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Perspectives and news
Economics and markets
AI exuberance: Economic upside, stock market downside
AI-driven exuberance may be justified for the economy but not so much for stocks. Read what the future might hold.
Our full library of perspectives
High-yield spread variations present alpha opportunities
Spreads for high-yield bonds are tight, but variation reveals opportunities for alpha beyond headline averages.
Understanding capital gains
Learn more about how capital gains generated by mutual funds and ETFs are taxed.
What the conventional economic wisdom is missing
Gold and tech stocks signal structural shifts—AI versus deficits. Vanguard’s Joe Davis outlines two paths ahead.
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Markets and economics
What determines equity returns
Explore macro insights and forecasts on what’s shaping global markets, policy paths, and investment strategy.
Looking beyond the Fed rate cut
Explore global economic outlooks and market trends shaped by inflation, policy shifts, and rate expectations.
Inflation from tariffs likely gradual
Tariff costs are likely to contribute to a gradual rise in inflation, but not the tariff cliff so many feared.
Data show labor market strength despite slower hiring
Hiring has slowed, but low layoff rates and solid income growth point to a labor market that remains strong.
Research spotlight
Financial advice economics: What SEC filings reveal about costs and services
Understanding advisory costs and services is key to maximizing long-term investor outcomes and financial success.
The Vanguard Retirement Outlook: Strong national progress, opportunities ahead
Vanguard Retirement Outlook: DC plans improve outcomes, suggest brighter future ahead for younger generations.
Charitable trusts: Balancing tax efficiency and philanthropy
Charitable trusts combine tax efficiency with philanthropy for strategic giving.
Principles for behavioral design: Nudging for better investor outcomes
Vanguard helps investors make smarter financial choices using behavioral science and digital design.
Setting the record straight: The truths about index fund investing
We dispel assertions tied to the growth of index fund investing and offer evidence that refutes key misperceptions.
