CIO reading list: June 2025
What are global CIOs saying about the world's economy?
Explore insights tailored for CIOs on timely issues facing markets today. This collection includes the direction of the U.S. economy, the role of China on the global stage, AI and technology, the U.S. dollar's dominance, portfolio construction, and market valuations, among many other topics.
Insights for CIOs
Public Market Signals for Private Credit Investors (MetLife IM)
Public market data, specifically Baa bonds and short-term Treasuries, can reliably explain spot-market transaction cap rates.
Will the Bond Vigilantes Be Kept at Bay? (MUFG)
These charts provide an excellent analysis on the recent history of bond markets, as well as insights into their future direction.
Navigating Volatile Markets: A Rulebook for Fixed Income (Franklin Templeton)
For compliance reasons, this paper is only accessible in the EMEA region
The authors of this paper argue that it’s time to stop thinking about fixed income solely through the prism of the U.S. Treasury market.
Income Strategy Update: Focus on Stability amid Turbulence (PIMCO)
The current period of volatility is unique in that it is related to a conscious policy decision and style of implementation rather than an exogenous shock.
Rethinking Emerging Markets Hard Currency (Nuveen)
Regardless of the sector or the form, country risk is typically the dominant risk that emerging market that investors need to assess correctly.
Cross-Country Relative Duration Strategies (Macrosynergy Research)
Cross-country relative duration strategies take volume-adjusted fixed receiver positions in interest rate swaps of one currency area versus others.
Markets Already Crashing (Myrmikan Capital)
The gold price was positively correlated with nominal rates in the 1970s.
Rethinking India-Europe Trade Routes in a New Era of Connectivity (ORF)
Connectivity projects as massive as one between India and Europe are decades-long endeavors. In today's fragmented world, these projects are more than needed.
Views from CIOs
The Bubble - Contains the Collapse - Contains the Resurgence (Hussman Funds)
When investors approach financial markets, there’s a tendency to imagine that conditions can be judged as favorable or unfavorable based on one single measure or another.
Greenlight Capital's David Einhorn (David Rubenstein)
Greenlight Capital Founder and President David Einhorn discusses the challenges of value investing in the current market environment.
Jeffrey Gundlach on Surreal Markets (DoubleLine)
DoubleLine CEO Jeffrey Gundlach explores the increasingly surreal disconnect in markets, policy and economic data.
Is Investing in Modern China a Smart Decision? (Capital Decanted)
China private capital investor pioneer, Ed Grefenstette, CEO and CIO of the Dietrich Foundation, explores what the future holds for the Chinese markets.
Is the Dollar’s Reign Over? (Standard Chartered)
The U.S. dollar's global significance comes from its role as the world’s primary reserve currency, unit of trade, and pricing benchmark in global finance.
A New dawn of Uncertainty (Columbia Threadneedle)
Relationships between global powers and long-standing allies have become less predictable. Will this dynamic last for long?
