The McMurtrey Financial Group

Amid efforts to stimulate growth in the face of economic challenges, we see selective long-term opportunities in both equities and fixed income.

Trade and internal tensions are likely to play key roles in 2025, as potential tariffs and political disruptions cloud the picture.

Asia’s equity outlook will likely depend on U.S. tariffs, China’s stimulus and Japan’s structural changes. Stable fundamentals support cautious optimism for investment-grade bonds.

Despite potential headwinds, we are generally constructive on Canadian markets, though we expect less outperformance in credit.

A more complex equity landscape and the potential for Fed policy shifts mean investors will need to be nimble in 2025.