2Q25 Market Review: Suddenly It’s a Folk Song

Though the early-April “Liberation Day” tariffs announcement struck a discordant note, a delay in the most punitive levies proved to be sweet music to investors even as trade noise continued to reverberate throughout the quarter.

2Q25 Market Review: Suddenly It’s a Folk Song

Though the early-April “Liberation Day” tariffs announcement struck a discordant note, a delay in the most punitive levies proved to be sweet music to investors even as trade noise continued to reverberate throughout the quarter.

  • Video

    Could Rate Cuts Deliver More Risk than Reward?

    Portfolio Manager and Senior Research Analyst Christian Heck explains why the Global Value team believes that expectations for rate cuts suggest more potential downside than upside.

birdseye of boats on water

Strategies

  • Equities

    Adopting a business-owner mindset in an effort to build resilient portfolios of stocks across geographies and market capitalizations.

    • Global
    • US Small Cap
  • Fixed Income & Currencies

    Applying vigorous underwriting discipline to income-oriented opportunities in investment grade and non-investment grade securities.

    • Currency Management
    • High Yield
    • Investment Grade
    • Short-Term Liquidity
    • Sovereign Debt
  • Alternative Credit

    Searching for differentiated sources of risk and return, income and hedging potential in less traditional credit markets.

    • Asset Based Lending
    • CLO Equity & Debt
    • European Bank Loans
    • European CLO Management
    • European Credit
    • Global Credit Derivatives
    • US Leveraged Loans
    • US CLO Management
    • US Direct Lending
    • US Mortgage & Consumer
    • US Municipals
  • Real Assets

    Leveraging the scarcity inherent in essential long-duration physical assets in an effort to grow capital over time.

    • Aviation
    • Gold
    • Industrial Equipment
    • Listed Real Assets
    • Railcar
    • Renewable Energy

Investment Culture

Differentiated investment approaches; an undivided commitment to long-term client outcomes

First Eagle Investments over time has deliberately sought to nurture an investment-led culture supported by a set of core investment tenets that encourages philosophical autonomy among our portfolio management teams in pursuit of client goals.

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