Forecasting economic and market variables is inherently difficult, with research suggesting that only 23% of professional forecasts prove accurate. Add in US policy uncertainty - President Trump signed a flurry of executive orders on his first day in office - and the outlook for the global economy is even more challenging to predict than usual.

Global gold reserves are shifting as central banks react to economic uncertainty. Switzerland holds the most gold per capita, while the U.S. leads in total reserves. Poland, Turkey, and China are top buyers, while Russia and the Philippines are major sellers.

Sean Neethling, Head of Investments at Morningstar SA, explores shifting market narratives, from US tech dominance to emerging market opportunities. He highlights AI-driven competition, China’s resurgence, and the importance of diversification in navigating evolving global equity trends and investment risks.

With the US pulling out of South Africa’s Just Energy Transition (JET) partnership, global ESG momentum is under pressure once again. But rather than signalling the death of ESG, this shift is forcing businesses to rethink sustainability strategies beyond government incentives.

Izak Odendaal, Investment Strategist at Old Mutual Wealth, examines the impact of Trump’s trade wars, Europe’s economic fragmentation, and rising defence spending. He highlights geopolitical shifts, market trends, and investment insights amid evolving global uncertainties and policy changes.

Towards the second half of last year, it seemed like the long-awaited global interest rate cutting cycle had finally arrived. However, Ané Craig, Fund Manager at PSG Asset Management says markets are dynamic, and the interest rate and inflation paths anticipated towards the end of last year have undoubtedly shifted.