CIO reading list, May 2026: Building tomorrow's diversified portfolios

Looking beyond the uncertainty

Firms such as Amundi have referred to what’s going on in markets today as “rupture”. The old order is passing away to make way for the new. With this comes volatility, however. To help CIOs navigate this uncertain world, Savvy Investor has selected a number of useful insights, all of which will help position portfolios for tomorrow’s opportunities.

For CIOs

EMD in a Multipolar Credit System (New York Life Investment Management)

EM debt is emerging as a core allocation—offering yield, diversification, and efficiency. Are portfolios adapting?

Capital Market Assumptions 2026 (Amundi)

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

The global economy and markets are increasingly being impacted by ruptures. Strategically diversifying long-term allocations can build resilience.

Q1 2026 Emerging Markets Debt Review and Outlook (Metlife IM)

Resilient fundamentals, disciplined policy frameworks and attractive valuations continue to support EM’s longer-term income and diversification potential.

Fixed Income Perspectives Q2 2026 (Capital Group)

For compliance reasons, this paper is only accessible in certain geographies

Fixed Income Perspectives outlines the current macro and market views from across Capital Group’s extensive fixed income team and offers insights on investors' bond exposure against an ever-changing backdrop.

Gold Demand Trends: Q1 2026 (World Gold Council)

For compliance reasons, this paper is only accessible in certain geographies

Gold demand saw a modest y/y increase in Q1 to 1,231t, while value surged to a record US$193bn.

From CIOs

Maritime Chokepoint Brinkmanship (Rockefeller Capital Management)

Chief Investment Officer Jimmy Chang examines how equities had performed in prior episodes of rapid rises in crude oil prices, and why financial markets currently have been so resilient in the face of the worst energy crisis in the modern era.

Korea: From “Discount” to Re-Rating (Deutsche Bank)

KOSPI’s surge is being led by the AI-driven memory super-cycle and a sharp earnings upgrade cycle. Near-term volatility is being driven by Middle East energy/supply risks, but Korea’s core fundamentals remain resilient.

Global Market Outlook: An Uneasy Truce (Standard Chartered)

Further de-escalation of the Middle East conflict and a softening of oil prices remain the base case. However, bouts of market volatility are likely in the absence of a firm US-Iran deal. Overweight equities and gold remain.

Positioning for the Evolving Business Cycle (Investcorp)

Rishi Kapoor, Vice Chairman and CIO of Investcorp shares Investcorp’s perspective on navigating evolving market dynamics, where diversification, valuation discipline, and active ownership are becoming increasingly important.

From Cyclical Reacceleration to Geopolitical Regime Shift (GCM)

This Q2 2026 outlook reflects a shift from cyclical reacceleration to a more fragile macro regime shaped by geopolitical disruption and structural uncertainty.