In 2025, global asset markets were defined by a retreating dollar, a turn in interest rates, a surge in gold, and a bull market in momentum stocks.
Heading into 2026, the global economy is entering a critical phase of slower growth but retained resilience. Investors should be alert to rising unemployment and other long-tail black-swan risks across asset classes.
U.S. Dollar Index: Narrower U.S.-Europe and U.S.-Japan Rate Gaps ...

2025 delivered another rollercoaster for global markets.
From tariff shocks and AI disruptions to trillion-dollar milestones and a historic policy pivot, investors faced one catalyst after another — each one reshaping sentiment, volatility, and opportunity.
Here’s a look back at the key moments that moved the markets this year.
Taken together, these events tell a dramatic story — but the real insight emerges when we connect them....