A world adapting to new technologies and geopolitical changes. The global economy is undergoing profound geopolitical and technological change. The winners in this transition will be those who recognise trends early on and adapt flexibly to the new environment. The challenges are enormous. However, we are looking ahead to the new year with optimism, thanks in part to the continued expansionary fiscal policy in the US and Europe. The expansion of AI infrastructure adds to this, as it will remain a pillar of growth in the US and in Asia.
We will discuss the investment opportunities that arise from these changes with you. These can not only be found in equities, but also in the bond market and on the currency side. Some emerging markets should see renewed momentum, the US dollar is likely to weaken further, and equities should generally gain, albeit at a much more moderate pace than in previous years.
Shaping the Future of Healthcare Through Innovation. The MedTech sector continues to stand out as a beacon of innovation driving some of the most significant technological breakthroughs of our time — from AI-supported diagnostics that improve precision to surgical robots and other minimally invasive technologies. The earnings performance of leading medical device manufacturers remains solid, while valuations are currently at attractive levels.
We explain this rare combination of innovation-driven growth, resilience, and strong secular tailwinds.
Yours sincerely,
Bank J. Safra Sarasin
