As uncertainty around U.S. trade policy continues to shape the landscape for risk assets, a complex picture emerges for investment grade credit in 2025—but what does the future hold?

Highlights from the week of July 11 – July 17, 2025.

After a volatile start to the year, we see opportunities as markets focus on President Trump’s deregulatory agenda, tech’s unrelenting rise, and Europe’s defense surge.

The economy’s impressive resilience has helped markets shake off fiscal and geopolitical uncertainties. But while it’s business as usual for some sectors, others are facing a panoply of new challenges, compounded by the accelerating AI revolution. Our experts take a look at how to play this complex new landscape.

Markets are holding steady despite mounting uncertainty, as investors, the Fed, and corporate America wait for clarity on fiscal policy and the direction of the economy.

Reproduced with permission from AllianzGI

Reproduced with permission from AllianzGI

Even as markets cheer easing trade tensions, the effects of tariff uncertainty may still show up in economic data—and bring renewed volatility with them.

Reproduced with permission from AllianzGI

Reproduced with permission from AllianzGI