S&P Global has launched Partner Perspectives, a thought-leadership initiative examining trends shaping global markets, with Vanguard as its inaugural research partner. The first report, “The Future of Capital Markets – Unlocking Potential Ahead,” explores shifts in global market structure across indexing, fixed income, and private markets.
Key findings include U.S. equity concentration reaching six-decade highs while broad benchmarks remain resilient, private credit assets more than doubling since 2020 with projections to exceed $3.3 trillion by 2029, and global bond markets demonstrating durability despite geopolitical tensions.
Greg Davis, President and Chief Investment Officer at Vanguard, said “rigorous analysis and long-term perspective are more essential than ever” as investors navigate stretched valuations and market shifts. The report was introduced at a joint event at the New York Stock Exchange featuring panel discussions on structural market trends.