1
Political/regulatory news is less predictable
Political/regulatory news is less predictable
It’s increasingly difficult to anticipate and prepare for headlines, partly because of the uncertain timing of supply side disruptions.
2
Faster information flow than ever before
Faster information flow than ever before
Investors face a 24/7 news cycle. More and more, consumers of US news are getting their information from social media and online videos than traditional news outlets.1
3
New competitive, power-based global order
New competitive, power-based global order
Fundamental shifts in geopolitical risks are taking place as we move from a hegemonic, rules-based global order to one where longstanding civilities are being removed.
4
Equity markets highly concentrated
Equity markets highly concentrated
The dominance of the top 10 names in the MSCI ACWI persists due to strong outperformance of select tech companies amid the AI boom.2
5
Wider and more demanding investor base
Wider and more demanding investor base
Record-breaking retail flows have led to 47% of households investing in stocks.3 High-growth segments such as millennials demand transparency and digital tools.
6
High fiscal debt
High fiscal debt
Fiscal spending has driven massive sovereign debt. in the US, the deficit is at a record high, and spending has driven much of the US exceptionalism story.
