John Butler

event March 2022

Article

2023-03-31

Europe Inflation

Euro area: Challenging long-held assumptions

We believe 2022 will be the year when macroeconomic and political developments challenge two deep-rooted misperceptions about the euro area:

By

event February 2022

2022-04-30

Macro and market Inflation Wellington on Washington and the World Content CoE Program Global Program USA Article

Could “Liberation Day” trigger a shift in capital flows?

John Butler discusses groundbreaking US tariffs, their impact on capital flows, and the changing investor perception of the US and Europe.

By

event April 2025

3 min

Article

2026-05-31

Outlook Economic cycle Geopolitics Inflation Macro Article No Optimizely

Global Economic Outlook

Our macro strategists continue to expect that the interlinkages between countries, central bank policies, and market pricing will change, creating potentially attractive opportunities for active portfolio management and security selection.

Multiple authors

event November 2024

Article

2025-11-30

Macro and market Monetary policy Outlook Content CoE Program Global Program Article

The year of uncertainty: 5 macro themes to watch in 2025

Macro Strategists John Butler and Eoin O’Callaghan outline five macro themes for investors to watch in 2025 in a year they see defined by exceptional uncertainty and an extraordinary macroeconomic backdrop.

By

event November 2024

6 min

Article

2025-11-30

active-views-event-hero-page-banner-image

ActiveViews Macro and market Elections Wealth Program Market commentary Event replay

Markets in 2025: asleep at the wheel or in the driving seat?

Watch the conversation with Head of Macro Strategy John Butler as he discusses recent macro events and potential 2025 market outcomes for investors.

By

Will Lockhart

event November 2024

25 min

Event replay

2025-11-30

Macro and market Interest rates Monetary policy Content CoE Program Global Program Article

Can central bank independence survive?

Can central bank independence survive? Macro Strategist John Butler discusses the challenges faced by central banks in an increasingly fraught political environment and how investors should adjust.

By

event October 2024

5 min

Article

2025-09-30

Macro hedge funds Diversification Macro and market Hedge funds Fiscal policy Interest rates Macro Monetary policy WELLSaid Podcast Podcast Brazil Canada Mexico USA APAC Asia Australia China India Japan EMEA Africa Europe France Germany Italy Russia United Kingdom Emerging markets Liquid alternatives & hedge funds Brand

Macro investing in a changing world

Head of liquid alternatives and hedge funds, Mark Sullivan, and investment director of diversifying strategies, Chris Perret, share their views on why the multidimensionality of macro investment approaches may help provide investors a smoother path forward amid an increasingly uncertain macro and geopolitical backdrop.

By

Christopher Perret, CFA, CAIA

event May 2024

31:49 min

Podcast

Macro and market Japan Fixed income Equity Macro Interest rates Article

Four questions for investors after Japan’s historic hike

With the Bank of Japan having finally moved out of negative rates, Macro Strategist John Butler identifies the four key questions he believes investors should focus on.

By

event April 2024

5 min

Article

2025-04-30

wellington-flower-broken-plate-banner-hero

Macro and market Portfolio strategy Fixed income Macro Article

Back to the future: a new economic era

Macro Strategist John Butler explores why he believes the old macroeconomic model is broken and how best to navigate a new era of investing.

By

event March 2024

5 min

Article

2025-01-31

wellington-swift-broken-plate-banner-hero

Macro and market Economic cycle Active management Fixed income Multi-asset Macro Video

How to reposition for a new economic era?

In this short video, Macro Strategist John Butler outlines the key features of the new economic era we are now entering.

By

event March 2024

4 min

Video

2025-03-31

Macro and market Economic cycle Portfolio strategy Multi-asset Macro Market commentary Thematic exposure Outlook Article

Trends and transformation distilled: Our 2024 outlook in brief

Our experts explore investment opportunities and risks for the year ahead.

Multiple authors

event February 2024

Article

2025-02-28

Germany Macro and market Fixed income Macro Fiscal policy Article

Why structural change in Germany may impact investors globally

Macro Strategists John Butler and Eoin O’Callaghan discuss why they believe the structural changes currently underway in Germany will impact investors globally.

By

event January 2024

Article

2025-01-31

Europe Inflation Economic cycle Outlook No Optimizely Monetary policy Interest rates Fiscal policy Multi-asset Article

Why Europe could surprise in 2023

Eoin O’Callaghan and John Butler discuss the contrasting prospects of the Euro Area and the UK and why 2023 could bring positive surprises in the region.

By

event December 2022

Article

2023-12-31

Inflation Geopolitics Volatility Alternatives investing Economic cycle Climate Liquid alternatives & hedge funds Hedge funds Video

Perspectives on today’s alternative investment environment

Take a quick tour of the alternative investment environment with investors from across our macro research and hedge fund teams, as they explore the geopolitical landscape, macro volatility, and key trends like climate-change adaptation and digital tokenization.

Multiple authors

event December 2022

Video

2023-11-30

Inflation Volatility Economic cycle Alternatives investing Outlook No Optimizely Multi-asset Fixed income Equity Liquid alternatives & hedge funds Video

A new economic era: Why inflation, volatility, and cycles are back

Macro Strategist John Butler argues that a seismic global shift is underway that will disrupt the macro dynamics of the past two decades, challenging long-held investment assumptions.

By

event November 2022

Video

2023-12-31

Volatility Inflation United Kingdom Defined contribution (DC) Distribution Public pension (DB) Private pension (DB) Article

After the UK sell-off: what’s next for global markets and investors?

Co-Head of Investment Strategy Natasha Brook-Walters and Head of Macro Strategy John Butler discuss the implications of the recent sell-off in UK markets for global markets and investors.

By

Natasha Brook-Walters

event October 2022

Article

2022-12-30

Global Industry Research Inflation Geopolitics Large-cap Mid-cap Equity Energy Utilities Europe WELLSaid Podcast Brand Podcast

Eyes on Ukraine: Europe's energy crisis

The war continues to exacerbate the twin crises of energy availability and affordability. We explore how the situation may take shape from here.

By

Tim Casaletto

event September 2022

25:30 min

Podcast

Volatility Fiscal policy Monetary policy Currency Interest rates Economic cycle United Kingdom Article

UK in the eye of the storm: which countries might be next?

Macro Strategist John Butler provides his latest take on what's happening in the UK and its broader global implications.

By

event September 2022

Article

2022-12-31

a shiftting macro landscape qe china and europe

China Monetary policy Geopolitics Alternatives investing Volatility Economic cycle Americas APAC EMEA Article

A shifting macro landscape: QE, China, and Europe

We explore the changing macro environment, highlighting the investment implications of the end of quantitative easing programs, the state of the Chinese cycle, and an evolving outlook on Europe.

By

event August 2022

Article

2023-08-31

Outlook Inflation Volatility Economic cycle Liquid alternatives & hedge funds Equity Multi-asset Article

Mid-2022 Global Economic Outlook

We believe heightened geopolitical uncertainty, and the new macro environment of deglobalization, higher inflation, greater global cyclicality and volatility will disrupt and drive markets.

Multiple authors

event June 2022

Article

2023-07-31

Geopolitics Russia Europe Fiscal policy Monetary policy Energy Article

How will Russia’s invasion of Ukraine transform the euro area? Four potential paths

As the tragedy in Ukraine unfolds, Macro Strategist John Butler assesses possible implications of the conflict for Europe and the euro area. He outlines four potential paths.

By

event March 2022

Article

2023-03-31

Europe Inflation

Euro area: Challenging long-held assumptions

We believe 2022 will be the year when macroeconomic and political developments challenge two deep-rooted misperceptions about the euro area:

By

event February 2022

2022-04-30

Macro and market Inflation Wellington on Washington and the World Content CoE Program Global Program USA Article

Could “Liberation Day” trigger a shift in capital flows?

John Butler discusses groundbreaking US tariffs, their impact on capital flows, and the changing investor perception of the US and Europe.

By

event April 2025

3 min

Article

2026-05-31

Outlook Economic cycle Geopolitics Inflation Macro Article No Optimizely

Global Economic Outlook

Our macro strategists continue to expect that the interlinkages between countries, central bank policies, and market pricing will change, creating potentially attractive opportunities for active portfolio management and security selection.

Multiple authors

event November 2024

Article

2025-11-30

Macro and market Monetary policy Outlook Content CoE Program Global Program Article

The year of uncertainty: 5 macro themes to watch in 2025

Macro Strategists John Butler and Eoin O’Callaghan outline five macro themes for investors to watch in 2025 in a year they see defined by exceptional uncertainty and an extraordinary macroeconomic backdrop.

By

event November 2024

6 min

Article

2025-11-30

ActiveViews Macro and market Elections Wealth Program Market commentary Event replay

Markets in 2025: asleep at the wheel or in the driving seat?

Watch the conversation with Head of Macro Strategy John Butler as he discusses recent macro events and potential 2025 market outcomes for investors.

By

Will Lockhart

event November 2024

25 min

Event replay

2025-11-30

Macro and market Interest rates Monetary policy Content CoE Program Global Program Article

Can central bank independence survive?

Can central bank independence survive? Macro Strategist John Butler discusses the challenges faced by central banks in an increasingly fraught political environment and how investors should adjust.

By

event October 2024

5 min

Article

2025-09-30

Macro hedge funds Diversification Macro and market Hedge funds Fiscal policy Interest rates Macro Monetary policy WELLSaid Podcast Podcast Brazil Canada Mexico USA APAC Asia Australia China India Japan EMEA Africa Europe France Germany Italy Russia United Kingdom Emerging markets Liquid alternatives & hedge funds Brand

Macro investing in a changing world

Head of liquid alternatives and hedge funds, Mark Sullivan, and investment director of diversifying strategies, Chris Perret, share their views on why the multidimensionality of macro investment approaches may help provide investors a smoother path forward amid an increasingly uncertain macro and geopolitical backdrop.

By

Christopher Perret, CFA, CAIA

event May 2024

31:49 min

Podcast

Macro and market Japan Fixed income Equity Macro Interest rates Article

Four questions for investors after Japan’s historic hike

With the Bank of Japan having finally moved out of negative rates, Macro Strategist John Butler identifies the four key questions he believes investors should focus on.

By

event April 2024

5 min

Article

2025-04-30

Macro and market Portfolio strategy Fixed income Macro Article

Back to the future: a new economic era

Macro Strategist John Butler explores why he believes the old macroeconomic model is broken and how best to navigate a new era of investing.

By

event March 2024

5 min

Article

2025-01-31

Macro and market Economic cycle Active management Fixed income Multi-asset Macro Video

How to reposition for a new economic era?

In this short video, Macro Strategist John Butler outlines the key features of the new economic era we are now entering.

By

event March 2024

4 min

Video

2025-03-31

Macro and market Economic cycle Portfolio strategy Multi-asset Macro Market commentary Thematic exposure Outlook Article

Trends and transformation distilled: Our 2024 outlook in brief

Our experts explore investment opportunities and risks for the year ahead.

Multiple authors

event February 2024

Article

2025-02-28

Germany Macro and market Fixed income Macro Fiscal policy Article

Why structural change in Germany may impact investors globally

Macro Strategists John Butler and Eoin O’Callaghan discuss why they believe the structural changes currently underway in Germany will impact investors globally.

By

event January 2024

Article

2025-01-31

Europe Inflation Economic cycle Outlook No Optimizely Monetary policy Interest rates Fiscal policy Multi-asset Article

Why Europe could surprise in 2023

Eoin O’Callaghan and John Butler discuss the contrasting prospects of the Euro Area and the UK and why 2023 could bring positive surprises in the region.

By

event December 2022

Article

2023-12-31

Inflation Geopolitics Volatility Alternatives investing Economic cycle Climate Liquid alternatives & hedge funds Hedge funds Video

Perspectives on today’s alternative investment environment

Take a quick tour of the alternative investment environment with investors from across our macro research and hedge fund teams, as they explore the geopolitical landscape, macro volatility, and key trends like climate-change adaptation and digital tokenization.

Multiple authors

event December 2022

Video

2023-11-30

Inflation Volatility Economic cycle Alternatives investing Outlook No Optimizely Multi-asset Fixed income Equity Liquid alternatives & hedge funds Video

A new economic era: Why inflation, volatility, and cycles are back

Macro Strategist John Butler argues that a seismic global shift is underway that will disrupt the macro dynamics of the past two decades, challenging long-held investment assumptions.

By

event November 2022

Video

2023-12-31

Volatility Inflation United Kingdom Defined contribution (DC) Distribution Public pension (DB) Private pension (DB) Article

After the UK sell-off: what’s next for global markets and investors?

Co-Head of Investment Strategy Natasha Brook-Walters and Head of Macro Strategy John Butler discuss the implications of the recent sell-off in UK markets for global markets and investors.

By

Natasha Brook-Walters

event October 2022

Article

2022-12-30

Global Industry Research Inflation Geopolitics Large-cap Mid-cap Equity Energy Utilities Europe WELLSaid Podcast Brand Podcast

Eyes on Ukraine: Europe's energy crisis

The war continues to exacerbate the twin crises of energy availability and affordability. We explore how the situation may take shape from here.

By

Tim Casaletto

event September 2022

25:30 min

Podcast

Volatility Fiscal policy Monetary policy Currency Interest rates Economic cycle United Kingdom Article

UK in the eye of the storm: which countries might be next?

Macro Strategist John Butler provides his latest take on what's happening in the UK and its broader global implications.

By

event September 2022

Article

2022-12-31

China Monetary policy Geopolitics Alternatives investing Volatility Economic cycle Americas APAC EMEA Article

A shifting macro landscape: QE, China, and Europe

We explore the changing macro environment, highlighting the investment implications of the end of quantitative easing programs, the state of the Chinese cycle, and an evolving outlook on Europe.

By

event August 2022

Article

2023-08-31

Outlook Inflation Volatility Economic cycle Liquid alternatives & hedge funds Equity Multi-asset Article

Mid-2022 Global Economic Outlook

We believe heightened geopolitical uncertainty, and the new macro environment of deglobalization, higher inflation, greater global cyclicality and volatility will disrupt and drive markets.

Multiple authors

event June 2022

Article

2023-07-31

Geopolitics Russia Europe Fiscal policy Monetary policy Energy Article

How will Russia’s invasion of Ukraine transform the euro area? Four potential paths

As the tragedy in Ukraine unfolds, Macro Strategist John Butler assesses possible implications of the conflict for Europe and the euro area. He outlines four potential paths.

By

event March 2022

Article

2023-03-31

Europe Inflation

Euro area: Challenging long-held assumptions

We believe 2022 will be the year when macroeconomic and political developments challenge two deep-rooted misperceptions about the euro area:

By