Fullerton Insights

Risk appetite jolt in US software unlikely to derail strong fundamentals. Active management is key in navigating alpha rotations.

Exceptionalism can continue with strong risk appetite and the AI revolution. We have a constructive outlook for risk assets in 2026.

Financial markets have shrugged off the capture of President Maduro, but this event reflects the new "Realpolitik" world where outcomes matter more than methods.

Investors should be vigilant and diversified across locations and asset classes,, given rich equity valuations and declining risk appetite.

US shutdown driven by partisan gridlock - not due to fundamental funding concerns. Markets appear unbothered. Limited long-term impact foreseen.