Insights

Macro Insights Weekly - The uncertainty trade

17 March 2025
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  • There is remarkable macro divergence at play among key economic blocs presently. But the overarching theme is the worsening of growth momentum in the world's largest economy.
  • Bonds and gold have rallied. So have Chinese and European stocks.
  • Cryptos have once again proven their beta to risk, selling off with a rise in risk aversion.
  • We are not convinced if the US fixed income rally sustainable.
  • Large tax cuts, unmatched by spending cuts, would keep the federal budget deficit under pressure.
  • Call of the hour: geographical and multi-asset risk diversification.

 

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