In this month’s update, JP focuses on three key market storylines. First, he examines how conflict with Iran is affecting not just oil prices, but also U.S. and international markets, and explains why U.S. stocks have been surprisingly resilient. He then turns to the implications for the bond market and the challenge potentially higher prices pose to the Federal Reserve’s policymakers.

JP also dives into the private credit market, giving an overview of how the asset class grew out of a search for yield following the Great Financial Crisis, and where we stand today after certain funds began limiting redemptions. He outlines the risks to investors and financial markets, before wrapping up with an overview of constructive economic factors, including AI investment trends.

Watch now for insights on today’s volatility, tomorrow’s possibilities and how we’re thinking about portfolio positioning in light of both.