Global growth slows under the weight of tariffs, but fiscal stimulus, AI-driven productivity, and corporate strength keep equities in the driver’s seat.
High starting yields should continue to provide a buffer against potential turmoil, and episodic bouts of volatility should present attractive opportunities.
As uncertainty around U.S. trade policy continues to shape the landscape for risk assets, a complex picture emerges for investment grade credit in 2025—but what does the future hold?
After a volatile start to the year, we see opportunities as markets focus on President Trump’s deregulatory agenda, tech’s unrelenting rise, and Europe’s defense surge.