Opportunities on the Horizon: Investing Through a Slowing Economy

1 CONTENTS Overview 1.1 From the desk of the CIO: The bumpy road to recovery XX 1.2 Recession, recovery: An unfinished journey XX 1.3 As a decade of dollar dominance en ds, how currencies will drive future returns XX 1.4 A guide to investing through a sl owing economy XX 5 Unstoppable Trends 5.1 Putting national security interests ahead of economic cooperation: The evolution of G2 deglobalization and its implications 44 5.2 Unusual investment opportu ities in an atypical energy cycle 50 5.3 Generative AI: The beginning of (another) technological revolution 57