In our Alpha report, we deliver our Annual Forecast. The current macro narrative is that the US will continue to outperform the rest of the world, in large part because President Trump will again deliver fiscally led growth and global tariff carnage. In our view, 2025 will be the year of “Peaks.” Peak fiscal profligacy, peak de-globalization hysteria, and peak geopolitical risks. All three will reverse US Exceptionalism. But getting ahead of that trade is folly. For the time being, we concede that it is “America First” on all fronts. Particularly with the Greenback being a momentum currency.
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BCA | GeoMacro
A blend of geopolitics and macro, synthesizing the new and old macro to generate alpha and identify the beta through probability-weighted market views.
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