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Strategy Outlook

Five Black Swans For 2025

by Matt Gertken, Chief Geopolitical/US Political Strategist   Jesse Anak Kuri, Strategist   Yushu Ma, Strategist   Max Malakhveitchouk, Research Analyst    Junfei Guo, Research Analyst  

Every year we highlight five low-odds scenarios that would have a major impact on global financial markets if they happened. This year we contemplate a total reversal of Chinese policy, a US-Iran nuclear deal, a breakdown of NATO, US military action across the Americas, and an internationally coordinated FX intervention.

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BCA Research | Geopolitical Strategy

The financial industry’s premier geopolitical research service. We use hard data to calculate scenario probabilities and market impacts for geopolitical risks and opportunities. 

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