After years of small-cap underperformance relative to large-cap counterparts, the tide looks to be turning. We look at why investors shouldn’t overlook this aspect of the 2025 equity outlook as small caps seem poised to return to form.

As the threat of U.S. tariffs remains a regular topic of news outlets, we examine the potential highs and lows and their effects.

Economics is rife with self-correcting mechanisms, and we give our thoughts on how that dynamic is likely to play out in the relationship between the U.S. budget deficit and longer-term interest rates.