OverviewIn our Investment Outlook, we analyse global markets and key asset classes to provide our clients with a comprehensive overview of what we see as the main possibilities and probabilities every quarter.
We are cautiously optimistic on the global economic outlook shaped by central bank policy shifts, inflation moderation and geopolitical realignments. The Federal Reserve’s recent rate cut has prompted a more constructive stance on risk assets, particularly equities, with earnings resilience expected to drive returns. Inflation remains above target, but is no longer seen as a major threat to the Fed’s easing cycle.
Overall, while risks remain – from labour market deterioration to geopolitical tensions – the policy backdrop and earnings resilience support selective risk-taking and diversified positioning.
Previous Investment Outlooks
Investment Outlook 2025 Quarter 3
Fiscal policy decides the market direction of stagflation or reflation
James Monk Investment Director Fidelity International - 15 Jul 2025
Investment Outlook 2025 Quarter 2
End of US exceptionalism
James Monk Investment Director Fidelity International - 15 Apr 2025
Investment Outlook 2025 Quarter 1
US is playing the Trump card
James Monk Investment Director Fidelity International - 08 Jan 2025