Discover the economic and investment outlook that will shape the coming year, along with our asset allocation strategies.
Looking ahead to 2026, we anticipate sustained growth, contained inflation and policies that support the cycle, an environment that favours investment and diversification. In this context, we expect global equities to move towards new highs, selective opportunities to emerge in fixed income as monetary conditions adjust, and gold to continue consolidating itself as a structural trend and a powerful portfolio diversifier.
A year of new challenges and opportunities calls for a clear vision.
๐Watch how we view the markets in 2026.
*๐๐ฉ๐ช๐ด ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ฉ๐ข๐ด ๐ฃ๐ฆ๐ฆ๐ฏ ๐๐ณ๐ฆ๐๐ข๐ณ๐ฆ๐ฅ ๐ฃ๐บ ๐๐ข๐ฏ๐ต๐ข๐ฏ๐ฅ๐ฆ๐ณ ๐๐ด๐ด๐ฆ๐ต ๐๐ข๐ฏ๐ข๐จ๐ฆ๐ฎ๐ฆ๐ฏ๐ต, ๐ค๐ฐ๐ฏ๐ต๐ข๐ช๐ฏ๐ด ๐ฆ๐ค๐ฐ๐ฏ๐ฐ๐ฎ๐ช๐ค ๐ง๐ฐ๐ณ๐ฆ๐ค๐ข๐ด๐ต๐ด ๐ข๐ฏ๐ฅ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐จ๐ข๐ต๐ฉ๐ฆ๐ณ๐ฆ๐ฅ ๐ง๐ณ๐ฐ๐ฎ ๐ด๐ฆ๐ท๐ฆ๐ณ๐ข๐ญ ๐๐ถ๐ฃ๐ญ๐ช๐ค ๐ด๐ฐ๐ถ๐ณ๐ค๐ฆ๐ด. ๐๐ฐ๐ฆ๐ด ๐ฏ๐ฐ๐ต ๐ค๐ฐ๐ฏ๐ด๐ต๐ช๐ต๐ถ๐ต๐ฆ ๐ข๐ฏ ๐ช๐ฏ๐ท๐ฆ๐ด๐ต๐ฎ๐ฆ๐ฏ๐ต ๐ข๐ฅ๐ท๐ช๐ค๐ฆ, ๐ข๐ฏ ๐ฐ๐ง๐ง๐ฆ๐ณ ๐ฐ๐ณ ๐ด๐ฐ๐ญ๐ช๐ค๐ช๐ต๐ข๐ต๐ช๐ฐ๐ฏ ๐ต๐ฐ ๐๐ถ๐ณ๐ค๐ฉ๐ข๐ด๐ฆ ๐ฐ๐ณ ๐ด๐ฆ๐ญ๐ญ i๐ฏ๐ท๐ฆ๐ด๐ต๐ฎ๐ฆ๐ฏ๐ต ๐ง๐ถ๐ฏ๐ฅ๐ด ๐ฐ๐ณ ๐ฐ๐ต๐ฉ๐ฆ๐ณ ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐๐ณ๐ฐ๐ฅ๐ถ๐คt๐ด.
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