Audio commentary: Unraveling the uncertainties

The dollar’s role in the global economy is evolving, and its “exorbitant privilege” looks to be as well. We examine the greenback’s role as the reserve currency and the implications of the world’s changing currency appetites.

After years of small-cap underperformance relative to large-cap counterparts, the tide looks to be turning. We look at why investors shouldn’t overlook this aspect of the 2025 equity outlook as small caps seem poised to return to form.

Markets head lower following a hawkish rate cut by the U.S. Federal Reserve. We discuss the reasons behind the Fed’s shift and if investors really need to fear higher rates caused by stronger growth.