2025 in Review
Renée Friedman, Global Head of Research
The year 2025 will be remembered for three key reasons: 1. US President Donald Trump’s tariff wars 2. The end of Pax Americana 3. Artificial Intelligence (AI) going mainstream as global competition among creators and AI semiconductor chip producers rose following the release of China’s DeepSeek launch in January.
In this review we:
- Provide a wider macroeconomic view over 2025
- Consider global equity market performance
- Review bond markets performance and drivers
- Examine the impact of policies on currencies, particularly the US dollar
- Explore the divergence in select commodity performance.
This article is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Trading financial instruments involves significant risk of loss and may not be suitable for all investors. Past performance is not a reliable indicator of future performance.
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