Invesco
The latest research and outlooks in the ProAllocate library
- Thematics
A reset is not the end of the AI story
The piece argues that a sharp selloff in AI-linked semiconductor and tech stocks reflects a necessary reset of crowded positioning and high capital spending, not the end of the broader AI investment theme. It contends long-term compute demand remains intact, while market leadership broadens beyond mega-cap tech.
- Pensions
The overlooked years: Rethinking the pre-retirement journey
Invesco's DC pension roundtable argues the pre-retirement phase is under-engineered, proposing a Dutch-style matching/return portfolio split with credit bridging the two, while stressing member behaviour must shape glidepath design.
- Private Markets
Asset-based finance: Opportunity beyond traditional credit
Invesco argues asset-based finance represents a $28 trillion opportunity far larger than corporate private credit, offering diversification, inflation protection, and improved risk-adjusted returns when added to traditional portfolios. The firm contends ABF remains under-owned despite structural protections and low correlations with stocks, bonds, and direct lending.
- Equities
Why the bull market may be changing, not ending
Despite AI spending concerns and technology sector wobbles, broad market breadth and falling rates suggest the bull market is rotating toward new leadership rather than ending, the piece argues.
- Macro
Fed Minute Videos
Invesco's Global Liquidity team's Fed Minute series tracks FOMC meetings from 2025 to 2026, showing the Federal Reserve shifting between holds, cuts and a hike under Jay Powell and then Kevin Warsh amid persistently above-target inflation. With forward guidance abandoned, front-end rate markets are left pricing future moves purely off incoming inflation, growth and financial-conditions data.
- Equities
Beyond the US and AI: Where are investors finding opportunities?
Invesco's Ben Gutteridge, David Aulja, Emily Roberts and Charles Bond argue that extreme US and AI-related market concentration warrants broader diversification across regions, sectors and themes rather than abandoning either exposure.
- Equities
How a digital tilt may help buffer against global tariffs
Invesco argues that QQQ's roughly 24% exposure to software and consumer digital-service firms within the Nasdaq-100 may offer relative insulation from escalating US tariffs affecting goods-producing sectors. It cautions that digital-first holdings remain exposed to broader macro risks like sentiment, capital flows and rate sensitivity.
- Macro
National debt
US government debt remains manageable despite exceeding GDP, as household net worth and government assets far outweigh liabilities, debt holders are diversified, and Medicare costs have undershot forecasts. The piece offers advisors talking points to counter client anxiety about national debt.
- Macro
Washington Newsletter Q3 2026
Invesco's Global Public Policy Team previews a consequential US lame-duck session, new Section 301 tariff and forced-labor investigations covering dozens of economies, and 36 gubernatorial elections shaping 2026 state and national politics.