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Multi-Asset Funds: October to December 2025 03 February 2026 Jarred Sullivan

Global markets experienced heightened volatility in the final quarter, driven by a confluence of disruptive factors including, but not limited to, the US government shutdown, conflicting signals from the Federal Open Market Committee (FOMC) members, an unprecedented surge in Japanese sovereign bond yields and geopolitical shocks such as the resignation of France’s Prime Minister.

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Global Market Overview | January 2026 02 February 2026 Ashburton Investments

The first month of the new year was dominated by headlines surrounding geopolitical tension between the United States (US) and several nations as well as a fresh round of new tariff threats. This continued to fuel the “sell America” rhetoric, pushing the US dollar deeper into bearish territory towards levels last seen in 2022.