The shift from a “soft” to a “hard” world is a durable regime change, driven by geopolitical rivalry, AI competition and structural resource scarcity.

US CPI/PPI, retail sales and industrial production will provide a fresh check on inflation, consumption and growth.

The environmental transition is no longer a distant policy ambition. It is becoming a structural economic force — reshaping energy systems, industrial value chains and resource infrastructure. As clean technologies mature and environmental pressures intensify, investors can look beyond short-term policy cycles to a multi-decade capex opportunity spanning electrification, circularity and water security.

The environmental transition is often presented as a clean-energy story. However, as electrification scales, a different question is becoming more important: can the global economy secure, reuse and manage the resources needed to make the transition possible?

The key event for investors will be the annual NATO summit in Ankara, with any shifts in allied positioning or defence commitments likely to shape the geopolitical backdrop.

Discover our “Navigating Private Markets Today: Investor Perspectives” webinar series, developed in collaboration with the CAIA Association.

For decades, investors tended to view the world through a consistent lens; developed markets offered stability, while emerging markets offered the potential for rapid growth, albeit with greater volatility and risk. That distinction is becoming less obvious.