The Drivers Behind the 25-Year Bull Run and What Lies Ahead

Global equity markets have continued the longest rally in history, spanning over 25 years, despite rising waves of uncertainty in the past six years.

Investor Resilience: Scaling the Market Wall

Institutional portfolio managers emphasize the importance of taking risk and providing liquidity even in high‑volatility environments. S&P 500 delivered an %8.2 annual return, while the Nasdaq posted a %10.1 gain.

The Golden Age: LME Copper and Aluminum Stocks in Focus

■LME Copper Stocks fell %12, pushing prices up %6.

■LME Aluminum Stocks dropped %9, while industrial usage rose %4.

■Copper Price reached $4.85/lb, and Aluminum hit $2.35/lb.

China’s Industrial Appetite: The Storm’s Eye

■China PMI climbed to 53.1, the highest in six months.

■Manufacturing export growth hit %7.3, driven by strong demand for high‑tech goods.

■Shanghai Index posted a %4.5 gain, bolstering regional momentum.

Strategic Positioning: New Dynamics in Portfolio Diversification

■ETF inflows recorded a net $22 billion entry, with metal‑ and energy‑focused funds leading the surge.

■Dividend yields remained steady at %2.8, positioning dividends as a safe‑haven asset.

■Interest rates held at %5.25, diminishing the appeal of fixed‑income securities.

Markets are being tested by improving economic indicators yet remain vulnerable to geopolitical risks and policy uncertainty. The shrinkage in LME metal inventories signals that global industry still demands robust input supplies. China’s rising PMI fuels the need for copper and aluminum, reinforcing their bullish outlook. Investors should prioritize diversified ETFs to balance these dynamics while managing risk.