Central banks’ inflation targets are in sight, but not all price trends have normalized. Inflation isn’t the headache it was, but investors should keep it in mind in their asset allocation decisions.

The Fed has cut policy rates by 75 basis points since September only to see longer-term Treasury yields and mortgage rates increase by the same degree. We take a closer look at this divergence and its implications.

Asia’s equity outlook will likely depend on U.S. tariffs, China’s stimulus and Japan’s structural changes. Stable fundamentals support cautious optimism for investment-grade bonds.