Q2 2025 House View – Policy Disruption Reshapes the World Order

This report was produced by Aviva Investors, a member of IPFA. 

Aviva Investors’ House View provides a consolidated perspective from their investment teams on global markets and macroeconomic conditions. This edition focuses on the heightened policy uncertainty under the new Trump administration, particularly the imposition of tariffs, which is expected to weigh heavily on US and global economic activity. It also examines geopolitical changes, such as Europe’s shift toward increased defence spending. Economically, US growth is forecast to slow, with global growth at 3% and risks skewed to the downside.