Capturing Opportunity While Navigating a More Volatile Macro Backdrop

As the second quarter unfolds, markets are increasingly shaped by geopolitical tensions, supply-side disruptions, and a more complex growth and inflation backdrop. A stagflationary impulse is reinforcing the importance of income, quality, and selectivity across fixed income, as higher yields and rising dispersion create both opportunity and risk. At the same time, shifting policy expectations and global spillovers are adding new layers of uncertainty across asset classes, underscoring the need for disciplined portfolio construction and diversification. Drawing on insights from across our affiliated boutiques, our Q2 2026 outlooks explore how investors can navigate volatility and position for opportunity in an evolving macro environment.