Plentiful stimulus, rising business confidence, improving loan growth, accelerating fundamentals and still-modest equity positioning could set the stage for a stronger economy and further equity gains, while risks from liquidity gyrations remain.
Asset Allocation Committee Outlook | January 2026
The Asset Allocation Committee (AAC) continues to see opportunity in growth and risk assets over the medium term, even as elevated risks and increasingly divergent policy paths make the investment landscape more complex. We believe this environment rewards disciplined, selective risk-taking.
At the same time developed markets have been generating policy and macro noise, emerging markets have been quietly outperforming. We expect EM risk assets to continue to deliver.