outlook

Within our Q4 Market Review & Outlook, our Investment Committee provides a concise year-in-review of 2025, unpacking the key drivers behind returns across sectors and major asset classes. Looking ahead, the team sets out our 2026 outlook for steady growth and moderating inflation alongside a more measured easing cycle and outlines the core considerations and risks likely to shape markets over the coming year. The review concludes with a dedicated deep dive on the AI “bubble” debate, setting out the key indicators we monitor to assess whether excesses are building.

• January 16, 2026

Within our Q3 2025 Market Review & Outlook, our Investment Committee delve deeper into the drivers behind this rally and examine how resilient earnings, shifting central bank policy, and improving credit conditions have supported global markets. The team also outline where opportunities and risks may lie as easing cycles take hold.

• October 13, 2025