Wellington Management
Macro and thematic investment insights from Wellington Management.
United States12 articlesLast published 15 Jun 2026
Multi-AssetEquitiesFixed Income
Research
Wellington ManagementPrivate Markets
CRE debt's role in an insurance portfolio | Wellington Singapore Intermediary
Wellington Management argues that transitional CRE debt is underutilized in insurance portfolios, which average only 2.8% in real estate versus 66.1% in fixed income, and that first-lien floating-rate CRE loans can offer contractual income, corporate credit diversification, and capital efficiency. The paper covers the investment rationale, regulatory classification (Schedule B/BA), capital treatment considerations, and key risks such as illiquidity and manager execution for US and international insurers.
15 Jun 2026
Wellington ManagementFixed Income
Weekly market update | Wellington Singapore Intermediary
Wellington Investment Director Paul Skinner delivers a short weekly video briefing covering key market developments and themes investors should monitor. The update spans fixed income and broader market conditions, with contextual reference to geopolitical risks, inflation persistence, and an ongoing energy shock.
12 Jun 2026
2025 Climate Report | Wellington Singapore Intermediary
Wellington Management's 2025 Climate Report, prepared in alignment with TCFD recommendations and informed by IFRS S2, details the firm's approach to assessing financially material climate-related risks and opportunities across governance, strategy, risk management, and metrics. Key updates include broader application of climate research across asset classes (including commodities and sovereigns), proprietary climate analytics for physical-risk and transition-alignment assessment, and ongoing climate-related engagement and disclosure development.
11 Jun 2026
Wellington ManagementFixed Income
Midyear 2026 fixed income credit sector outlook | Tighter spreads, wider dispersion | Wellington SG Individual Investor
Wellington Management's fixed income portfolio managers assess H2 2026 credit markets through the lens of two concurrent supply shocks — the Middle East conflict and AI — arguing that rising sector dispersion beneath tight index spreads favors selective risk-taking over broad beta exposure. They prefer high-yield corporates, EM bonds, securitized credit (particularly non-agency MBS and CMBS), bank loans, and convertibles, while recommending modestly lower duration given weakened diversification benefits in a supply-shock regime.
11 Jun 2026
Wellington ManagementFixed Income
Fixed Income No re-run of the 2022 rates scenario but flexibility is key | Wellington Singapore Intermediary
Wellington Management's 2026 midyear bond market outlook argues that structurally higher yields make core fixed income attractive despite ongoing volatility stemming from the US-Iran war and its inflationary energy-price shock. The authors advocate a flexible, active approach to duration management, anticipating greater policy divergence across developed markets — particularly the US, UK, euro area, and Japan — as the crisis unfolds unevenly at the local level.
10 Jun 2026
Wellington ManagementAlternatives
Why the energy transition is an infrastructure investment case | Wellington Singapore Intermediary
Wellington's Sascha Hasterok argues that European power markets are shifting from energy scarcity to system constraints, as evidenced by rising negative electricity prices and escalating redispatch costs. He contends that value is migrating from power generation toward electricity networks, storage, and flexibility infrastructure, which offer regulated returns, cash-flow visibility, and inflation linkage aligned with the energy transition.
10 Jun 2026
Wellington ManagementMulti-Asset
AI Insights from Wellington | Wellington Singapore Intermediary
Wellington Management's Singapore intermediary hub aggregates 13 research pieces spanning macro scenarios, credit markets, equity portfolio positioning, productivity impacts, and ESG considerations related to artificial intelligence. The collection covers topics from AI-driven competition and US productivity growth to credit market financing of AI infrastructure and equity disruption risks, authored by Wellington's macro strategists, portfolio managers, and equity specialists.
10 Jun 2026
Wellington ManagementMulti-Asset
How is AI transforming the macro outlook? Three potential scenarios | Wellington Singapore Intermediary
Wellington Management macro strategists outline three plausible AI-driven macro scenarios — a capital supercycle, a boom-bust cycle, and a messy transition — each with distinct implications for growth, inflation, real rates, and asset classes. Rather than committing to a single outcome, the authors recommend tracking equity and credit market signals (AI infrastructure vs. application stocks, high-yield spreads, cyclicals vs. defensives, earnings revisions, and real yields) to determine which regime is materialising.
9 Jun 2026
Wellington ManagementMulti-Asset
Markets are underestimating the persistence of inflation | Wellington Singapore Intermediary
Wellington Management's macro strategists argue that markets remain priced for a swift resolution to the US-Iran conflict and a quick normalisation of energy prices, while the firm believes risks are skewed toward a sustained rise in oil prices (above US$100/bbl) and persistent inflation. They warn that accommodative monetary and fiscal policy stances are amplifying the energy shock, eroding policy credibility, and could drive structurally higher bond yields, steeper curves, and significant regional divergence in asset performance reminiscent of the 1970s.
9 Jun 2026
Wellington ManagementMulti-Asset
Asset Allocation Outlook | Wellington Singapore Intermediary
Wellington Solutions' monthly snapshot of asset allocation views as of 31 May 2026 covers global equities, government bonds, credit spreads, and commodities. Key positions include a modest overweight on global equities (favouring EM over UK/Europe) and gold, neutral stances on US equities, US rates, and credit (recently trimmed from overweight on spread tightening), and underweights on European and UK equities.
9 Jun 2026
Wellington ManagementEquities
SpaceX: 3 questions to answer before IPO liftoff | Wellington SG Individual Investor
Wellington Management's Head of Equity Capital Markets and Multi-Asset Strategist address three key questions around the anticipated SpaceX IPO, including investor demand dynamics, the potential halo effect on subsequent mega IPOs, and the implications of recently changed index inclusion rules for passive and active investors. The piece highlights how accelerated index fast-entry rules (Russell and Nasdaq 100) and total-market-cap weighting could drive outsized passive buying pressure and sector-level rebalancing effects post-listing.
8 Jun 2026
Wellington ManagementMulti-Asset
2026 Midyear Investment Outlook | Wellington Singapore Intermediary
Wellington Management's midyear 2026 outlook argues that markets are underpricing the persistence of inflation driven by a US-Iran conflict and sustained higher energy prices, which risks weaker policy credibility and wider regional divergence. Across asset allocation, the firm holds a selective risk-on stance, favouring US and EM equities, European rates, quality credit, and gold, while remaining cautious on oil and UK/European equities.
4 Jun 2026