Global growth slows under the weight of tariffs, but fiscal stimulus, AI-driven productivity, and corporate strength keep equities in the driver’s seat.

The current market environment offers allocators the chance to capitalize on earnings quality and an innovation cycle in large cap equities, as well as attractive yields with manageable risk and some recession protection in investment grade credit.

The current backdrop offers opportunities from stable labor markets supporting strong real household income growth, but policy uncertainty could disrupt markets.

The current market backdrop presents opportunities to benefit from lower rates, durable earnings streams and high quality “all-in” yields.