Market Update 01/2025 | Resilient Growth Drives Positive Equity Outlook

Global Equities Remain Attractive Amid Resilient Economic Growth and Strong AI Investments; Gold and Bitcoin Gain Favor as Diversifiers

In January 2025, T&T International maintains an “Attractive” stance on global equities, supported by resilient economic growth and proactive central banks. Earnings are expected to rise in the high single digits, with technology and AI-driven sectors as key growth drivers. Preferred regions include the US and Asia ex-Japan. In fixed income, high-grade and investment-grade bonds are favored, while emerging market and high-yield bonds remain neutral. Gold and bitcoin are highlighted as effective portfolio diversifiers amid changing market correlations. Currency preferences include the CHF, EUR, GBP, and AUD, while CNY remains unattractive. Key risks include elevated bond yields and increased trade protectionism.