368. Navigating markets in an uncertain year

Markets in 2025 have been anything but predictable, with geopolitical shifts, tariffs, and surprising regional performances keeping investors alert. In this quarterly market update, Darius and Juliet unpack the latest global investment trends and surprises from Q3. They discuss the shifting performance between regions, with Europe and Latin America outpacing the US, while China’s rally sparks debate on sustainability. Tariffs, inflation, and political uncertainty remain at the forefront, influencing investor sentiment and sector positioning. Fixed income markets are analysed in light of sticky inflation and unusual bond dynamics. Finally, looking ahead, both highlight where investors may find value, the importance of diversification, and strategies for navigating an uncertain final quarter of 2025.

What’s covered in this episode: 

• Surprises from Q3 market performance
• Why 2025 has defied expectations
• The shift from US dominance
• The continued impact of tariffs
• Explaining the strength of European and Latin American equities
• China’s rebound
• Signs of complacency in global markets
• Opportunities and risks in healthcare
• The outlook for smaller companies
• Fixed income insights: short-duration bonds, spreads and government debt concerns
• Portfolio takeaways for the final quarter of the year

Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.