Investment Outlook 2026: bull vs bubble
The global economy enters 2026 with a volatile mix of calm and concern. Trade tensions, fiscal pivots, and an investment boom in artificial intelligence have defined the past year, and they will continue to shape the future. And the question for investors is whether today’s bull market is built on the solid ground of fundamentals or on the froth of a speculative bubble?
In our 2026 Investment Outlook publication:
-
Joe Prendergast, Head of Investment Strategy, outlines how trade tensions, fiscal pivots, and an investment boom in artificial intelligence have defined the past year, and will continue to shape the future.
-
Dermot O’Leary, Chief Economist, outlines how the global economy climbed a wall of worry in 2025 to deliver steady growth.
-
Bernard Swords, Chief Investment Officer, outlines an encouraging picture for stock markets in 2026 and presents our average annual return from equity markets over the next five years.
-
Elizabeth Geoghegan, Head of Fixed Income takes stock and reviews the lessons we have learned in 2025 with an in-depth review of fixed income markets.
To delve into our views, read our Investment Outlook by clicking the button below.
