Economy & Markets Monthly Market Views November 2025

Discover with Monica Defend the Monthly Market Views for November 2025

We see 4 key themes driving markets in the weeks to come:

  1. AI capex supports growth, though consumption is softening
  2. Eurozone growth slows short-term, until Germany’s fiscal stimulus kicks in
  3. ECB likely cuts once more, Fed expected to cut twice this year
  4. Global fiscal policies diverge: China deleverages while Japan and Germany expand

     

In focus

Our Impact Green Bond strategy awarded Green bond fund of the year

Read more

We manage one of the largest global blended finance funds

Read more

2026 First quarter results

Read more

Share