Quarterly Outlook
Q4 Outlook for Investors: Diversify like it’s 2025 – don’t fall for déjà vu
Jacob Falkencrone
Global Head of Investment Strategy
Althea Spinozzi
Head of Fixed Income Strategy
Summary: We expect three themes to threaten the tranquility of fixed-income investors in the final quarter of the year: persistent volatility in emerging markets, political tension in the European Union, and finally the constant tightening by the Federal Reserve which will start to destabilise US high-yield corporate spreads.