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investment-outlook-2026-macro

 

 

 

Investment Outlook 2026

Fuel in the engine  

With policy and innovation powering the global economy, investors are on a journey full of promise and potential derailments. Read our Investment Outlook 2026 to discover how diversifying across regions and sectors, and preparing for inflation or asset bubbles can help navigate the twists and turns.
 

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Our flagship Insights

Guide to the Markets

The J.P. Morgan Guide to the Markets illustrates a comprehensive array of market and economic histories, trends and statistics through clear charts and graphs.

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Long-Term Capital Market Assumptions

Discover J.P. Morgan's Long-Term Capital Market Assumptions, drawing on the best thinking of our experienced investment professionals worldwide.

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Guide to Alternatives

Get insights on macro topics such as manager dispersion, while also diving into real estate, private credit, private equity and hedge funds and more.

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Featured Portfolio Insights

Global Asset Allocation Views 4Q 2025

U.S. and global growth look to be resilient in 2026. Our pro-risk tilt in portfolios is expressed through equities, while tight spreads keep us near neutral in credit. Big tech continues to lead in earnings and cash flow generation. We anticipate a weaker dollar and steeper yield curves.

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Factor Views 4Q 2025

Equity factors continued to diverge by region: U.S. equity value and quality were challenged by a speculative market tone, while international equity factors posted another strong quarter. Momentum and carry factors were all positive.

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Global Fixed income views 4Q 2025

Amid strong corporate balance sheets and global fiscal expansion, the U.S. is likely to avoid recession, although growth may slow. We approve Federal Reserve policymakers’ pause, given current uncertainties. We favor non-U.S. exposures, emerging market debt, AT1 securities and securitized credit.

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Emerging Market Debt Quarterly Strategy

Our quarterly EMD strategy report assesses the latest economic developments in emerging markets and sets out our base case scenario for the asset class.

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Global Equity Views 4Q 2025

Profits seem to be accelerating and 2026 looks solid. Many of our investors have become somewhat more cautious. We suggest diversifying from recent winners and focusing strongly on quality stocks, especially in the small cap space.

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