About this episode

Rob Duncan and David Kletz discuss the shift in global market leadership and the potential for a year-end rally in global equities.

In this episode of the Global Thinking Podcast Rob Duncan sits down with Lead Portfolio Manager, David Kletz, to explore the powerful shift in global market leadership that has defined the year. Since "Liberation Day," momentum has moved decisively toward International and Emerging Markets, with Europe and Asia driving much of the advance. While U.S. equities have staged a recovery, they face mounting challenges — weakening dollar, government shutdowns, and a softening labor market. In contrast, International markets are showing renewed strength, supported by attractive valuations, capital inflows, and central banks that appear poised to maintain accommodative policies. The discussion also highlights recent developments in Japan, where corporate reforms and currency dynamics are shaping investment opportunities, and the ASEAN summit, where U.S.–China engagement has helped ease trade tensions. Together, these global factors could lay the groundwork for a year-end "Santa Claus rally" and signal a more durable rotation toward global equities. It's a timely, data-driven look at how government policy, geopolitics, and investor psychology are shifting the investment landscape — and…

People in this episode

Host: Rob Duncan

Guest: David Kletz

Topics covered

• global markets
• international markets
• emerging markets
• U.S. equities
• Japan
• ASEAN summit

Keywords

• market leadership
• capital inflows
• corporate reforms
• trade tensions

Mentioned in this episode

Places: Europe, Asia, U.S., Japan, U.S.–China, US

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