Checkpoints is a comprehensive monthly chartbook highlighting major top-of-mind themes that could shape financial markets in the near term. In addition to the broader macroeconomic discussion, Checkpoints delivers detailed views on major asset classes, including global equities, fixed income and real assets.

Improved business confidence and recent tax legislation are compelling corporations to reinvest their cash flows in their businesses. We believe this is a positive signal for economic growth.

Headline volatility persists and yet the global growth outlook continues to improve. We examined a leading indicator, and why there is good cause to diversify equity holdings if you haven’t already.

Stronger growth expectations are driving a global rotation out of growth-oriented and mega cap technology stocks, and into cyclical companies. At a time when geopolitical tensions and tariff discussions continue to simmer, we remind investors to stay invested despite the headline noise.