The Charts that Matter | Investment Update | December 2025

This report, presented by Perks Private Wealth with extracted information from Frontier Advisors’ Quarterly Market Outlook, analyses key macroeconomic and market trends as of December 2025. The investment landscape remains complex, with resilience in major economies but persistent risks from inflation, policy uncertainty, and structural challenges.

• Global economic outlook: The global economy exceeded expectations this quarter thanks to robust AI investment, but ongoing risks remain from low consumer confidence, geopolitical tensions, and uneven growth.
• Europe: Europe is stabilising, with some countries outperforming, but Germany still faces manufacturing challenges and fiscal expansion is expected in 2026.
• Japan: Japan is supporting growth with new fiscal stimulus, but trade pressures and a weaker Yen persist.
• Australia: Australia’s economy is gradually improving, but growth remains below trend and inflation risks have led the Reserve Bank to pause rate cuts.
• Equities & property: Equity valuations outside the US have risen but remain lower than US levels, with strong tech fundamentals and narrowing gaps in emerging markets. Retail, office, and industrial property sectors show improved yields and stability, but face ongoing structural challenges and high vacancies.
• Currency trends: Major currencies are experiencing mixed trends: the Australian dollar is steady but faces uncertainty, the Euro has appreciated, the Yen remains weak but could strengthen.