Markets are reacting to the Middle East conflict with sharp moves across asset classes, signaling broad risk repricing and shifting safe-haven behavior. While volatility is elevated, fundamentals like earnings growth continue to support our constructive outlook.

The artificial intelligence investment narrative is becoming more nuanced. After several years of unprecedented capital spending by the world’s largest technology companies, investors are no longer debating AI’s theoretical potential.

The 2026 edition of our 10-Year Capital Market Assumptions (CMAs) offers our projections for asset class returns, volatilities and correlations over the coming decade.

The U.S. auto industry is at a turning point: 2025 set the stage and 2026 should bring structural improvements as tariffs bolster domestic pricing, eased penalties save manufacturers money, and a looser regulatory environment enables greater profitability.