Global Financial Markets

Global markets are approaching an inflection point. AI is still powering growth, but inflation, swollen deficits and geopolitical uncertainty are quietly reshaping the outlook. This report explains why the “near-perfect future” priced in by investors is becoming increasingly unlikely.
 

With the longest government shutdown in history and Supreme Court hearings on Trump’s tariffs in full swing, the U.S. economy is sailing blind. We examine how political fog, rising debt and AI-fueled growth shape the outlook for rates, currencies and risk assets.

The Fed fears that the prolonged stagnation in job growth will lead to lower consumption and rising unemployment. Is the US really that vulnerable, or is the economy stronger than expected?