A landmark US election, new stimulus in China, and growing geopolitical tensions means the second half of the 2020s will be markedly different from what we've seen so far. Growth, inflation, and interest rates in the world's economies are set to head in very different directions over the next 12 months. Profound changes are underway across a range of countries, asset classes, and sectors. Investors will need a different playbook.
Our 2025 Annual Outlook examines the different macro scenarios that could play out in 2025 and provides an insight into how we are looking to position across the world's major asset classes as we head into a new year.
The year ahead promises environment for financial investors, but it is clear earnings in many areas will improve and the global mood is positive.
A material shift in politics makes relation of the US economy our base case for 2025.
If 2024 was the year of elections, 2025 is the year when all of those decisions come home to roost. As the world’s major economies take increasingly divergent paths in search of growth - where should investors be looking for opportunities?
Download our guide to the year ahead for the global economy and major public and private market asset classes.
