Capital Market Expectations Analysis

You are a financial consultant for a family office that is reevaluating its investment strategy. The family office is concerned about the impact of macroeconomic trends on their portfolio performance. Your task is to analyze the current economic landscape and provide capital market expectations over the next five years for equities, fixed income, and alternative investments. Consider key factors such as interest rates, inflation, global economic growth, and geopolitical risks in your analysis. Clearly articulate your forecasts and support your expectations with relevant data and rationale.