Global growth is expected in 2025, but at the same time, expectations around the number of interest rate cuts in the US have fallen and the risk of a trade war under Trump is the main uncertainty factor.
"Global equities in local currency terms rose by as much as 21% in 2024, supported by strong company reports, falling inflation and interest rate cuts by central banks. The US was the strongest performing region in both local and common currency terms. European and emerging market equities also performed well, but not nearly as strongly as US equities. Swedish equities mainly followed the trend in Europe and rose by 7% in 2024."
Type of investment | January |
Swedish equities | Normal weight |
Global equities | Overweight |
Emerging Markets (EM) | Normal weight |
Swedish Bonds | Normal weight |
Global Bonds | Normal weight |
Credits | Overweight |