2025 Perspectives: Analysis of global markets and economic landscape
Discover our annual report ‘2025 Perspectives’ and the key insights for the upcoming year.
The final stretch of 2024 continues to reflect an outstanding performance in the markets, maintaining the positive trend that has prevailed throughout most of the year. This growth has been driven by several key factors that have strengthened global stability:
- Disappearance of political uncertainty: The resounding victory of Donald Trump and the Republican wave in both chambers have paved the way for a more predictable political environment.
- Interest rate reductions: The Federal Reserve has initiated a cycle of benchmark rate cuts, creating a favorable environment for investments.
- Strong earnings performance: Corporate financial results have exceeded expectations, generating a positive balance for the year.
Looking ahead to 2025, the new political agenda is expected to focus on potential tax cuts, reduced regulation, and policies to stimulate the domestic economy. However, the implementation of these measures could present challenges, such as:
- Trade tensions.
- A higher public deficit.
- Rising inflation and higher interest rates.
These factors may pose a challenge for the Federal Reserve, particularly in a context where inflation has slowed to levels more comfortable for the institution.
In this highly dynamic environment, we are pleased to present our annual report, ‘2025 Outlook’. In it, you will find:
- The perspective of our Investment Committee on this economic scenario.
- Expectations for each asset class and region.
We are confident this report will provide valuable insights into the next steps to take and how to optimize your investment strategies.
