英卓投资管理：2025年第一季度全球股票与多元资产展望报告：解构宏观迷思（英文版）

I like reading, and I love markets. Every year end, I save a few market outlooks on my laptop and look forward to reading them during my holidays, much to my husband’s annoyance. This year the topics covered were easy to guess even before glancing at the Executive Summary: What will Trump tariffs mean for the US and the rest of the world? What will central banks do and are we in for higher-for-longer interest rates? Will US exceptionalism and equity market outperformance continue with the bac