Investment Outlook 2025
Pushing the Boundaries
Our Investment Outlook covers all the big issues facing investors, from US economic policy and AI investing, to portfolio diversification, Chinese stimulus and European equity valuations.
Discover the factors behind the recent rise in US Treasury yields. Learn about structural shifts, market dynamics, and the Fed's role, offering insights into why core government bonds remain a hedge against recession risks over the medium term.
Explore the potential impact of US tariffs on global markets, and learn how to build more resilient portfolios that can protect against varied risks and capitalise on opportunities amid the current economic uncertainty. Updated weekly.
A forced and rapid energy transition is under way. Discover what impact this will have on commodity markets and clean energy investment opportunities.
Read our latest equity market outlook to learn why the US stock market has had a volatile start to 2025, and to find out what the rest of the year may have in store for equity investors.
Is cash really king? Explore why holding cash may underperform other asset classes and how smarter investment strategies can thrive in a volatile market.
Discover the risks of passive investing in today’s shifting economic and political tides, and how they influence portfolio returns.
Find out how US tariffs may impact markets and learn strategies for investing during rising trade tensions. Explore inflation risks, market dynamics and the potential investment implications
Explore the UK equity market's potential for recovery. Learn how shifts in corporate behaviour, supportive policies and an economic upswing can help drive demand for UK stocks.
This paper addresses the impact of Beijing’s coordinated policies on the recent Chinese equity market rally, and the long-term investment implications.
Explore the fiscal challenges and tough choices facing the UK's new chancellor, Rachel Reeves, as she prepares her first budget.
Understand why the US labour market is cooling and what it means for the economy.
Japanese equities are in the spotlight, but investors should be mindful of the risks as well as the opportunities
We explore the potential economic and market scenarios stemming from escalating tensions in the Middle East.
Understand the drivers of small cap valuations and find out why small cap stocks could still offer attractive opportunities for long-term investors.
Read about the complex issues at the heart of measuring the financial impact of ESG investing.
