Insights

The second quarter ended on a bright note on the back of easing tensions on both the trade and the geopolitical fronts.

In May, trade headlines once again dominated financial markets – albeit in a relatively positive light as signs of simmering tensions were met with a revival in risk appetite.

In April, financial markets were whiplashed by a flurry of headlines on the trade front. While “Liberation Day” was met with sweeping tariff announcements, the trade war between the United States and China escalated with tit-for-tat levies.

Read our latest quarterly Investment Outlook and Portfolio Strategy document, providing a financial market recap for Q1 and our outlook for the next 12-18 months.

Read our latest insights on how global multi-sector fixed income strategies can create diverse potential opportunities for investors.

The first quarter ended on a softer note, with President Trump’s disruptive trade proposals and mounting stagflation fears driving investors out of risky assets.

Risk appetite deteriorated and financial markets were mainly in risk-off mode in February, with mounting risks of a trade war injecting some volatility into the marketplace and weighing on investor sentiment.

Financial markets began 2025 on a positive note following the inauguration of President Donald Trump in mid‑January – even despite his looming threats to impose tariffs on Canada, Mexico, and China.

Consult our latest whitepaper for insights on the evolving economic and regulatory environment faced by insurers, and how investment strategies can be reassessed to adapt to this new context.

Read our latest quarterly Investment Outlook and Portfolio Strategy document, providing a financial market recap for Q4 and our outlook for the next 12-18 months.

Financial markets ended 2024 on an uninspiring note as investors contemplated an environment of resilient growth and persistent inflation in the United States that cast doubts over the scope of policy easing from the Federal Reserve.

In November, the so-called “Trump trade” lingered on following the Republican sweep in the United States – with investors cheering the incoming administration’s business-friendly stance.