At the start of 2025, there were three big-picture scenarios facing investors: a hard landing, a soft landing, or no landing at all. Just two of those scenarios remain, with a hard landing now off the table, according to Ten Cap’s Jun Bei Liu.

That view might seem a touch ambitious in light of the market rout that kicked off in mid-February and gathered steam as sticky inflation and a tariff war put equity valuations under pressure.

The headlines and moves are unnerving, but the backdrop for equities remains favourable, and the volatility is creating opportunities to buy businesses at better valuations, according to Jun Bei Liu.

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