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As we head into 2026, the macro backdrop is shifting again. Growth surprised on the upside last year, particularly in the US. But is that strength sustainable, or are we heading into a more uneven world with widening gaps between the US, Europe and emerging markets?
With rate cuts now underway, the focus turns to what comes next. How close are policy rates to neutral, how far can easing go, and what do fiscal deficits and inflation risks mean for fixed income and real returns? Equity markets remain expensive and highly concentrated, yet alternatives are limited. So how should portfolios be positioned as we look into 2026 and beyond?
Join us as we talk to with Mick Grady, Head of Investment Strategy and Chief Economist at Aviva Investors, as we unpack the critical signals investors need to navigate 2026 with confidence.
What’s one thing you would like listeners to take away?
- “This is a macro backdrop that should be supportive for risk assets into 2026. Cyclical turning points are always tricky to navigate - and duration may not be that hedge in portfolios that we have seen in the past - but the growth recovery which should be positive for risk assets”
