Euroland first-quarter GDP details released today support the view here that the Kitchin inventory cycle downswing is further advanced than in other regions – a positive for relative economic prospects.

The development and adoption of AI will continue to drive economic transformation in 2026 and beyond. A selective approach and valuation discipline are central to capturing long-term opportunities amid volatility, say portfolio managers Alison Porter, Graeme Clark and Richard Clode.

Paul O'Connor, Head of the UK-based Multi-Asset Team, on dead ends, game changers and the difficult choices faced by the incoming Conservative prime minister.

Alex Veroude, Global Head of Fixed Income, explains why the credit cycle in fixed income still has further to run in 2026, but investors should build some resilience into their portfolios.

The PBoC today released detailed monetary data for April, allowing calculation of true M1, the preferred narrow money measure here. Six-month growth of the aggregate, seasonally adjusted, rose to a 14-month high but remains low by historical standards – see first chart. Allowing for the usual lead, the suggestion is that two-quarter nominal GDP expansion will stabilise at a weak level in the second / third quarters and recover modestly towards year-end.

Artificial Intelligence (AI) and structural reforms, especially in Europe, present investors with the opportunity to seek out the companies that we believe stand to benefit most from what are likely to be substantial productivity gains. Head of EMEA and Asia Pacific Equities Lucas Klein and Head of Americas Equities Marc Pinto discuss the implications in their 2026 outlook.

Global six-month real narrow money growth appears to have recovered partially in April after a March relapse but remains weak by post-GFC standards – a much bigger pick-up is needed to signal an economic recovery, which, in any case, is unlikely before early 2020 at the earliest.

With macro drivers continuing to reshape markets, Ali Dibadj explores key investment themes for 2026 to help actively position portfolios for resilience and growth. He also explains how asset managers need to evolve to best work together with clients.

Jenna Barnard, Co-Head of Strategic Fixed Income, confesses to not all birthday gifts being a delight to receive but a book from 1892, found by chance in a second-hand book dealer, turned out to be a rare birthday gem. Its lesson on investing are not only instructive but shine a light on the predicament facing bond investors today.

Nick Watson, fund manager on the UK-based Janus Henderson Multi-Asset Team, argues that understanding a company's environmental, social and governance risks can be vital in enhancing clients' long term returns.

European equities Portfolio Manager Robert Schramm-Fuchs delves into the intricate landscape of Germany's ambitious reform agenda, exploring its implications for domestic growth and the broader European Union's economic and geopolitical dynamics.

Jenna Barnard, Co-Head of Strategic Fixed Income, explains how and why so many major central banks have been wrong-footed on economic growth in their countries and around the globe.

NVIDIA is reaffirming its dominant position in the AI infrastructure space, with continued strong demand for its products despite geopolitical headwinds, says Portfolio Manager Richard Clode.

Paul O'Connor, Head of Janus Henderson's UK-based Multi-Asset Team, discusses the ongoing impasse within Parliament as MPs unsuccessfully attempt to narrow down approaches to Brexit.

Sixteen different potential approaches to Brexit were presented to British MPs this week, eight were voted on yesterday - none received majority support. The Brexit process remains gridlocked.

With recent talks in Alaska renewing discussion about a future path to peace for Ukraine, Portfolio Manager Robert Schramm-Fuchs considers how large-scale post-war reconstruction and defence investment could reshape the prospects for European equities.

The view here is that the MPC should have cut Bank rate at its meeting last week.