31 December 2024
J.P. Morgan’s experts foresee a year of divergence in 2025, with U.S. interest rates staying elevated while Europe and emerging markets ease policies. Key themes include resilient U.S. growth driven by fiscal and trade policies, a strong dollar, and polarized performance across asset classes and regions. Commodities are expected to stabilize, with bullish trends in metals and bearish forecasts for oil, while geopolitical uncertainties and inflation remain critical risks to watch.