New York Life Investments
The latest research and outlooks in the ProAllocate library
- Private Markets
Private Fixed Income: A Platform Built on Experience
New York Life Investment Management promotes its private fixed income platform, emphasising its long-standing experience and capabilities while outlining current opportunities in private credit markets.
- Thematics
The Market Cycle Isn’t Your Client’s Time Horizon
Julia Hermann argues that advisors should use New York Life Investment Management's long-term 'Megatrends' research—covering liquidity architecture, sovereign debt, AI infrastructure and supply chains—to connect short-term market noise with clients' multi-decade goals. She contends structural shifts, not daily data, should inform portfolio assumptions and client conversations.
- Portfolio Construction
The architecture of liquidity is changing
Julia Hermann argues that as non-bank institutions assume a larger role in liquidity provision, markets are becoming more fragmented and liquidity backstops less certain. This shift may raise liquidity premiums and require investors to assess liquidity risk across whole portfolios, including semi-liquid private-market vehicles.
- Macro
Midterms 2026: The Stakes Beyond the Ballot Box
New York Life Investment Management argues the 2026 US midterms matter less for which party controls Congress than for what they reveal about persistent fiscal-driven rate pressure, AI infrastructure pushback, and geopolitical fragmentation. These structural forces are expected to keep shaping markets and diversification strategies through 2027 regardless of the election outcome.
- Private Markets
Private Markets Outlook: Resilience in an Evolving Landscape
New York Life Investment Management's Sarah Hirsch reports that private markets proved resilient in H1 2026, though building macro crosscurrents are narrowing the path to outperformance. Separately, the firm's macro outlook stays constructive but flags elevated inflation, high long-end yields and geopolitical and oil risks as headwinds to financing costs.
- Private Markets
Resilience in an evolving landscape
New York Life Investments' Sarah Hirsch outlines a 2025 private markets outlook where rate cuts and policy shifts differentiate opportunities across private equity, credit, real estate and infrastructure. Middle-market lending, lower middle market buyouts, select real estate sectors and AI-driven infrastructure demand stand out as areas of resilience.
- Private Markets
Why a Credit-First Approach Matters
Apogem Capital's Bill Kindorf and Adam Willis outlined in PEI Private Credit why a credit-first approach, disciplined underwriting and sponsor relationships underpin successful lower middle market direct lending.
- Digital Assets
Why Caution May Be Tokenization’s Competitive Edge
Tokenization's institutional adoption will hinge less on settlement speed than on regulation, governance, custody and investor protection standards, argues New York Life's digital assets strategist. Cautious institutions like insurers may set the benchmarks needed for broader market participation.
- Equities
European defence autonomy: rearming with purpose
Europe's defence spending has become a structural, multi-decade industrial commitment following Russia's invasion of Ukraine and reduced US involvement. Investors should focus on companies with defensible technology and production capacity across defence, civil aerospace and space, as execution—not funding—is now the binding constraint.