September 2025 Quarter Investor Insights: Balancing Resilience and Risk

Global markets remained steady through the September quarter, with optimism supported by policy easing and strong corporate earnings — even as trade tensions and inflation persisted. Quilla’s latest Investor Insights explores how these forces are shaping the outlook for 2026, balancing near-term caution with longer-term opportunity.

What’s Inside The September 2025 Investors' Insights Report

• Slower global growth ahead – global economic activity is expected to cool before reaccelerating in 2026, supported by fiscal and monetary stimulus.

• Australian resilience – Australia’s economy continues to outperform expectations, with GDP growth forecast to lift to 2.2% by the end of 2026.

• Earnings divergence – the recent reporting season highlighted how sharply markets reward or punish results, as investors react to earnings misses.

• Valuations and earnings – global equity valuations remain reasonable when forward earnings are considered, with Emerging Markets offering the most attractive growth outlook.

• Bull vs bear cases – from the bullish tailwinds of AI and fiscal expansion to the risks of inflation, trade policy, and debt levels, the outlook remains finely balanced.

• Fourth-quarter outlook – investors face a mix of headwinds and opportunities as structural themes like AI and the energy transition continue to drive long-term growth.

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Final thoughts

The September quarter paints a picture of resilience amid complexity. With strong corporate fundamentals offsetting policy and inflation risks, markets remain cautiously optimistic heading into the final months of the year.

If you’d like to discuss how the September 2025 investor insights impact your long-term investment approach, our team is here to help.

You might also like to read our September 2025 Market Update for a detailed month-by-month view of performance.

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