2025 Investment Landscape: Q&A With Our CIOs

2025-01-21 02:20:00 ET

Summary

• A recession in the U.S. is unlikely as household and corporate balance sheets are still very strong, with many buffers to handle any kind of surprise that could come along through the year.
• Inflation is obviously the focus for markets, but although sticky, it remains far below the peaks of 2022.
• The recent U.S. Presidential election, the Fed’s easing path, and open conflict in Europe and the Middle East are all risks and threats for financial markets.
• U.S. equities have delivered about a 50% return over the last two years, and that type of momentum is challenging to fight, although we don’t anticipate returns that strong in the next two years.
• We see strength in investment grade credit and high yield. So, combining all three, we believe that striking the right multi-asset balance in 2025 should lead to another fruitful year for investors.

By Seema Shah, Chief Global Strategist; Todd Jablonski, CFA, Chief Investment Officer & Global Head of Multi-Asset and Quantitative Investments; George Maris, CFA, Chief Investment Officer, Global Equities; Todd Everett, Global Head of Private Markets; and Michael Goosay, Chief Investment Officer, Global Fixed Income ...

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