In this mid-year market update, Kayte Black breaks down the forces shaping the 2025 investment landscape. At first glance, markets in 2025 might seem steady. Major indices are near all-time highs, and consumer spending remains resilient. But beneath the surface, major shifts are underway. The sharp rise in U.S. tariffs earlier this year introduced new layers of uncertainty, triggering a global market pullback and fueling a rotation away from U.S. equities. International markets, particularly in Europe and Asia, are gaining momentum thanks to favorable valuations, government stimulus, and currency tailwinds. Meanwhile, Canadian equities have quietly outperformed, supported by strength in gold, mining, and energy. Fixed income markets remain volatile, but there are signs of stabilization, especially in U.S. Treasuries. Looking ahead, the second half of 2025 may be shaped by three key forces: the lingering effects of tariffs, a potential turning point for the U.S. dollar, and growing interest in international diversification. This update outlines why a more balanced, global approach is essential and where long-term investors may find opportunity through 2026. Watch the video to get the full breakdown.