Standard Chartered – Global Market Outlook, Apr 2025

The main theme of the report is the analysis of global market prospects for April 2025, with a focus on US policy uncertainty and its impact on markets.

Key takeaways include a preference for global equities over bonds and cash in diversified portfolios, with a slight reduction in the size of the overweight. A balanced approach between US and Eurozone equities is recommended, with a downgrade of US equities and an upgrade of Eurozone equities to core holdings. In Asia, offshore Chinese equities are preferred, excluding Japan. It is recommended to continue buying gold on dips, with expectations that the US dollar and bond yields will remain within certain ranges, with a slight increase in the dollar over the coming months.