The year opens with a global economy that is neither stalling nor accelerating decisively, but increasingly shaped by overlapping and, at times, conflicting forces. Growth .

Growth and inflation indicators ended the year on a steadier footing.

We maintain a neutral strategic stance on US duration and rely on tactical implementation. Growth momentum continues to look resilient rather than fragile, and the labour market is showing signs of stabilising at lower levels rather than accelerating deterioration. Survey data supports this view, and high-frequency growth tracking remains firm, reinforcing our assessment that recession risks are not the central case in the near term.

European equities have risen sharply since the last Equity Committee in December, with small caps outperforming large caps.

The focus this week will be the World Economic Forum’s annual meeting in Davos, where US President Trump is scheduled to give a special address and where ECB President Lagarde is also expected to speak.

The focus this week will be on the US CPI report for December and the release of the Fed’s Beige book ahead of the FOMC end-January.

Investor focus at the start of the year will centre on the US December job report, as recent labour market signals have been increasingly noisy.

As AI capex intensifies, China accelerates and opportunities broaden across regions, how should investors approach portfolio construction for 2026?

Impact investing can align tangible outcomes with financial outcomes, potentially a path to restoring confidence in sustainable finance.

Global growth is slow but steady, AI is driving investment cycles, and central banks are backstopping risk. Explore our 2026 outlook: equity conviction, monetary policy shifts, and the evolving role of gold and EM debt in balanced portfolios.

Data releases will be sparse during the holiday season as Christmas and New Year’s Day festivities around the world are expected to cool down financial market activity.

As it has over the past 2 years, credit remains an asset class of choice for global fixed income investors. The combination of enduringly sound fundamentals, powerful technical forces, and generous yields has rendered credit a rare anchor of stability in a world still wrestling with volatility and policy uncertainty.

Safe haven, inflation hedge, diversifier, or conviction asset – what role does gold play today?

While private credit and high yield markets will continue to offer opportunities in 2026, rigorous selection becomes essential for investors.

With policy clarity returning, innovation accelerating and M&A heating up, is biotech poised for a powerful new growth phase?

Data-dependent investors may be well rewarded heading into Christmas, with a heavy US data slate – including the delayed jobs report and the key inflation prints.

What role will AI play in the electricity revolution?

AI is reshaping industries at record speed, but is this boom a bubble – or the start of a lasting transformation?

Innovation, policy resets, and strategic resilience redefine China’s path to global leadership.

For investors, the focus will be on the Fed’s decision and any accompanying dissents, while other key central bank meetings include those of the Reserve Bank of Australia, the Bank of Canada, and the Swiss National Bank.

Why Europe’s autonomy agenda is becoming a powerful catalyst for new investment cycles and sector-level opportunities.

Candriam has once again been awarded five stars across all modules in the 2025 UN Principles for Responsible Investment (PRI) Assessment, confirming its leadership and long-standing commitment to responsible investing.

Can political interference undermine the Fed's independence and credibility?

At the start of the final month of the year, investor focus will be on global PMIs to gain insights into activity, prices and jobs in the manufacturing and services sector globally.

The year now drawing to a close has been one of paradox.