Market Outlook Better Than the Headlines Suggest

With political and economic uncertainty, investors might feel tempted to scale back on risk. However, when you look beyond the headlines, the reality is that the investment landscape is more favorable than it seems.

In my Q4 outlook video, I highlighted the key drivers that are shaping markets. The main points I discussed are:

1. Monetary stimulus in the U.S. and China are a moderate support to financial markets.
2. U.S. equity valuations began normalizing in Q3 with the underperformance of tech.
3. Limited shifts in fiscal policy are to be expected in 2025.
4. Gold remains a top performer in 2024, driven by falling interest rates, geopolitical risks, and central bank buying, and the macroeconomic backdrop suggests further upside potential.

The slides I reviewed can be found here.