Standard Chartered – Global Market Outlook, May 2025

The main theme of the report is the analysis of the global market amidst unexpectedly high US trade tariffs, which have created significant uncertainty.

Key takeaways include the expectation of a soft landing for the US economy, although the risk of a hard landing has increased. The recommendation is to hold stocks and bonds as core assets, with a tilt towards gold. In equities, a balanced approach across major regions is advised, with opportunities in US, European, and Asian stocks. In bonds, developed market government bonds with investment-grade ratings are expected to benefit from easing yields in a slow growth environment.