Mid-Year Outlook 2026
Different Worlds
Key takeaways
Two shocks and a boom
Economy shaped by supply-side shocks and the AI boom
Broadening beyond borders
A different, more selective, kind of broadening out in 2026
Yield to opportunity
In a fragmented world order, which diversifiers can investors rely on?
Discover our 2026 Mid-Year Investment Outlook Report
The global economy is facing a complex set of supply shocks that is pulling the macro system in confusing and sometimes contradictory directions. Meanwhile, markets have shaken off geopolitical worries, helped by strong corporate profits. Essentially, the economy and markets are living in “different worlds”.
In our report, we highlight our key themes for the second half of 2026 and the different market implications.
Disclaimer
The value of investments and income from them can go down as well as up and investors may not get back the amount originally invested. For illustrative purposes only, this document is a global view of the recent evolution of the economic conditions. This document provides a high-level overview of the recent economic environment. It is for marketing purposes and does not constitute investment research, investment advice nor a recommendation to any reader of this content to buy or sell investments. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of its dissemination.