insights.

Three key charts for May 2025 highlight how shifting macroeconomic conditions are shaping equity positioning, accelerating the strategic role of private assets, and driving long-term investment opportunities linked to electrification.

Gold prices are volatile, but the precious metal still plays an important diversification role in portfolios. We examine its historical performance alongside that of other alternative havens. 

We look at the impact of higher policy uncertainty on implied equity risk premia (ERP), or the extra return investors expect for owning stocks rather than bonds.

We look at the trade and economic uncertainties surrounding emerging equities and their valuations, along with the potential for growth.

Michael Strobaek, Global CIO at Lombard Odier, explores the implications of Trump’s tariffs for China and Europe, and how investors should approach asset allocation as uncertainty deepens.

Can the US economy avoid a contraction, and will US financial assets recover? We look at the recent volatility, and the tools to combat it.

What signs should investors be looking for to indicate that a sustainable market rally is underway in financial assets?

The US dollar’s weakness since US tariff announcements reflect the risk to American economic growth and inflation. We examine the implications, and set out our haven preferences.