Gibbs: It's more about visibility, about how to plan for 2026

Market Outlook & Trade - US-China trade relations and potential summits significantly impact market sentiment [1][2] - Resolution on issues like TikTok could boost market confidence [2] - Market seeks certainty to facilitate financial planning and cost estimation [2] Interest Rate & Monetary Policy - Market anticipates a 25 basis point (0.25%) rate cut, with potential for more [4] - Further rate cuts, especially reaching 200 basis points (2%), are expected to stimulate loan activity and capital expenditure (capex) [7][11] - The impact of rate cuts on smaller capitalization companies is expected to be more pronounced due to their reliance on short-term loans [5][6] Investment Strategy - The company is considering spreading investments across different capitalizations, particularly focusing on small and mid-cap companies [5] - Small and mid-cap stocks are viewed as potential beneficiaries of future rate cuts, especially as cuts approach 200 basis points (2%) [5][7][11] - Portfolio repositioning for 2026 is recommended in anticipation of further rate cuts [10] Capex & Company Growth - Capex is crucial for small and mid-cap companies, not just mega-cap tech [8][9] - Increased capex is expected to drive growth once significant rate cuts materialize [7]