With the full impacted of tariffs uncertain, investors are aiming to mitigate risk by focusing on defensive sectors and U.S. small caps.

Stocks and bonds increased as the macroeconomic environment offered a relatively positive narrative during the week.

Equities fell and the yield curve flattened as tariffs took center stage during the week.

Concerns on the economy, geopolitical policies and AI competition rattled markets this week. 

Robust economic data and expectations for fewer rate cuts this year hurt equities as bond yields rose.

America’s economy is riding high into the new year, lifting investor expectations skyward. Our panel discusses what could propel (or derail) markets in 2025.

Uncertainty around China and the upcoming transition of the U.S. government weighed on the markets this week.

New features may not be what your plan needs this year. There’s plenty to be gained from simply refining what already works.

While investors grapple with continued geopolitical uncertainty, we maintained the base positioning in our Global Perspectives portfolios.

Our long-term return expectations serve as key inputs into strategic asset allocation for multi-asset portfolios and provide context for shorter-term forecasting.