US assets may no longer reign supreme in markets in 2025, depending on the direction of fiscal policy. Will more balanced growth prospects prevail? 

This quarter, Alphorum explores how tariffs and fiscal policy are influencing fixed income alongside monetary policy, and approaches to capturing carry while balancing credit and duration risks. 

High-quality companies, robust earnings and attractive valuations offer a positive backdrop for key FinTech equity themes in 2025 – including rising M&A and the evolution of cryptocurrencies and digital payments.

The interplay between more balanced growth momentum and fiscal consolidation in 2025 could fuel market volatility, reinforcing the case for diversification.