Recap of Our 2025 Outlook Now that We Are at Mid-year
In this week's episode, our experts discuss the state of the economy, markets, and investment outlook for the second half of 2025.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer
Rajeev Sharma, Managing Director of Fixed Income
Stephen Hoedt, Head of Equities
Rajeev Sharma, Managing Director of Fixed Income
Stephen Hoedt, Head of Equities
01:36 - Recap of employment data which shows stability with positive revisions and declining unemployment claims.
03:54 - Discussion about renewed tariff threats (up to 200%) and their potential to slow growth and raise inflation. The team highlights the impact of the “One Big Beautiful Bill” on deficits and long-term interest rates.
08:48 - Reflection on a volatile first half of 2025 and anticipates modest gains through August. Forecast of potential market “indigestion” in September–October due to valuation concerns
14:33 - Prediction of two rate cuts in 2025, likely starting in September. The team emphasizes uncertainty around tariffs and inflation, and recommends high-quality corporate bonds over Treasuries.
Additional Resources