What’s ahead for markets in 2026?

Artificial intelligence (AI) is driving huge changes across the global economy and financial markets. Investors are now focusing on AI’s profitability rather than its potential. Investment in AI-related physical infrastructure has surged, fuelling strong economic growth, particularly in the US, where incentives and legislation are set to boost its impact in 2026. However, fears of an AI bubble continue to trouble investors, who must remain wary of the risks amid the excitement. A range of macroeconomic issues also continue to impact global economies. Stubborn inflation, diverging growth trajectories...