Markets pushed through volatility in the first half of the year. What does their resilience signal for investors? Chief Investment Officer Alicia Levine answers this question and more in our 2026 Mid-Year Outlook. She shares our expectations for growth, inflation and earnings, and how to position portfolios in the second half.

U.S. high yield credit spreads have widened year to date, reflecting greater investor caution about perceived default risk. The move also raises concerns about possible credit contagion. However, because spread widening has been concentrated in the lowest-quality issuers rather than higher-quality issuers, we don’t anticipate broader market stress.

While there are good reasons to keep some savings in cash or cash equivalent investments, today's rate environment presents several attractive options for investors.

Modern defense has become a networked battlefield, driving demand for AI, drones, satellites, and other advanced technology. At the same time, debt-laden governments are turning to civilian supply chains to build out their industrial bases. Senior Equity Analyst Peter Luppino explains why investors should watch the expanding ecosystem behind the military of the future.