Accessibility StatementSkip Navigation This year marks the flagship report's 30th anniversary, showcasing J.P. Morgan's long-standing market expertise and leading research capabilities NEW YORK, Oct. 20, 2025 /PRNewswire/ -- J.P. Morgan Asset Management today released its 2026 Long- Term Capital Market Assumptions (LTCMAs), providing a comprehensive 10-15-year outlook for returns and risks across asset classes as the forces that drove volatility in recent years abate. George Gatch, CEO of J.P. Morgan Asset ...

行业政策背景 - 美国特朗普政府推行经济民族主义政策 包括政府对关键矿产公司进行股权投资[1] - 美国政府对在加拿大温哥华注册的Trilogy Metals Inc进行3560万美元投资 并获得10%股权[1] - 美国政府对在加拿大温哥华注册的Lithium Americas Corp收购权益 该公司正在开发内华达州Thacker Pass锂项目[1] 加拿大政府立场 - 加拿大工业部长梅兰妮·乔利表示 需要对美国政府在加国关键矿产公司的投资进行"个案评估"[1] - 加拿大将根据《加拿大投资法》对交易进行逐案审查[2] - 加拿大政府面临吸引资本与维护国家主权和控制关键矿产流向的挑战[5] 行业潜在影响 - 若加拿大进行阻挠 相关矿业公司可能为获得美国政府资金而迅速将业务迁出加拿大[3] - 加拿大近年已加大限制外国国有公司收购其矿业公司的难度 曾阻止中国实体收购拥有锂和铜项目的公司大量股权[4] - 加拿大政府正与多国政府进行持续对话以应对当前挑战[5]

NEW YORK, NEW YORK - SEPTEMBER 23: Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2024 in New York City. Javier Milei, President of Argentina, rang the opening bell to recognize the 79th Session of the United Nations General Assembly as stocks opened up slightly up to start the week. (Photo by Michael M. Santiago/Getty Images)Getty ImagesAt the end of every month, quarter, and year I like to step back and review what actually happened in the market. That hel ...