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The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams, and are subject to change over time.
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Historical analysis and forecasts do not guarantee future results.
Earnings revision percentiles by sector are based on historical data from 1988.
As of June 16, 2025
Source: Bernstein Research, Bloomberg, Haver Analytics and AllianceBernstein (AB)
Historical analysis and forecasts do not guarantee future results.
Adv: advanced; EM: emerging market
*The year-over-year change in the cyclically adjusted balance (the budget balance if the economy operates according to its potential) as a percentage of GDP
†Primary deficit refers to the difference between government spending and revenue, excluding interest payments. The US government debt level is measured as a percentage of GDP.
As of May 31, 2025
Source: Congressional Budget Office, International Monetary Fund and AB
The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams, and are subject to change over time.
Caglasu Altunkopru is Head of Macro Strategy in the Multi-Asset Solutions Group at AB. She was previously a sell-side analyst at AB, covering equity portfolio strategy for six years. Altunkopru joined the firm in 2005, covering the European Household and Personal Care sector, and her team was ranked among the top three in Institutional Investor and Extel surveys. Prior to joining AB, she worked as a management consultant with The Boston Consulting Group, Bain & Co. and McKinsey, serving clients in the consumer goods and financial services sectors. Altunkopru holds a BS in mathematics from the Massachusetts Institute of Technology and an MBA from Harvard Business School. Location: New York
Aditya Monappa is Global Head of the Multi-Asset Business Development team. In this role, he leads a team of investment and product strategists who engage with clients to represent market views and investment strategies for AB’s Multi-Asset Solutions (MAS) business. Monappa is also involved in setting the strategic priorities and goals for the global MAS business. Prior to joining the firm in 2018, he was head of Asset Allocation & Portfolio Solutions for Standard Chartered Bank. As part of that role, Monappa was responsible for the design of global asset-allocation models and multi-asset-class portfolio solutions for both the private and priority segments. He was a key member of the bank’s Global Investment Council and also acted as an advisor to the Discretionary Portfolio Management division. Previously, Monappa was head of Wealth Management Analytics for RiskMetrics Group, responsible for its asset allocation and portfolio construction offering. Prior to RiskMetrics, he worked with J.P. Morgan, first in the Investment Management division, followed by three years with J.P. Morgan Advisory Services, a division of J.P. Morgan Private Bank. Monappa holds an MBA from INSEAD and an MS in financial engineering from Columbia University. He is a CFA charterholder. Location: Singapore
Policy shifts may create an incentive to diversify.
Eric Winograd | 23 July 2025Compelling bond yields and diverging equity returns offer building blocks for effective strategies.
Karen Watkin, Fahd Malik, Edward Williams | 10 July 2025As the second half gets underway, we think a modest overweight to risk assets is called for.
Caglasu Altunkopru, Aditya Monappa | 04 July 2025