Mark Richards

The current passage of the US budget complicates the US Federal Reserve's outlook. Currently, there is a distinct lack of fiscal discipline on show.

Keep exposure to risk assets modest as structural shift in US policy plays out

China's stock market (above, an electronic board with Shanghai and Shenzhen stock indices,  is driven by policies and sentiment, both of which are supportive of forward returns.

Positioning for 2025: Take advantage of market corrections