Market Update 17 December 2025, with columns by Harry Geels, Gerd-Jan van Wiggen and Maarten van der Spek
Market Update 17 December 2025

Maarten van der Spek: Why smart property investors rarely engage in development

Property development yields limited additional returns, significantly higher risks and more downside than is often assumed.

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Gerd-Jan van Wiggen: When the ATM falls silent

From cash to multipolar risks: why operational resilience is not an abstract concept, but a daily necessity in a world full of disruptions.

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Harry Geels: Trump's call to lower interest rates is dangerous

Trump demands influence over the Fed. This undermines its independence, weakens the dollar, increases inequality and harms free markets.

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