The fourth quarter of 2025 saw steady growth across global markets. A number of market indices
ended the year close to multi-year or record highs, marking the end of a strong time for assets
with greater risk. The Fed met expectations by lowering interest rates, the S&P 500 reached an
all-time high in the fourth quarter, and enormous investment in AI infrastructure proceeded at a
rapid pace, all of which supported predictions for sustained economic and corporate earnings
growth in 2026. The S&P 500 continued its impressive three-year run with a slightly positive
return for the fourth quarter and an annual return of about 20%.
Investment report Q4 25
SFB SA
14/01/2026