The fog is lifting but uncertainty about US data publication persists: We will learn when the delayed economic data will finally be released.

Does it seem as though we, and our investments, are living in uncertain times? With its scheduled cash flows, private debt may provide a predictable and reliable instrument within your overall asset allocation.

Global markets enter November with better visibility than at any point this year – growth stronger than expected, inflation lower than expected and policy still broadly supportive.

Markets extended their winning streak in October, ushering in stocks’ historically strongest quarter — the most wonderful time of the year. Momentum tends to build gradually: a modest October, a livelier November, and a December that often decides how wonderful the season truly is.

Markets extended their winning streak in October, ushering in stocks’ historically strongest quarter — the most wonderful time of the year. Momentum tends to build gradually: a modest October, a livelier November, and a December that often decides how wonderful the season truly is.

The upcoming days will bring a flurry of top-down macro and bottom-up micro events, setting up the scene for the final weeks of 2025.

Global credit markets have entered the final quarter of 2025 in remarkably good shape. Corporate fundamentals remain robust: earnings across sectors have generally surprised to the upside, leverage is low, and balance sheets are strong, in contrast to sovereign balance sheets, where leverage remains elevated.

News that US President Donald Trump is set to meet with Russian President Vladimir Putin in Budapest to discuss ending the Russian war in Ukraine will be followed closely.