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2026 Outlook

Clearer picture, better growth

This year’s outlook spotlights a world in flux – U.S. stimulus, Europe’s rebound, China’s policy pivots, and Japan’s innovation surge all shape a landscape full of both opportunities and challenges.

As artificial intelligence accelerates and global trade realigns, discover what’s driving markets and how investors can position for the year ahead.

U.S.: slow start, stronger finish
China: a year of imbalanced growth
Japan: embracing a brave new world
Europe’s moment in the sun: will it last?
Emerging Markets may benefit from global recovery
United Kingdom: persistent stagflation
Canada: from uncertainty to adaption

Asset class outlook

Equity

Asia Equities ex-Japan
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Greater China Equities
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Asia Pacific ex-Japan REITs
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Global Equities Diversified Income
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Global Dynamic Leaders
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Global Semiconductor
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Fixed income

Asian Fixed Income
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Preferred Securities
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China Fixed Income
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Multi-assets

Global Multi-asset Diversified Income
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