The year of uncertainty: 5 macro themes to watch in 2025
Macro Strategists John Butler and Eoin O’Callaghan outline five macro themes for investors to watch in 2025 in a year they see defined by exceptional uncertainty and an extraordinary macroeconomic backdrop.
Global Economic Outlook
Our macro strategists continue to expect that the interlinkages between countries, central bank policies, and market pricing will change, creating potentially attractive opportunities for active portfolio management and security selection.
Can central bank independence survive?
Can central bank independence survive? Macro Strategist John Butler discusses the challenges faced by central banks in an increasingly fraught political environment and how investors should adjust.
Four questions for investors after Japan’s historic hike
With the Bank of Japan having finally moved out of negative rates, Macro Strategist John Butler identifies the four key questions he believes investors should focus on.
How to reposition for a new economic era?
In this short video, Macro Strategist John Butler outlines the key features of the new economic era we are now entering.
Back to the future: a new economic era
Macro Strategist John Butler explores why he believes the old macroeconomic model is broken and how best to navigate a new era of investing.
Trends and transformation distilled: Our 2024 outlook in brief
Our experts explore investment opportunities and risks for the year ahead.
Why structural change in Germany may impact investors globally
Macro Strategists John Butler and Eoin O’Callaghan discuss why they believe the structural changes currently underway in Germany will impact investors globally.
2024: A year of intensifying macro regime change?
John Butler and Eoin O’Callaghan explore why 2024 could be a year of intensifying macro regime change and what it means for investors.
Macro implications of the AI revolution: is the market right?
Macro Strategist John Butler sets out an initial framework to help answer key questions about the potential macro impact of artificial intelligence.
Deglobalisation and divergence: opportunity or threat?
John Butler and Supriya Menon discuss the drivers underpinning growing macroeconomic divergence and deglobalisation and what it may mean for asset allocators.
Macro risks to watch in this rapidly oscillating global cycle
Macro Strategist John Butler explores the two key questions he believes macro investors should focus on in the current volatile environment.
What does the new macro regime mean for investors?
In this Q&A with two senior market practitioners we explore what the new macro regime means for investors and what to expect next.
Why global investors should watch the Bank of Japan
Macro Strategist John Butler explores why global investors should watch the Bank of Japan and what is likely to happen next.
Perspectives on today’s alternative investment environment
Take a quick tour of the alternative investment environment with investors from across our macro research and hedge fund teams, as they explore the geopolitical landscape, macro volatility, and key trends like climate-change adaptation and digital tokenization.
Why Europe could surprise in 2023
Eoin O’Callaghan and John Butler discuss the contrasting prospects of the Euro Area and the UK and why 2023 could bring positive surprises in the region.
A new economic era: Why inflation, volatility, and cycles are back
Macro Strategist John Butler argues that a seismic global shift is underway that will disrupt the macro dynamics of the past two decades, challenging long-held investment assumptions.
After the UK sell-off: what’s next for global markets and investors?
Co-Head of Investment Strategy Natasha Brook-Walters and Head of Macro Strategy John Butler discuss the implications of the recent sell-off in UK markets for global markets and investors.
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Related Insights
Markets in 2025: asleep at the wheel or in the driving seat?
Watch the conversation with Head of Macro Strategy John Butler as he discusses recent macro events and potential 2025 market outcomes for investors.
By
John Butler
Will Lockhart