Tipping point for fixed income
Rising fiscal risks in the US are driving increased volatility in US Treasuries and the dollar.
Stay agile and consider European and emerging market bonds for a more attractive income and risk profile.
Equities in the global trade rewiring
Given the high concentration risks and stretched valuations in US mega caps, explore emerging themes arising from the global rewiring, shifting policies, and supply chain redesign.
Time for Europe
Europe’s focus on strategic autonomy is gaining momentum, creating long-term opportunities for investors in equities, mid-caps and defence.
India and EM winners of the rerouting shift
India and Indonesia are positioned as long-term winners.
In the short term, China may benefit from additional stimulus measures. EMs are expected to outperform DMs.
Long-term themes in a fragmented world
A fragmented and increasingly conflictual world calls for higher defence spending, strategic autonomy, search for rare minerals, and dominance in the tech race.
Remain diversified with real assets and alternatives
These assets are key in a world marked by high uncertainty and inflation risks. Considering the surge of capital flowing into these segments, a high degree of selectivity is required.