Market Matters: July 31, 2025
Global equities advanced as lingering uncertainty over US trade policy eased.
Global equities advanced as lingering uncertainty over US trade policy eased.
Global equities rallied last week after the US announced trade deals with various Asian economies.
US tariffs added to market volatility in the fiscal year ended June 30, 2025. Nevertheless, most risk assets ended the year higher, supported by strong earnings ahead of tariff uncertainty and the prospect of continued central bank policy easing to support growth.
In this edition of VantagePoint, we examine the historical context of the dollar, outline why we believe the recent decline is likely part of a multi-year bear market, and discuss strategies investors can use to reduce their dollar exposure.
Global equities surged, closing the quarter at all-time highs.
Global equities rallied as trade negotiations between the United States and China progressed.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Global financial market volatility surged in April as investors priced in the potential impacts of so-called reciprocal tariffs revealed by the United States, which significantly raised import levies on virtually all trading partners.
No, we don’t think so. For most investors, this is more likely a time to take profits on gold rather than initiate new allocations.
After a prolonged period of US outperformance, many investment portfolios have become heavily concentrated in US equities, but recent policy shifts now challenge US economic and financial hegemony. Investors should carefully evaluate these exposures to determine if greater diversification is warranted.