Tariffs and tantrums have redefined the global landscape.
From aggressive policy pivots to AI-driven earnings resilience, markets are caught between geopolitical fault lines and technological tailwinds. Our autumn market outlook unpacks the global forces — both man-made and machine — shaping capital deployment in a world where predictability has all but disappeared.

“Many of the forces reshaping markets are structural in nature: the recalibration of global trade, the rotation within equity leadership, and the accelerating influence of artificial intelligence. These deep realignments carry meaningful implications for portfolio allocation. Over the next 12 months, the challenge is to stay focused on the signals that matter.”
Pierre Debru, Head of Research, Europe
