fails to Deliver
There’s no substitute for nuanced analysis and judgment in ESG investing.Equity Market Outlook
Economic and Market Review: Key Considerations for Equity Investors
We believe the conflict in Ukraine may turn out to be less critical for equity markets than the upcoming turn we anticipate in the economic growth cycle.Insights
REITs as a Hedge Against Inflation
Real estate investment trusts across a number of sectors could show strength in 2022, driven by inflation and secular trends.Podcast
The Weakest Links in the Global Supply Chain: Part III
(17:30) In this final chapter of the supply chain series, we identify some of the key risks and opportunities across the technology sector as the global semiconductor shortages further impact the greater supply chain crisis.Podcast
The Weakest Links in the Global Supply Chain: Part II
(19:53) As we continue our conversations around the current global supply chain crisis, we evaluate what companies with production overseas are doing about meeting consumer demands and more.Equity Market Outlook
Economic and Market Review: Key Considerations for Equity Investors
We believe positive fundamentals are likely to outweigh pandemic, valuation and slowdown concerns in the first half of 2022.Podcast
The Weakest Links in the Global Supply Chain: Part I
(15:38) With store shelves looking emptier and shipments getting delayed, we explore what is happening in the global supply chain and what companies are doing about it.Video
Understanding China Market Dynamics
(15:00) We believe having on the ground insight is key to understanding China market dynamics.Insights
Public/Private Investing: Broadening Opportunity Within Equities
We believe private equity can serve as a core holding alongside traditional stocks to help improve investment outcomes.Podcast
The Blurred Lines of Public and Private Equity
(21:52) Companies today have a variety of pathways to go public, but we also have seen them want to stay private for longer. So where might the opportunity set be within this gray area of investing?Insights
Should Investors Stay Onboard the Chinese Dragon Boat?
Surprising policy developments are rocking the craft, but in our view the course remains set for the same long-term destination, and the uncertainty and volatility may present some attractive investment opportunities.Podcast
Turning a New Leaf in Chinese Investing
(19:21) With changes to Chinese regulatory policy, many investors have started to pull away their investments in China. Putting the pandemic and geopolitical tensions aside, could these investors perhaps be leaving potential opportunities behind as a result?Video
