As of mid-February, global markets are experiencing a rotation in leadership, with a more balanced rally across sectors. Developed Non-US equities driven by Europe are leading the way. While the S&P 500 is +4% YTD, leadership is no longer concentrated in just the Mega Cap Tech names, reflecting healthier market breadth.
In this edition of Monthly Market Insights, we assess the potential impact of proposed tariffs on GDP, inflation, and corporate earnings over the near and medium term. We discuss why we might want to get used to more “headline volatility” in reaction to policy uncertainties. Lastly, we dig into January’s inflation numbers and the outlook for earnings in 2025.
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