Stock market gains have become increasingly concentrated in a small group of companies, raising questions about how sustainable today’s market leadership really is. At the same time, strong earnings, innovation, and easing financial conditions continue to support investor confidence, creating a tension between optimism and caution. In our latest Quarterly Investment Perspective, we explore whether current market dynamics reflect excess—or a more nuanced phase of the market cycle—and what it means for long-term investors.
Read MoreOur 2025 Annual Market Review examines how financial markets performed across stocks and bonds, with deeper insight into results by region, sector, and market size. The downloadable deck provides a clear, data-driven look at the forces that shaped market performance last year.
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