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    Multi-asset chart of the week

    Multi Asset chart of the week

    02 July 2025 Multi-asset
    Week to 04 July 2025

    Positive economic surprises for the rest of world vs negative economic surprises for the US

    Stephanie Chan, CFA, Portfolio Manager, said: “Developed market countries (such as the UK and Japan) and emerging market countries (such as South Korea and India) have had positive economic surprises in recent periods, while the US has had negative economic surprises. This corresponds to the narrative that the US is currently in a later stage of its economic cycle compared to the rest of the world. In the US, the rate of change of previously strong economic data may continue to slow relative to peers. The “US exceptionalism” theme has been losing its shine, and global investors continue to consider allocations away from the US.”

    Chart of the week 02072025.jpg

    Source: Bloomberg and Insight Investment as at 01 July 2025
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