Investment Outlook October 2025

Investment Outlook
back to Perspectives
10/2025

The third quarter marked a shift from speculation to adaptation as a new economic and geopolitical order began to take shape. US trading partners not only faced unsettling policy pronouncements and high uncertainty but also substantial new tariffs. Meanwhile, the economic impact spread from sentiment-driven indicators to hard data.

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Nadja Bleuler

Chief Economist, Partner
About MFO
Marcuard Family Office was founded in Zurich in 1998 and is an independent, partner-led multi-family office.
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