Man Group
Market insights and commentary from Man Group.
United Kingdom5 articlesLast published 17 Jun 2026
AlternativesMulti-Asset
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Man GroupFixed Income
A Crude Awakening | Man Group
Man Group analyses 22 historical episodes of oil price spikes to argue that today's tight US high yield spread environment (317bps, 12th percentile) removes the recovery cushion that previously offset crude-driven credit stress. The piece identifies Autos and Retail as the most vulnerable sectors, projecting median spread widening of ~80bps and ~49bps respectively over six months, with the Fed's rate path as the key amplifying risk.
17 Jun 2026
Man GroupEquities
SpaceX – To Infinity and Beyond? | Man Group
Man Group's Dan Taylor examines the SpaceX IPO — the largest in history — arguing its $2.7 trillion valuation reflects investor faith in Elon Musk rather than a genuine read-through for the broader AI sector. The piece also highlights a widening fracture within technology equities, with semiconductor valuations stretched above 16x sales while hyperscaler free cash flow is being consumed by AI capex, pushing recovery out to 2029.
17 Jun 2026
Man GroupFixed Income
H2 2026 Credit Outlook: The AI Buildout – Boom or Bubble? | Man Group
Man Group's H2 2026 credit outlook examines the surge in AI and hyperscaler bond issuance in public markets alongside a wave of high-profile defaults in private credit AI and software deals, raising concerns about bubble risks. The piece covers both public and private credit sector outlooks and includes commentary on how Man Group is integrating AI into its own credit research capabilities.
16 Jun 2026
Man GroupEquities
Something Has Got to Give (Eventually) | Man Group
Man Group examines the extreme dispersion AI is creating within the technology sector in H2 2026, highlighting how semiconductor stocks have driven ~two-thirds of S&P 500 year-to-date gains while software/SaaS faces a broad sell-off. The piece warns that hyperscaler AI capex now consumes over 90% of operating cash flows, pushing FCF recovery to 2029, and that semiconductor valuations are priced for perfection with upcoming AI IPOs serving as a key test for spending durability.
12 Jun 2026
Man GroupMulti-Asset
Scenarios and Asset Class Implications | Man Group
Man Group outlines three macro scenarios—base case (mild US recession), downside (stagflation), and upside (détente)—all framed around the Iran/Middle East conflict and its effects on commodities, growth, and monetary policy. For each scenario, the piece provides specific asset allocation guidance across equities, fixed income, currencies, and alternatives for institutional investors.
10 Jun 2026