War-driven energy shocks, sticky inflation, and an unusually split Fed are back at the center of the macro conversation. In this month’s Monthly Macro, William Blair macro analyst Richard de Chazal assesses what those dynamics, and the growing influence of AI, mean for bonds, equities, and portfolio risk.

In this episode of Biotech Breakthroughs, Matt Phipps, group head of biotech research, speaks with William Blair biotech analyst Myles Minter about how gene editing is moving from early hype toward clinically validated therapies. They discuss lessons from the first approved ex vivo product and highlight key 2026 catalysts across CRISPR, base editing, RNA editing, and DNA writing.

William Blair macro analyst Richard de Chazal unpacks the market implications of the U.S.–Iran conflict, discussing how the war is reshaping inflation and growth risks and challenging central banks’ playbooks, and why markets may be underpricing the possibility of a more prolonged disruption. Richard also touches on emerging stress in private credit beneath the surface.

William Blair macro analyst Richard de Chazal and co-head of technology, media, and communications research, Jason Ader, unpack the sharp selloff in software stocks and the growing fear around AI-driven disruption. They explore why the “software apocalypse” narrative may be overblown, how AI could ultimately expand the software market, and what investors should watch as winners and losers begin to separate.

William Blair macro analyst Richard de Chazal breaks down rising geopolitical tensions, sticky inflation risks, Fed policy uncertainty, and the durability of U.S. growth amid fiscal stimulus and the evolving AI-driven productivity cycle.

William Blair macro analyst Richard de Chazal discusses why 2026 looks brighter for the economy, exploring the impact of AI-driven investment, evolving policy risks, and the surprising strength of the American consumer.

*This episode was recorded December 16th, 2025

Tony Frascotti, William Blair's Head of Private Shares Trading, discusses the evolving landscape of private shares trading, highlighting market shifts, the expanding influence of AI and crypto sectors, and the changing dynamics of IPOs and liquidity for late-stage private companies.

*This episode was recorded December 8th, 2025

William Blair financial technology analyst Andrew Jeffrey discusses how stablecoins, regulatory clarity, and new payment rails are transforming global B2B transactions.

*This episode was recorded November 17, 2025

William Blair’s group head of healthcare technology and services analyst, Ryan Daniels, explores how artificial intelligence is revolutionizing healthcare revenue cycle management by automating financial workflows, reducing costs, and reshaping the industry’s future for providers and vendors.

William Blair macro analyst Richard de Chazal and group head of energy and power technologies Jed Dorsheimer explore the seismic changes reshaping the U.S. energy landscape as rising electricity costs and surging demand—especially from AI—put unprecedented pressure on the grid. The discussion also unpacks a five pillar plan for energy abundance, the balance between renewables and firm baseload power, and the economic and geopolitical forces driving a new era in energy markets.