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Outlook 2025

  • ilektra2
  • Dec 6, 2024
  • 1 min read

Our view for the year ahead


What has/will happen

  • Inflation has entered a new regime, will be more persistent and volatile due to structural reasons

  • Investments must be recalibrated with a higher focus on nominal rates

  • Term premia to rise gradually


We are positive on

  • Investment grade bonds (US focus) and Private Debt (EU focus) 

  • Equities (US for growth, EU for value, Asia for innovation)

  • Embrace the new trends (Electrification, Nuclear Energy, Space, AI .v3) but at reasonable valuations


We are negative on

  • HY spreads

  • Political stability and cooperation

  • Oil prices and OEM Autos

  • Real Estate exposure in the US





 
 
 

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