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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 2Q 2026

Investors are contemplating a wider range of potential macro outcomes and a fatter bearish left tail. We maintain a modest risk-on stance, including an equity overweight. In fixed income, we lean into shorter duration as yield curves steepen. Our credit positioning is neutral, reflecting the asymmetric distribution of returns.

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Factor Views 2Q 2026

Factors posted a largely positive Q1 despite market volatility. U.S. momentum led equity factor gains while commodity supply disruptions lifted certain factors. We maintain a positive outlook on factors: Equity value is attractive globally and the U.S. quality factor is inexpensive.

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Global Fixed Income Views 2Q 2026

Against the backdrop of a geopolitical and energy market shock, we significantly reduce the probability of economic expansion (still marginally our base case) and increase the likelihood of contraction. We see better risk-reward at the front end of the Treasury curve and find opportunity to go up in credit quality.

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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 2Q 2026

Despite higher energy costs, the outlook for profits is robust. While earnings growth is broadening beyond tech leaders, the AI investment boom remains a dominant theme. High valuations in some areas temper our enthusiasm for aggressive positioning. We find the most compelling opportunities in out-of-favor quality stocks.

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