As the second half of 2025 begins, investors face questions about the key forces shaping the future of financial markets. This year, we continue our custom of using the third-quarter edition of Strategy Insights to answer the top 10, most frequently asked investor questions.

Some of the most notable developments with potentially significant implications for investors include the:

  • path of U.S. fiscal policy;
  • outperformance of international markets;
  • artificial intelligence (AI) innovation cycle; and
  • U.S. earnings outlook.

With global equity markets having rebounded near all-time highs, we believe now is an opportune time to take stock of key market drivers — both the headwinds that may create challenges and tailwinds that could propel markets higher from here. Overall, we remain confident in expectations for continued global growth but recognize that a slowdown is likely over the next quarter or two.

The 10 questions we address in this publication are wide-ranging, which speaks volumes about the complexity of issues investors are tackling this year. We hope you find this useful, timely and insightful.

FOR AN IN-DEPTH LOOK
Strategy Insights Third Quarter 2025