Insights

《大而美法》（The One Big Beautiful Bill Act），是美国总统特朗普的标志性重大立法，将在美国经济各领域实施全面改革。该法包含促进经济增长、有利于投资者和企业的条款，但同时也给本已居高不下的联邦债务负担带来更大压力。本文将分析该法的亮点与不足，并评估其潜在经济影响。

We discuss key factors that have pushed the S&P 500’s valuation back up to lofty levels and how investors should weigh this in the portfolio decision-making process.

英国工党自 2024 年 7 月上台执政以来，接手的是一个因脱欧及多年政治动荡而伤痕累累的国家。面对来自特朗普再度当选总统所带来的新地缘政治与经济压力，可持续的经济增长变得更加困难。虽然工党已取得一些进展，但英国经济依然脆弱。不过对价值型或收益型投资者而言，英国仍存在一些良好的投资机会。

President Trump’s mega-legislation brings pro-growth, investor- and business-friendly measures but also puts greater strain on the already very high federal debt. We look at the highlights and lowlights before assessing the potential economic impact.

For the Labour Party, restoring sustainable growth was always going to be challenging. A year on and the UK economy remains fragile, yet some investors may find the UK still offers some rich pickings.

While the stock market narrative may sound familiar—U.S. equities navigating waves of volatility on the way to new highs—the environment certainly was not. We examine four catalysts that held sway over performance and what lies ahead for investors.