Every year in October, Julius Baer’s senior research and investment management experts and selected external experts reassess key big-picture economic and investment trends. Their findings, which give us a clear view of the structural forces at play in the global economy, are then incorporated into our investment processes, and form the basis of our annual Secular Outlook report.

In our Secular Outlook 2025 update, we delve into: 

• key macroeconomic trends such as multipolarity and strategic reshoring  
• key capital market trends including the shrinking investment opportunity set and the important role of ‘store-of-value’ equity markets
• key risk factors such as climate risk and cyber risk