Top Papers: Thought-provoking insights from September

Insights from the IMF, UBS Asset Management, and more

“The Summer AI Turned Ugly,” from Deutsche Bank Research Institute, is a bold claim. Though it refers to how market participants have viewed AI and AI-related developments in recent months, it is indicative of a broader attitude. You can read the series in full below. Aside from this, it is clear that sentiment toward bond and equity markets is optimistic. How should allocators operate in this environment?

Exploring Artificial Intelligence (Invesco)

Advances in model design, computing power, and the exponential growth of data set the stage for today’s rapid progress in AI innovation.

Living on a Prayer: 2025 Global Retirement Index (Natixis IM)

For compliance reasons, this paper is NOT accessible in the United States and Canada

More and more people are worried that retirement promises will not be met. There are several factors behind this anxiety.

A Season of Change? Navigating Economic Winds (Amundi)

For compliance reasons, this paper is NOT accessible in the United States

Vincent Mortier, Group Chief Investment Officer, and Monica Defend, Head of Amundi Investment Institute & Chief Strategist, discuss current market conditions.

Global ETF Megatrends: 2025 Midyear Review (State Street)

The ETF market continues to grow and evolve, adapting to new economic and financial conditions and investment goals.

In the Gaps: Alternative Credit Newsletter Summer 2025 (Ares)

This newsletter explores credit markets in a historical context, liquidity gaps, economic dynamics, and more.

Evolution of Corporate Credit (UBS AM)

The corporate credit market is undergoing a fundamental transformation that is reshaping how investors approach their fixed income portfolios.

The Summer AI Turned Ugly (Deutsche Bank Research Institute)

This two-part series looks at how AI is transforming the world, exploring the practical benefits it may bring, as well as the illusions that investors need to stay away from.

The Geopolitics of Biotech (Lazard)

The biotech sector is emerging as another frontier of global geopolitics, as recent years have shown.

100 Days in, Is the Euro Gaining Ground on the Global Stage? (ING)

If the Euro is to achieve greater success on the global stage, there will clearly be both “push” and “pull” factors involved.

Plugging Europe’s Investment Gap (Bruegel)

Life insurance and pensions overlap, with the distinction that pension funds are often linked to employment, such as through occupational pensions.

Private Credit Does Not Pose Material Financial Stability Risks (MFA)

There is now a growing consensus among academics and regulators that private credit does not pose a systemic risk to banks or the broader financial system

F&D September 2025 (IMF)

Technology is reshaping geopolitics, economic activity, and financial markets. Explore the latest IMF issue on stablecoins, tokenization, and globalization.