Our 2025 Capital Market Assumptions are lower across stocks
and bonds relative to last year
The outsized returns of equities over the past two years, increasing market concentration and high stock valuations make us more cautious
Return expectations decreased, as starting yields are lower and spreads have experienced meaningful compression
We expect the US dollar to depreciate against a broad basket of currencies over the 20-year horizon
Watch Capital Group's solutions portfolio manager and analyst discuss our 2025 Capital Market Assumptions.
Hear views from our economists on the outlook for the US, Europe and Asia.
Get a quick overview with our concise summary
Dive deep into our detailed estimates for each asset class and region, along with our economic outlook.
Here an overview of our key asset class forecasts to help inform your allocation decisions.
All are projected over a 20-year horizon and in USD terms.
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