Thornburg Developing World Fund Q2 2025 Commentary

2025-08-27 00:30:00 ET

Market Review

Global equity markets delivered strong returns in the second quarter, rebounding after a volatile start to the quarter. While geopolitical tensions—including ongoing U.S. tariff threats—remained a headline risk, market sentiment improved meaningfully, supported by resilient economic data, easing inflation pressures, and expectations for policy support across several key regions. Emerging market equities outpaced U.S. stocks for a second consecutive quarter, while developed international markets extended their lead in year-to-date performance....

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