Episode Description
In this episode of Hymans Robertson On... Investment, Ben Farmer is back in the hosting chair to bring you a mainstay episode in the form of a Capital Markets mid-year update for 2025.
Ben is joined by Chris Arcari, Head of Capital Markets at Hymans Robertson, and Torsten Slok, Chief Economist at Apollo Global Management, to take a look at market movements from the first half of 2025 and discuss what we might expect to see in the second half of the year.
Throughout the episode, our experts cover:
They round off the episode with some practical takeaways:
Chapters
01.10 – Introduction
02.16 – Quick summary of economic and market developments 2025 to date
04.20 – Key economic themes and “Nike Swoosh” expectations
08.50 – Recession risks and bubble conditions
14.06 – Market impacts and areas of relative value
16.51 – Outlook for private market assets
21.18 – Practical takeaways and implications for asset allocation decisions
23.52 – Summary and wrap up
Related content
Investment perspectives - July 2025 edition
Capital Markets update - Summer 2025
Daily Spark - Apollo Academy
Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.
The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance.
Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.
Ben is joined by Chris Arcari, Head of Capital Markets at Hymans Robertson, and Torsten Slok, Chief Economist at Apollo Global Management, to take a look at market movements from the first half of 2025 and discuss what we might expect to see in the second half of the year.
Throughout the episode, our experts cover:
- How US growth can be likened to a well-known sports brand's swoosh.
- Recession risks.
- Market impacts and areas of relative value.
- An outlook for private market assets.
They round off the episode with some practical takeaways:
- Understanding equity allocations, including exposure to the US and specific sectors.
- Reviewing currency hedging, given that the US may no longer be the 'safe haven' it once was.
- Assessing credit exposure.
Chapters
01.10 – Introduction
02.16 – Quick summary of economic and market developments 2025 to date
04.20 – Key economic themes and “Nike Swoosh” expectations
08.50 – Recession risks and bubble conditions
14.06 – Market impacts and areas of relative value
16.51 – Outlook for private market assets
21.18 – Practical takeaways and implications for asset allocation decisions
23.52 – Summary and wrap up
Related content
Investment perspectives - July 2025 edition
Capital Markets update - Summer 2025
Daily Spark - Apollo Academy
Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.
The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance.
Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.