The 30th edition explores how economic nationalism and fiscal activism create challenges and silver linings, and how technology will lift profits and productivity.
Amid resilient growth and a fading energy shock, we stay positive on risk assets: favoring U.S., Japan and EM equities, overweight U.S. high yield, long European duration.
Central bank credibility, solid data and profits, robust capex and resilient consumers lift the odds of expansion to 85%, outweighing inflation and AI headwinds.
