All Commentary articles
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White papersESG Thema #19 - Measuring Scope 3 Emissions: implications & challenges for investors
“For many companies, the greatest climate-related risks and opportunities lie within their supply chains, which means addressing Scope 3 emissions is essential.” Mark Carney, Former Governor of the Bank of England said in 2020
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White papersTail risks to watch
We see geopolitical risks persisting as a base-case scenario for 2025. Below we share the main upside and downside risks to our base case that investors should take into consideration.
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White papersFocus on China
Investors learned the hard way that, without belief in fundamentals, one can still make money in China. Over the summer of 2024, the prevailing sentiment was ‘ABC’ (Anything But China) – a full-blown existential crisis framing China as an uninvestable asset class. In late September, China equities rallied an average of 25% on the back of official talk, triggering a widespread ‘buy everything’ sentiment, as the fear of missing out spread across the market.
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White papersDiverging fortunes: Global Market Perspectives, 1Q 2025
Despite elevated policy uncertainty, a solid economic backdrop implies this is still a risk-on investing opportunity. Our quarterly investment outlook highlights the themes and investment implications for the period ahead.
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WebinarTrump-starting the global economy
Concerns over US policy and China’s stalling economy will be key to the 2025’s global economic outlook. But while there are numerous uncertainties, we believe the picture remains favourable for both bonds and equities.
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Video2025 Outlook for European Fixed Income: From Uncertainty to Opportunity
In 2024, we had a lot of election risk driving market volatility, and as we enter 2025, we still have a lot of political uncertainty in the form of French and German politics, as well as uncertainty from outside of Europe in the form of tariffs.
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White papersAfter two strong years, what will 2025 bring?
“2025 will continue to offer opportunities and investors will need to assess the impact of Trump’s policies.”
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White papersThe investment landscape in 2025
Pictet Asset Management’s annual outlook provides detail on the defining themes of 2025. We share critical insights into the challenges and opportunities that financial institutions may face.
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White papersFinancials: Poised for recovery
The positive economic outlook—highlighted by an increasingly likely soft landing—along with industry-specific green shoots, such as favorable credit conditions, improving loan growth, higher net margins and fee income, and a more accommodating regulatory environment, is poised to drive an inflection point in financial services earnings. These factors should help create a return to capital and a favorable earnings environment through 2026, helping extend positive investor sentiment within financial stocks.
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White papersGlobal Investment Views - January 2025
A semblance of a goldilocks ahead of Trump’s inauguration
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Webinar2025 Outlook: Direct Lending Webinar
Where is direct lending headed in 2025? Our experts weigh in on a number of topics—from the implications of an increasingly competitive market to the interplay between public and private markets (and what that means going forward).
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White papers2024 recap: Resilient despite risks
Markets defied challenges in 2024, delivering strong gains across equities and bonds, supported by investor optimism and resilient economic fundamentals. Entering 2025, a mix of policy clarity and elevated equity valuations suggests a cautious but optimistic outlook for U.S. growth. Key risks—including trade policy and the Federal Reserve’s evolving ...
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White papersFed and ECB cut rates, BoJ and BOE on hold
“The Fed’s hawkish tone signals that the Central Bank is incorporating a more uncertain outlook. This calls for keeping a tactical approach to bond investing.”
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White papersFed 2025 outlook: A fragile balancing act
The Federal Reserve’s cautious policy stance reflects a challenging economic backdrop heading into 2025. Sticky inflation, resilient growth, and uncertainty around the incoming administration’s policies have constrained the Fed’s ability to ease aggressively. While our forecast anticipates three rate cuts next year, the path forward will depend heavily on inflation progress and labor market conditions.
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PodcastSolving for 2025
Looking for insights on the key themes poised to shape the financial markets in the coming year? Hear from Anu Rajakumar, Erik Knutzen, Co-Chief Investment Officer of Multi-Asset, and Shannon Saccocia, Chief Investment Officer of Private Wealth, as they discuss pivotal macroeconomic and capital markets observations from our annual outlook, “Solving for 2025”, where they evaluate the forces that may shape portfolios in the coming year.
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White papersGermany’s path ahead
In Germany, the poor economic performance of the last two years has taken centre stage.
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White papersKey Investment Themes 2025
The global economy avoided recession for a second year. Inflation began to cool and the major central banks embarked on a new cycle of interest rate cuts. However, geopolitical risk rose against the backdrop of a particularly busy election calendar around the world.
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VideoCIO Year-End Review and Outlook
Chief Investment Officer Sean Taylor provides a year-end update and 2025 outlook on what’s driving emerging market growth, a regional outlook on key countries, and the impact of the potential Trump tariffs.
