2026 Outlook: Finding Value Amid the Hype
Our 2026 outlook provides our perspective on the global economic environment and presents 15 key views across asset classes.
Investment Planning
2026 Outlook: Portfolio-Wide Views
In 2026, investors should rebalance portfolios to embrace greater diversification, thoughtfully navigate opportunities in artificial intelligence, and prioritize investments across the electricity transmission value chain. With heightened equity risks and a weakening US dollar, a disciplined, multi-asset approach will help strengthen portfolio resilience and capture emerging growth themes.
A US-China Trade Deal Would Show Desire for Gradual Strategic De-risking, Not Abrupt Decoupling
Global markets rallied on October 26 following news that the United States and China have reached a “preliminary consensus” on several key issues. Although a formal agreement has not yet been announced, both sides are clearly working to de-escalate trade tensions that intensified in early October.
Building Resilient Portfolios: Liquid Diversifiers for Today’s Institutional Challenges
Liquid diversifiers represent a modern approach to portfolio construction, offering the potential for uncorrelated returns, improved liquidity, and enhanced risk management.
Weathering the Latest US Government Shutdown
Historically, shutdowns have been short-lived and have had negligible economic and market impact. As such, well-diversified investors need not take specific portfolio action in response.
Heightened Inflation Risks Favor Building More Resilient Portfolios
Description: In today’s environment, building resilient portfolios is essential. Inflation risks are elevated and macroeconomic uncertainty is high. Allocating capital to hedge macro risks may reduce returns, so investors should carefully consider risk tolerance, objectives, and spending needs when assessing their allocations.
Have Markets Moved Beyond Peak Tariff Uncertainty?
Yes, the period of greatest tariff uncertainty for global equity investors is likely behind us.
VantagePoint: What to Do About the US Dollar?
In this edition of VantagePoint, we examine the historical context of the dollar, outline why we believe the recent decline is likely part of a multi-year bear market, and discuss strategies investors can use to reduce their dollar exposure.
Navigating the AI Revolution
The first paper in the series introduces the current state of AI as a technology, compares its evolution to prior technological shifts, and briefly outlines future potential trajectories. Part 2 explores how AI may reshape productivity, and the market’s reaction in investment terms. Part 3 addresses the extensive implications for asset allocation and provides guidance on how investors can position themselves for the various disruptive forces that may be unleashed.
Navigating the AI Revolution: State of the Technology Today and Potential Future Trajectories
This first paper in the series introduces the current state of AI as a technology, compares its evolution to prior technological shifts, and briefly outlines future potential trajectories.