Max Severijns

Software stocks are being repriced as investors reassess how artificial intelligence will reshape the industry. Some fund managers now argue the selloff has gone too far, even as uncertainty around long-term earnings remains unresolved.

A mix of erratic political choices has chipped away at confidence in Washington. Yet, as the economic backdrop remains stubbornly solid, the case for US assets is alive and kicking, America’s largest investors say.

A wave of massive initial public offerings, including SpaceX, Anthropic and OpenAI, is set to hit US equity markets just as index providers move to fast-track their inclusion. Asset managers expect this combination could inject fresh volatility into passive investment strategies.

The conflict between the US and Iran is hitting the core of the Federal Reserve’s rate strategy. The one factor that was keeping rate cuts alive, falling housing costs, is now under pressure. Fed governor Stephen Miran’s bet that housing costs would keep falling fast enough to justify lower Fed rates is now being tested in the worst possible way.

Now that the US SEC has placed most digital assets, including cryptocurrencies, outside its oversight, chair Paul Atkins said the “brake on innovation” that the market watchdog had become under Gary Gensler is disappearing.

For decades, investors have been told to balance risk with a simple formula: the 60/40 split between stocks and bonds. New research from Yale argues that approach is fundamentally flawed, leaving many savers too conservatively positioned to maximise long-term wealth.

European banks have little direct exposure to the Middle East, says European credit rating agency Scope. However, as tensions in the region threaten to push up energy prices and slow economic growth, the risks for lenders may emerge elsewhere: in the balance sheets of the companies they finance.

The war between the United States, Israel and Iran is casting a shadow over a crucial week for central banks. The US Federal Reserve meets on Wednesday, followed a day later by the European Central Bank.

Write a prompt asking Claude to act like an investor who wants to know everything about a company. Upload the quarterly results of a business you follow. Click. Wait fifteen minutes. And there it is: an investment memo with a cash-flow model, scenario analysis, a risk overview and a valuation framework. Neatly structured.

Listed private markets managers are under pressure in recent weeks as investors question the resilience of evergreen funds and worry about technology exposure in private credit portfolios. Shares across the sector have slid after several retail-focused vehicles limited withdrawals, raising fresh doubts about whether funds that promise periodic liquidity can withstand market stress. Partners Group says those fears are misplaced.