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    Blogs

November 5, 2025
Canadian Budget Targets Infrastructure, Competitiveness

Fiscal expansion from the federal budget and recent monetary easing offers stimulus, but durable results will depend on how effectively these policies translate into investment and productivity gains.

November 3, 2025
AOR Update: Data Dearth and the Dashboard

While the government shutdown has halted most economic data releases, our analysis of private data sources suggests a continuation of recent trends and a stable green signal for the Recession Risk Dashboard.

September 2, 2025
AOR Update: Labor Market Bending, Not Broken

The labor market is in heightened focus as a sharp drop in immigration has contributed to slower but also lower churn employment growth, increasing the likelihood of modest interest rate cuts.

September 1, 2025
Concentrated Returns Challenge Small Cap Alpha

The Russell 2000’s top 10, 20, and 30 contributors have recently accounted for a historically high percentage of benchmark gains, creating a set of unique challenges for active small cap managers.

August 1, 2025
AOR Update: Clarity Coming Into View

With clarity on tariffs emerging, a major source of macro and market uncertainty is waning. Combined with a tax and fiscal boost from new legislation, corporate animal spirits are poised to pick up.

July 21, 2025
Rally Relieves—but Does Not Reassure

U.S. stocks have significantly underperformed from a global perspective, even while the market trades at a record premium, highlighting the value of diversification and dividends.

Related Perspectives

ClearBridge Outlook 2026: Is Bull Market Just Hitting its Stride?
Jeff Schulze and Josh Jamner offer their prognostications for the U.S. economy and equity market in the year ahead, building a case for positive momentum to continue.
Large Cap Growth Monthly Update
Large Cap Growth October 2025: Mega caps in the benchmark reported solid earnings results in October, with those directly involved in AI continuing to ramp up capex.
Emerging Markets Monthly Update
Emerging Markets October 2025 Commentary: The Strategy’s technology exposure in Asia drove outperformance in a month where AI momentum continued to support emerging markets.
Large Cap Growth Strategy 4Q25 Update
Portfolio Manager Margaret Vitrano recaps Strategy performance and positioning since Liberation Day, highlighting active moves to improve relative results.
Gen AI Buildouts Spur Tech Infrastructure Boom
Ambitious capital spending on generative AI projects by hyperscalers, which we view as a once-in-a-decade cycle, represents a meaningful tailwind for technology infrastructure providers supplying the picks and shovels to run large language models.
Harnessing Market Energy: Active Value in an Inelastic Era
Value 3Q25: We combine potential value energy with selective kinetic momentum to build a differentiated portfolio.
A Tighter Risk Framework Lowering Volatility
Large Cap Value 3Q25: We have made concerted efforts this year to neutralize momentum exposure, reduce outsize bets in higher-volatility stocks and implement tighter underwriting across the portfolio, with positive results so far.
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