A “monetarist” perspective on current equity markets (January 2025)

This Janus Henderson Investors report offers a "monetarist" perspective on equity markets, analyzing global monetary trends and their implications for economic performance and asset prices in 2025.  

Key Insights:
• Monetary Trends: Weak global money momentum signals below-trend growth through mid-2025, with potential reacceleration later in the year.  
• Inflation Outlook: Broad money growth points to continued inflation deceleration, undershooting central bank targets.  
• Investment Strategy: Limited upside for risk assets; opportunities in lagging EAFE and EM equities, with U.S. equities and precious metals at risk of underperformance.  

For a detailed analysis of market dynamics and strategic recommendations, access the full report.