In this video, Bill Dinning, Chief Investment Officer, reflects on a strong year for global equity markets, supported by robust earnings growth and a healthy corporate sector across major regions.
He highlights expectations for continued economic expansion into 2026 and notes that falling inflation expectations in the US and UK have helped reinforce a positive backdrop for financial markets.
Bill also examines potential risks to this outlook and how these could influence inflation and future policy decisions.
Key takeaways:
2025 has been a strong year for global equity investors, supported by robust corporate earnings (around 12% growth this year, with 14% forecast for 2026) and continued central bank rate cuts.
The team is watching inflation expectations closely; they've fallen markedly in the UK this year to match the US, but tariffs and tighter immigration policy in the US both carry some risk of pushing prices back up in 2026.
Heading into the new year, the team remains slightly overweight equities and slightly underweight fixed income.
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