MACRO PULSE
2026 Outlook: Charting the Year Ahead
As investors look to 2026, markets are defined by tension. Our Global Market Strategy team shares their outlook.
From the Global Market Strategy Team: How a U.S. government shutdown hits the strategist desk Get Our Insights >
Smart insights drive stronger portfolios
We leverage proprietary research and collaborate with investment teams across New York Life Investment Management to offer timely answers to the questions facing investors today in key areas:
Chart of the Week: Around the World: The Iran Conflict’s Impact on the Global Economy
WEEK OF APRIL 26, 2026
Equity markets are sitting near all-time highs, suggesting that investors are increasingly willing to look through the geopolitical risks associated with the Iran conflict. However, the longer the conflict persists, the harder it may be to ignore its underlying economic effects.
Read Macro Pulse Report: Dog Days, Data Shifts
Around the World: War in Iran and the Global Economy
Equity markets are holding near highs even as geopolitical risks remain elevated. Julia Hermann and Sarah Hirsch are joined by Candriam’s Emile Gagna to discuss how the Iran conflict is shaping markets and global growth.
The Demand for Private Credit Driving the Real Economy
Private credit is playing a growing role in financing the U.S. real economy. As recent headlines draw attention to areas of stress, Sarah Hirsch explains how institutional demand and market dynamics continue to shape its role and opportunity set.
Around the World: War in Iran and the Global Economy
The Demand for Private Credit Driving the Real Economy
2025 | Trust or Bust: The Next Era of Global Debt Sustainability
The choices governments make will shape long-term capital markets assumptions around inflation, interest rates, and potential growth; and will influence asset allocation.
A global debt sustainability framework:
Private Markets
Navigate the next phase of global private markets
Key investor questions:
- How does an extended but maturing private markets cycle change where investors should be selective across private equity, private credit, real estate, and real assets?
- Where are the most compelling opportunities as policy support, easing financial conditions, and elevated long-term rates reshape valuations, deal activity, and underwriting discipline?
- How are global transitions such as AI, digitization, electrification, and supply chain reconfiguration creating long-term, capital-intensive opportunities across private markets?
Prospective investors should be aware that investments in private funds or alternative investment strategies are suitable only for qualified investors who do not require liquidity and who can bear the economic risk, including the potential for a complete loss, of their investment. Investors are encouraged to consult their tax or legal advisors before making such investments.
Video: Private Markets Outlook - Extending the Cycle
About Global Market Strategy
Our team of market strategists connects macroeconomics to asset allocation. We provide actionable insight into market-driving events, structural themes, and portfolio construction to empower investment decision-making.
Lauren Goodwin, CFA
Chief Market Strategist
Julia Hermann, CFA
Global Market Strategist
Michael LoGalbo, CFA
Global Market Strategist
Sarah Hirsch
Global Market Strategist
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