December core PCE will be the data highlight; U.S. rates are creeping higher ahead of the data; Q4 GDP data are worth discussing; December CFNAI shows the economy is growing below trend; Colombia is expected to hike rates 100 bp to 13.0%; Spain reported Q4 GDP; Brexit talks are reportedly progressing well; Scottish politics are heating up; January Tokyo CPI ran hot; it is becoming harder and harder for the BOJ to justify current accommodation; Australia reported Q4 PPI

U.S. financial conditions continue to loosen; December Chicago Fed National Activity Index will be important; Q4 GDP data will also be of interest; regional Fed manufacturing surveys will continue to roll out; BOC hiked rates 25 bp to 4.5% but signaled a pause; Chile is expected to keep rates steady at 11.25%; ECB hawks appear to have locked in 50 bp hikes at the next two meetings; U.K. CBI January distributive trades survey was very weak; South Africa is expected to hike rates 50 bp to 7.5%; major bond index is removing JGBs due to liquidity issues; the IMF said the BOJ should consider more flexibility in long-term yields; it clearly does not believe that the current YCC regime is sustainable as inflation tops 4%

BBH’s global securities lending team shares its demand predictions

Data Down Under support our view that markets continue to underestimate central bank tightening; markets continue to fight the Fed despite what we see as a similar dynamic unfolding here in the U.S.; January survey readings came in better than expected yesterday; BOC is expected to hike rates 25 bp to 4.5%; Germany reported January IFO business climate; U.K. reported PPI data for both November and December; Japan’s Cabinet Office downgraded its monthly economic assessment in January; Australia December and Q4 CPI data ran hot; New Zealand reported Q4 CPI data; Thailand hiked rates 25 bp to 1.5%, as expected

BBH Private Banking Chief Investment Officer Suzanne Brenner and Deputy Chief Investment Officer Justin Reed review the markets and provide an update on our current portfolio positioning and priorities.

Fed expectations are drifting sideways given that there are no Fed speakers this week; we get some key January survey readings; we are skeptical regarding reports of a currency union in South America; Brazil reports mid-January IPCA inflation; Mexico reports mid-January CPI data; eurozone reported firm preliminary January PMIs; Germany reported February GfK consumer confidence; U.K. reported soft preliminary January PMIs and December public sector net borrowing; Hungary is expected to keep the base rate steady at 13.0%; Tokyo Electric Power is seeking government approval to raise household power rates by about 30%; Japan reported preliminary January PMIs and December department store sales; Australia reported preliminary January PMIs

There are no Fed speakers this week due to the media embargo ahead of the January 31-February 1 FOMC meeting; the U.S. yield curve remains deeply inverted; German officials are getting a bit too optimistic; the U.K. is still facing tight power markets as cold weather hits; Fitch cut the outlook for Hungary’s sovereign rating to negative to stable; minutes from the BOJ’s December meeting contained a surprise; BOJ tightening expectations have steadied; New Zealand has a new Prime Ministe

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

U.S. financial conditions continue to loosen; Fed officials remain hawkish; housing data should show further weakness; weekly jobless claims show continued strength in the labor market; the account of the ECB’s December 15 meeting tilted hawkish; ECB President Lagarde remains hawkish; U.K. reported very weak December retail sales; BOE Governor Bailey sounded a bit less hawkish; Japan reported December national CPI; BOJ tightening expectations have steadied; China’s commercial banks kept their LPRs steady, as expected

December PPI and retail sales data are worth discussing; the Fed released its Beige Book report; we think recent data cement a 25 bp hike February 1; Fed officials have split into two distinct groups; regional Fed manufacturing surveys for January continue rolling out; weekly jobless claims will be of interest; the U.S. debt ceiling remains an underappreciated risk; ECB publishes the account of its December 15 meeting; ECB officials remain hawkish; U.K. January GfK consumer confidence will be reported; Norges Bank kept rates steady at 2.75%; Turkey kept rates steady at 9.0%, as expected; Japan reported December trade data; Australia reported weak December jobs data; New Zealand Prime Minister Jacinda Ardern announced she is stepping down; Malaysia unexpectedly kept rates on hold at 2.75%; Indonesia hiked rates 25 bp to 5.75%, as expected

Global bond yields are lower today after the BOJ decision; December PPI will be the highlight; December retail sales will also be important; the Fed releases its Beige Book report; the U.S. manufacturing sector continues to weaken; reports suggest the ECB may downshift sooner than expected; ECB tightening expectations have fallen; U.K. reported December CPI; BOE tightening expectations remain steady; the two-day BOJ meeting ended with no change in policy; BOJ tightening expectations have fallen; new forecasts were released in the Outlook Report; November core machine orders were very weak

U.S. financial conditions continue to loosen; we continue to believe markets are underestimating the Fed; regional Fed manufacturing surveys for January start rolling out; Canada highlight will be December CPI; BOC Q4 business outlook survey was released yesterday and came in weak; Germany reported firm January ZEW readings; ECB officials remain hawkish; the U.K. reported mixed labor market data; BOE tightening expectations remain steady; two-day BOJ started today and ends tomorrow; new forecasts will be released in the Outlook Report; Japan reported firm December PPI and machine tool orders; China reported firmer December IP and retail sales and Q4 GDP data

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

U.S. yields remain lower in the wake of the CPI data; December CPI data supported the less hawkish Fed theme; Fed officials remain hawkish; preliminary January University of Michigan consumer sentiment will be closely watched; weekly jobless claims suggest the labor market remains strong; November eurozone IP and trade data were reported; the monthly U.K. data dump began; Sweden December CPI ran hot; markets continue to test the BOJ; BOJ tightening expectations remain elevated; China reported soft December trade data; Korea hiked rates 25 bp to 3.5%, as expected

U.S. yields remain subdued ahead of the CPI data; we continue to believe markets are underestimating the Fed; weekly jobless claims and December budget statement will also be reported; Peru is expected to hike rates 25 bp to 7.75%; ECB survey shows eurozone inflation expectations falling; Brexit is back in the news and in a good way; the BOE has sold off its emergency bond purchases from last fall; press reports suggest the BOJ will review the side effects of its ultra-loose monetary policy; BOJ tightening expectations have risen sharply; November current account data are worth discussing; Australia reported November trade data; China reported December CPI and PPI data

Markets should take heed of recent signs that global inflation may not have peaked yet; indeed, we continue to believe markets are underestimating the Fed; there are no Fed speakers nor U.S. data today; eurozone countries reported mixed data; ECB officials remain hawkish; BOJ survey showed a deteriorating outlook for households; BOJ tightening expectations remain elevated; Australia November CPI ran hot; Australia also reported firm November retail sales

U.S. yields remain under pressure as the notion of a Fed pivot continues to gain credence; Fed officials remain hawkish; we continue to believe markets are underestimating the Fed; it's hard to reconcile a risk rally with deep U.S. yield curve inversion; Brazil reports December IPCA inflation; France reported firm November IP; ECB officials remain hawkish; U.K. labor market appears to be weakening significantly; BOE officials are tilting more dovish; Norway reported December CPI; December Tokyo CPI ran hot; BOJ tightening expectations remain elevated; China reported mixed December money and loan data

BBH Senior Wealth Planners Ali Hutchinson and Stacia Kroetz outline the importance of having a flexible estate plan. The future is unknowable, but centering your plan on your values and communicating regularly with your fiduciary and your family will set your family on the path to success.

Markets are still digesting Friday’s data; the U.S. economy remains firm overall; the notion of a Fed pivot continues to gain credence; we continue to believe markets are underestimating the Fed; Brazil political risk has ramped up again; Mexico reports December CPI; Germany reported November IP; ECB tightening expectations steadied; survey suggests U.K. manufacturing firms are likely to cut jobs and output due to higher energy costs despite government support; BOE tightening expectations remain steady; reports suggest China will boost the quota for special local government bond issuance this year to a record high CNY3.8 trln

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

December jobs report will be the highlight; many indicators suggest the U.S. labor market remains firm; we will also get December ISM services PMI; Fed messaging remains hawkish; we continue to believe markets are underestimating the Fed; the U.S. House remains without a speaker; Canada also reports jobs data; December eurozone inflation data was decidedly mixed; ECB tightening expectations have fallen; Germany reported November retail sales and factory orders; U.K. reported weak December construction PMI; BOE tightening expectations have risen again; Japan reported weak November labor cash earnings; reports suggest the BOJ sees little need to make another adjustment to YCC; the market continues to test the BOJ’s commitment to YCC; report suggest China will soon roll back existing restrictions on property developers

Senior Wealth Planner Ali Hutchinson breaks down several estate planning techniques for individuals who have maxed out their available gift tax exemptions, as well as techniques that can be used to enhance gifts that have already been made and trusts that are already in place.

FOMC minutes contained a strong message to the markets; we believe Fed tightening expectations still need to adjust higher; ADP private sector job estimate will be the data highlight; JOLTs data suggest the labor market remains strong; December ISM manufacturing PMI was reported; Banco de Mexico releases its minutes; eurozone inflation continues to ease; ECB tightening expectations have fallen; Germany reported weak November trade data; U.K. reported final December services and composite PMIs; BOE tightening expectations have also fallen; Egypt devalued for the third time in less than a year; JGB yields continue to rise; BOJ tightening expectations remain elevated; Caixin reported firm December services and composite PMIs

Alison Hutchinson and Melineh Ounanian outline some ideas for how trust beneficiaries can learn more about their roles and responsibilities.

FOMC minutes will be very important; December ISM manufacturing PMI will be the data highlight; November JOLTS job openings will provide another read on the labor market; the House of Representative remains without a speaker; Lula 2.0 continues to make investors nervous; eurozone inflation readings continue to surprise to the downside; ECB tightening expectations have fallen; firmer eurozone final December services and composite PMIs were reported; BOE tightening expectations have also fallen; Poland is expected to keep rates steady at 6.75%; BOJ Governor Kuroda remains dovish; BOJ tightening expectations remain elevated; the market continues to test the BOJ’s commitment to YCC; reports suggest China may resume some imports of Australian coal

Many have questions about the financial and tax ramifications of the decision to get married. We discuss the potential benefits and drawbacks to a legal marriage from that perspective.

Managing Director Brett Sovine discusses section 6166 of the Internal Revenue Code, which in certain situations permits the executor of an estate to defer federal estate tax on a closely held business following an owner’s death.

Fed tightening expectations still need to adjust; only minor data will be reported today; eurozone inflation data take center stage; Germany reported December unemployment data; U.K. final December manufacturing PMI rebounded; Turkey reported December CPI data; the yen continues to gain as BOJ tightening expectations remain elevated; Caixin reported soft December manufacturing PMI

How can we continue to foster family togetherness in 2023? Ali Hutchinson and Laura Salibello share five resolutions to help your family stay connected this year.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

Portfolio Manager, Gregory Steier, provides an analysis of the investment environment and most recent quarter-end results of the Municipal Fixed Income strategy.

Portfolio Manager, Nicholas Haffenreffer provides the most recent quarter-end results of the US Large Cap Equity Strategy.

Co-Portfolio Managers, Andrew Hofer, Neil Hohmann, and Paul Kunz provide the most recent quarter-end results of the Multisector Fixed Income Strategy.

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent quarter-end.

Co-Portfolio Managers, Andrew Hofer, Neil Hohmann and Paul Kunz provide an analysis of the investment environment and most recent quarter-end results of the Taxable Fixed Income Strategy.

Portfolio Managers, James Evans & Jorge Aseff, provide an analysis of the investment environment and most recent quarter-end results of the Inflation-Indexed Fixed Income strategy.

Portfolio Managers, Neil Hohmann, Chris Ling, and Andrew Hofer provide the most recent quarter-end results of the Structured Fixed Income strategy.

Co-Portfolio Managers, Andrew Hofer, Neil Hohmann and Paul Kunz, provide the most recent quarter-end results of the Core Plus Fixed Income Strategy.

Co-Portfolio Managers, Andrew Hofer and Neil Hohmann provide the most recent quarter-end results of the Limited Duration Fixed Income Strategy.

November core PCE will be the highlight; markets still don’t believe the Fed; weekly jobless claims suggest the labor market remains robust; we got the final revision to Q3 GDP; housing data are likely to show continued weakening; Canada reports October GDP; we think markets are overestimating BOE and ECB tightening; U.K. surveys suggest trouble for U.K. households; BOE tightening expectations may need to adjust lower; Japan reported November national CPI; markets are starting to price in possible BOJ liftoff in 2023; China Covid cases appear to be exploding

Consumer confidence has recovered sharply; the release of the November Chicago Fed NAI was suspended; we get another revision to Q3 GDP; weekly jobless claims will be in focus; Chile central bank minutes will be released; ECB tightening expectations are starting to ebb; U.K. reported Q3 current account and final GDP data; Turkey kept rates steady at 9.0%, as expected; reports suggest Japan will submit a record budget for FY23; Indonesia hiked rates 25 bp to 5.5%, as expected

The BOJ’s surprise move has helped push global yields higher; is the carry trade dead?; markets are still fighting the Fed; housing data are likely to show continued weakness; Canada reports November CPI; Germany reported January GfK consumer confidence; unlike the Fed, the market seems to believe the ECB; U.K. fiscal trajectory is deteriorating; Czech National Bank is expected to keep rates steady at 7.0%; Japan has already seen tighter financial conditions as yields rose and the yen gained; WIRP suggests a rate hike could come as soon as the March 9-10 meeting; markets are inching closer to a test of the new trading band; Korea reported weak trade data for the first twenty days of December

Major central banks continue to add to market volatility; the last lone holdout to global monetary tightening just blinked; markets are still digesting last week’s FOMC decision; CFTC positioning data through December 13 came out late last Friday; housing data are likely to show continued weakening; Canada report October retail sales; EU finally agreed on a deal to cap natural gas prices; ECB officials remain hawkish; Hungary is expected to keep the base rate steady at 13.0%; two-day BOJ meeting ended with an unexpected tweak to YCC; markets will surely test the new trading band; so far, the action has been in FX and stocks; RBA released dovish minutes; China commercial banks left LPRs unchanged, as expected; Taiwan reported very weak November export orders

Markets are still digesting last week’s FOMC decision; Germany reported a firm December IFO survey; ECB officials remain hawkish; Italian spreads are widening again; U.K. CBI reported its December industrial trends survey; the two-day BOJ meeting began today and should end tomorrow with another dovish hold; China reported two Covid deaths over the weekend, the first since reopening measures were taken; Malaysia Prime Minister Anwar Ibrahim won a confidence vote in parliament

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

BBH’s Janet Du Chenne speaks to SWIFT’s Juliette Kennel about what firms need to do to prepare for the adoption of a new messaging standard, as well as the downstream benefits and impacts

Markets are still repricing the Fed’s expected tightening path; the Fed narrative finally seems to be moving our way; yet U.S. yield have barely budged; November retail sales data came in soft; S&P Global reports preliminary December PMI readings; Colombia is expected to hike rates 100 bp to 12.0%; ECB hiked rates 50 bp to 2.5%, as expected; further details about Quantitative Tightening were revealed; the fireworks came when Madame Lagarde easily out-hawked Fed Chair Powell; reports suggest more than a third of the ECB policymakers favored a 75 bp hike; eurozone preliminary December PMIs were reported; U.K. reported weak November retail sales; U.K. preliminary December PMIs were mixed; Russia is expected to keep rates steady at 7.5%; Japan reported mixed preliminary December PMIs; on the other hand, Australia reported soft preliminary December PMIs; China announced the creation of a new state-owned company that will buy iron ore for its domestic steel companies

Participants in our latest webinar heard that to retain and attract investors, it is critical that a manager aligns its people, policies and procedures to support its ESG principles.

Do you want to be more philanthropic but have no idea where to begin? Getting started with philanthropy can be daunting at first, but adding structure to your approach can help you feel less overwhelmed and allow you to create a roadmap.

In our winter Next Gen Spotlight, Mackenzie Dowling sits down with Christina Pardy, founder and CEO of Sh*t That I Knit, to talk about turning your side hustle into a full-time job and giving back to others all at the same time.

Private Client Associate Mary Burton is part of our Next Generation Experience team in Charlotte, North Carolina. Here, she discusses her experience in making philanthropy part of her life and shares insights from other BBHers about how they do the same.

The two-day FOMC meeting ended with a 50 bp hike in the target range to 4.0-4.75%, as expected; as the dust settled, the market eventually focused on the entirety of Powell’s message, which was overwhelmingly hawkish; the Fed narrative finally seems to be moving our way; retail sales data will be the data highlight; we get the first survey readings for December; Mexico is expected to hike rates 50 bp to 10.5%; ECB is expected to hike rates 50 bp to 2.5%; further details about QT are expected; BOE hiked rates 50 bp to 3.5%, as expected; SNB hiked rates 50 bp to 1.0%, as expected; Norges Bank hiked rates 25 bp to 2.75%, as expected; Japan reported soft November trade data; Australia reported firm November jobs report data; New Zealand reported firm Q3 GDP data; China reported weak November IP and retail sales data; Philippines hiked rates 50 bp to 5.5%, as expected; Taiwan hiked rates 12.5 bp to 1.75%, as expected

The two-day FOMC meeting ends today; financial conditions are the loosest since mid-August; we believe the current Fed narrative remains too dovish; new forecasts will be released; November CPI data were certainly welcome but really shouldn’t impact today’s decision; Brazil President-elect Lula is testing the market’s patience; reports suggest the ECB’s updated inflation forecasts will remain above target through 2025; U.K. reported softer November CPI data; Sweden November CPI is still running hot; Japan reported weak October core machine orders; the Q4 Tankan survey was mixed; reports suggest the BOJ is open to a policy review next year; New Zealand reported Q3 current account data; the New Zealand government issued new macro forecasts; reports suggest China will proceed with its key economic policy meeting tomorrow

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

November PPI will be the highlight; the current Fed narrative remains too dovish; University of Michigan consumer sentiment will also be watched; Brazil reports November IPCA inflation; eurozone banks continue to return TLTRO funding; November BOE survey shows inflation expectations still rising; Norway November CPI came in soft; potential nominee for BOJ Governor Takehiko Nakao called for a policy review; Australia announced caps on domestic energy prices; China reported November CPI and PPI data

The Fed narrative remains too dovish; BOC hiked rates 50 bp to 4.25%, as expected; Mexico reports November CPI; Peru appears to have survived an attempted coup; ECB staff are reportedly discussing possible actions after rejecting a pay offer; ECB tightening expectations have steadied; Japan reported final Q3 GDP data; October current account data are worth discussing

Markets are searching for direction as we await November PPI data Friday; Fed expectations have solidified after Powell’s speech last week; BOC is expected to hike rates 50 bp to 4.25%; Brazil is expected to keep rates steady at 13.75%; Peru is expected to hike rates 25 bp to 7.5%; reports suggest that the ECB staff union is unhappy with planned wage hikes; eurozone countries reported some key data; Poland is expected to keep rates steady at 6.75%; BOJ board member Nakamura remains dovish; Australia reported Q3 GDP data; China continues to ease Covid restrictions; reports suggest China policymakers are debating a 2023 growth target near 5%; China reported soft November trade data; India hiked the repo rate 35 bp to 6.25%, as expected

November ISM services PMI was firm; the U.S. economy remains resilient; the Fed narrative continues to shift; Chile is expected to keep rates steady at 11.25%; ECB Chief Economist Lane suggested inflation is near the peak; ECB tightening expectations have solidified; Germany reported October factory orders; U.K. reported soft November construction PMI; Japan reported October cash earnings and household spending; BOJ Governor Kuroda remains dovish; RBA hiked rates 25 bp to 3.10%, as expected; Australia reported Q3 current account data

The Fed narrative has clearly shifted more dovish after Powell’s speech last week; November ISM services PMI will be the highlight today; ECB tightening expectations have solidified; final November services and composite PMI readings were virtually unchanged; eurozone reported soft October retail sales; the CBI set forth a dire outlook for the U.K.; Turkey reported November CPI; Japan and Australia reported slightly improved final November services and composite PMI readings; Caixin reported soft November services and composite PMI readings

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

November jobs data will be the highlight; ISM manufacturing PMI confirmed recent weakness in other surveys; the Chicago Fed appointed Austan Goolsbee to replace the retiring Charles Evans in January; Canada highlight is also November jobs data; ECB Governor Lagarde said it’s crucial to anchor inflation expectations; eurozone country data continue to come in weak; U.K. Labour party handily won a by-election; BOJ board member Naoki Tamura called for a review of the bank’s policies; PBOC Governor Yi Gang said it is focused on growth

Fed Chair Powell was surprisingly timid; U.S. data yesterday came in soft; October core PCE will be important; ISM manufacturing PMI will be closely watched; Chicago PMI came in much weaker than expected; Germany reported weak October retail sales; eurozone final November manufacturing PMI readings were reported; ECB tightening expectations have fallen; Japan reported final November manufacturing PMI; China has loosened some Covid restrictions

November ADP private sector job estimate will be the highlight; November Chicago PMI will be closely watched; the Fed releases its Beige Book report for the December 13-14 FOMC meeting; Chair Powell’s policy speech today will be key; Banco de Mexico releases its quarterly inflation report; eurozone November CPI data cooled; ECB tightening expectations have eased; key eurozone country data were weak; BOE said that Brexit is partly to blame for the current high inflation in the U.K.; BOJ did not intervene in FX markets in November; Japan reported soft October IP; Australia October CPI data came in soft; China reported weak official November PMI readings; China warned it will crack down on hostile forces; Thailand hiked rates 25 bp to 1.25%, as expected

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Ellen Perry, Ali Hutchinson and Laura Salibello lay out five questions to ask during the holidays to spark discussion around the dinner table and provide tips for how to approach these conversations.

Fed officials reman hawkish; November survey readings continue to roll out; minor data will be reported today; Canada reports Q3 GDP; eurozone November CPI data have started rolling out; ECB tightening expectations have fallen; BOE will start selling the gilts it bought under its emergency program; BOE tightening expectations have fallen; Switzerland reported soft Q3 GDP data; Japan reported October labor market and retail sales data; China health officials took a conciliatory tone regarding Covid restrictions

We review why a charitable mission is important and provide guidance on how to approach crafting a mission statement that enables you to take philanthropy beyond just “being charitable” or “giving back.”

The dollar is not benefiting from the risk off sentiment today; we get some important November survey readings this week; Fed expectations remain steady; ECB officials remain hawkish; U.K. CBI reported a very weak November distributive trades survey; BOE tightening expectations have steadied; Australia reported weak October retail sales; RBNZ Assistant Governor Silk sounded hawkish; protests against Covid restrictions are spreading across China; oil is trading at new lows for this cycle

We discuss the ways in which the worlds of investing and philanthropy are becoming more integrated and the importance of cross-generational conversations around this topic. Article written by Kaitlin Barbour.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

We outline key year-end opportunities as it relates to gifting, income tax planning, retirement planning, and planning in a high interest rate environment, as well as provide a year-end checklist based on your goals.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

U.S. yields are starting to stir; Fed speakers remain hawkish; GDP growth remains strong so far in Q4; regional Fed manufacturing surveys for November continue rolling out; weekly jobless claims will be of interest; President-elect Lula is sending all the wrong signals; U.K. Chancellor Hunt delivered his budget statement; BOE tightening expectations are still adjusting; the ECB may slow down the pace of tightening with a 50 bp hike in December; Japan reported October trade data; Australia reported firm October jobs data; RBA tightening expectations have picked up slightly; Indonesia hiked rates 50 bp to 5.25%, as expected; Philippines hiked rates 75 bp to 5.0%, as expected

• October retail sales came in firm; U.S. yields remain subdued ahead of the data; Canada reported mixed October CPI data; it appears that the missile hit in Poland was a tragic accident; U.K. reported October CPI data; ECB warned of rising risks for banks, governments, and households; ECB tightening expectations have been pared back; Japan reported soft September core machine orders

October PPI mirrored last week’s CPI; regional Fed manufacturing surveys for November started rolling out; U.S. yields reacted accordingly to the PPI; U.S. yield curve remains inverted; U.K. reported mixed labor market data; BOE tightening expectations are still adjusting; German November ZEW survey came in firm; ECB tightening expectations have been pared back; Japan Q3 GDP unexpectedly contracted; the RBA found that its forward guidance during the pandemic resulted in communication challenges; China reported weak October IP and retail sales data

In this issue of Owner to Owner, we speak with the team behind Peay Vineyards, share a strategy for managing your business’s liquidity during times of uncertainty, and look at fostering resilience in the workplace.

Michael Conti, Neriah Ray-Saunders, and Christine Hourihan provide an overview of the economy, credit markets, and private equity and mergers and acquisitions markets.

In the feature article of this issue of Owner to Owner, we sit down with the team behind Peay Vineyards – Vanessa Wong, Nick Peay, and Andy Peay – to discuss what drove their interest in wine, how they approach winegrowing and winemaking, and how they differentiate themselves in a competitive industry.

BBH Managing Director Lewis Hart shares a three-pronged strategy for effectively managing your business’s liquidity during times of volatility and uncertainty.

BBH Senior Wealth Planner Ross Bruch explores the two ways businesses and other organizations can create a resilient staff: growing resilience within an organization’s existing workforce and hiring candidates that demonstrate resilient character traits.

Markets are still digesting last week’s CPI report; the market reaction last week seems outsized relative to the actual repricing of Fed tightening expectations; the U.S. yield curve remains inverted; Fed speakers this week will be closely watched; reports suggest U.K. Chancellor Hunt will delay the bulk of planned fiscal tightening until after the next election; BOE tightening expectations are still adjusting; eurozone reported firm September IP; ECB tightening expectations have been pared back; BOJ Governor Kuroda said he will be looking at both upside and downside risks as the bank sets policy; China unveiled a 16-point rescue package for the property sector; Presidents Biden and Xi met in an effort to ease tensions

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

The future of financial services is a story of two races: a race to automate for scale and resiliency, and a race to attract the best human capital. Winning strategies recognize that success needs both.

U.S. yields dropped sharply after the surprise CPI readings; several Fed speakers seem willing to slow the pace of hikes after CPI; future Fed decisions remain data dependent; the semiannual U.S. Treasury Department FX report gave a pass to recent BOJ intervention; preliminary November University of Michigan consumer sentiment will be the highlight; EU updated its macro forecasts; ECB tightening expectations have been pared back; the monthly U.K. data dump began; BOE tightening expectations need to adjust lower; Japan reported October PPI; China eased some Covid Zero restrictions; PBOC said it will maintain a reasonable rate of growth in money and credit

Head of Philanthropic Advisory Kerri Mast examines four reasons why people give to charity other than tax benefits – which research has shown are typically not the primary driver of charitable giving.

What’s needed before a region with 41 trading exchanges and 31 settlement infrastructures can consider a shorter settlement cycle?

U.S. yields are edging higher; future Fed decisions remain data dependent; U.S. midterm elections today could have important implications for 2023; ECB officials remain hawkish; eurozone and Italy reported September retail sales; BOE Chief Economist Pill warned that recent market turmoil led to a de-anchoring of inflation expectations; BOE tightening expectations need to adjust lower; BOJ released the summary of opinions for the October 27-28 meeting; MOF data showed that the BOJ only intervened once in September; Japan also reported September cash earnings and household spending; RBNZ Governor Adrian Orr was appointed to a second 5-year term; RBNZ tightening expectations remain heightened; Taiwan reported October CPI and trade data

Taxable municipal bonds offer an excellent way to diversify broader taxable portfolios through high-quality, durable credits that frequently offer higher yields than comparably rated corporate debt.

Friday’s jobs data validated the Fed’s hawkish stance; the rise in U.S. yields has stalled; many Fed speakers will spread the word this week; future Fed decisions remain data dependent; ECB tightening expectations have been pared back; Germany reported firm September IP; BOE tightening expectations still need to adjust lower; Japan will reportedly have to issue only JPY5.0 trln in FY22 to finance the JPY29.1 extra budget announced last week; China reported weak October trade data

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

Senior Wealth Planner Kerri Mast discusses developments regarding the extent to which trusts are protected from creditors in the event of divorce.

U.S. yields continue to move higher; the jobs report is the highlight; October ISM services PMI came in soft; Canada highlight is also jobs data; BOE hiked rates 75 bp to 3.0% but the forward guidance was very dovish; BOE tightening expectations need to adjust; final October eurozone services and composite PMI readings were firmer; Germany reported weak September factory orders; ECB tightening expectations have been pared back; RBA released its Statement on Monetary Policy; reports suggest China is working on a plan to halt its Covid airline restrictions

The two-day FOMC meeting ended with another 75 bp hike, as expected; Chair Powell’s press conference left no doubt as to the Fed’s commitment to tighten; U.S. yields are moving higher after the FOMC decision; ADP reported its private sector jobs estimate; October ISM services PMI will be the data highlight; tensions remain high in Brazil; BOE is expected to hike rates 75 bp to 3.0%; ECB officials remains hawkish; yet ECB tightening expectations have fallen back a bit; Norges Bank delivered a dovish surprise and hiked 25 bp to 2.5% vs. 50 bp excepted; Turkey reported October CPI; Czech Republic is expected to keep rates steady at 7.0%; Australia reported firm September trade data; China’s National Health Commission said Covid Zero remains the favored strategy to fight the pandemic; Malaysia hiked rates 25 bp to 2.75%, as expected

Relationship Manager Laura Salibello discusses how breaking down a pay statement into six simple steps can help parents explain taxes to their children.

The two-day FOMC meeting ends today and another 75 bp hike is expected; ADP reports its private sector jobs estimate; October ISM manufacturing PMI was better than expected; Brazil President Bolsonaro finally spoke to the nation yesterday; BOE QT began yesterday without a hitch; BOE is expected to hike rates 75 bp to 3.0% tomorrow; final eurozone October PMI manufacturing readings came in soft; Germany reported September trade and October unemployment data; ECB officials remain hawkish; exit polls suggest the Likud party and its allies won a solid majority in the Israeli Knesset; minutes from the September BOJ meeting tilted dovish; markets are repricing RBA tightening expectations; New Zealand reported firm Q3 labor market data; Korea reported October CPI

U.S. Treasury boosted its estimate for its borrowing needs for the three months through December; the two-day FOMC meeting begins today and ends tomorrow with an expected 75 bp hike; we get some labor market data ahead of Friday’s jobs report; key October survey data will continue to roll out; Brazil President Bolsonaro still has not conceded the race; BOE Quantitative Tightening (QT) begins today; ECB President Lagarde is trying to sound hawkish without being too specific; Israel goes to polls today for the fifth time in four years; energy prices in Japan may increase; RBA hiked rates 25 bp to 2.85%, as expected; Chinese equity markets jumped on rumors that Covid Zero rules may be loosened; Korea reported October trade data

Senior Wealth Planner Ross Bruch examines the role buy-sell agreements can play in helping family businesses plan for intrafamily succession.

U.S. yields are edging higher ahead of the FOMC meeting; key October survey data will be reported; former Brazilian President Lula won in a very close second round vote; eurozone October CPI came in hot; eurozone also reported Q3 GDP data; U.K. Office for National Statistics confirmed that the proposed energy price caps will reduce inflation; BOE is expected to hike rates 75 bp to 3.0% Thursday; reports suggest the BOJ recently spent JPY6.35 trln ($43 trln) supporting the yen; Japan reported September IP and retail sales; Australia reported September retail sales and private sector credit; China reported soft official October PMI readings

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Here's a look at the main drivers in Developed Markets this week.

Here's a look at the main drivers in Emerging Markets this week.

BBH Private Banking Chief Investment Officer Suzanne Brenner and Deputy Chief Investment Officer Justin Reed review the markets and provide an update on our current portfolio positioning and priorities.

We discuss factors that come into play when investing for endowments and foundations.

The U.K.’s Long Term Asset Fund initiative could be a strategic solution for pension schemes amid future volatility.

In this issue of Women & Wealth Magazine, we explore how to develop leaders in family businesses, examine how to make hybrid work successful for everyone and look at how we can foster motivation in those we love.

Adrienne Penta, executive director of the Center for Women & Wealth, and Ben Persofsky, executive director of the Center for Family Business, share insights gleaned from recent BBH research on how family businesses can be inclusive in developing future leaders.

In this issue’s “By the Numbers,” we look at the significant impact of family-owned businesses in the world and their communities, as well as how they are measuring up on diversity and inclusion.