1、2025Global Investment OutlookPAGE 2SLC MANAGEMENT|2025 GLOBAL INVESTMENT OUTLOOKA letter from Steve PeacherOur 2025 Global Investment Outlook comes at a time of great change,uncertainty and opportunity across the world.In the previous year,we saw major shifts in the macroeconomic environment.In the

2、U.S.,Canada and other major markets,the conversation shifted from moderating inflation to buttressing economic growth.Central banks across the world went into easing mode,from the U.S.Federal Reserve to the Bank of Canada and European Central Bank.On a geopolitical front,the globe also grappled with

3、 the grave consequences of armed conflict,several closely watched elections and the economic and human costs of significant weather-and climate-related disasters.At the same time,2024 brought investors robust returns from a wide range of markets,including many fixed income asset classes.However,seve

4、ral sources of uncertainty remain prevalent as we head deeper into the new year.These include those of a political nature,with an incoming U.S.administration raising expectations of both growth-friendly initiatives and the more sobering impact of tariff talk.The risks of ongoing global conflicts esc

5、alating even further remain top of mind as well.And observers are watching central banks closely,for signs of policymakers settling into a neutral rate or adopting a more stimulative mindset.Consequently,questions remain as to what direction markets take from here.Will the above uncertainties transl

6、ate into spread volatility in bond markets?Could the evolving rates environment affect market activity and volumes in public and private fixed income?Will we be seeing major shifts in other asset classes,such as real estate and infrastructure?What will be the impact on insurers and plan sponsors?And