ATBIM 2026 global market outlook
In our comprehensive report, we highlight the forces driving growth, macro investment ideas and provide our house view on global markets for 2026.
The fundamental alignment that propelled global markets to new highs in 2025 is expected to persist, but the landscape is shifting. As we look ahead to 2026, the question on every investor’s mind is, “Will the rally continue?”
Our analysis suggests the answer is yes—but with significant differentiation. While uncertainty remains a constant, our core message for the year ahead is that the global bull market has room to run, provided investors maintain a fundamentally grounded framework.
In our comprehensive 2026 market outlook, we share how corporate earnings remain the single most powerful driver of returns and identify where the strongest opportunities lie in a changing economic environment.
2026 global market outlook
Bridge the gap between global headlines and your investment strategy with our 2026 market outlook.
Inside the report: Key macroeconomic predictions & market calls
- Canada’s productivity challenge: A critical look at the declared "productivity emergency" facing the Canadian economy and why we remain cautious on domestic equities.
- US equities & the OBBBA effect: Accelerating earnings and significant fiscal stimulus (The One Big Beautiful Bill Act) could sustain the multi-year rally and broaden market leadership.
- Global economic resilience: We forecast no global recession on the horizon.
- The Emerging Market (EM) pivot: Improved governance and the rise of the wealthy EM consumer may finally spark a significant catch-up period after a decade of underperformance.
- The EAFE valuation trap: While international valuations appear attractive, we require more evidence of sustained dynamism before increasing exposure.
- Fixed income strategy: Investment grade credit remains a safe haven, while portfolio duration can be optimized as the Bank of Canada puts rate cuts on indefinite hiatus.
As we enter a year defined by regional rotation and shifting fiscal landscapes, strategic clarity is paramount. Our 2026 market outlook provides a comprehensive view of the investment horizon, connecting high-level macroeconomic trends to actionable portfolio insights.
Read the full report
Connect high-level macroeconomic trends to actionable portfolio insights with our 2026 market outlook.
Download nowATBIM is registered as a Portfolio Manager across various Canadian securities commissions with the Alberta Securities Commission (ASC) being its principal regulator. ATB Investment Management Inc. is also registered as an Investment Fund Manager who manages the ATB Funds. ATBIM is a wholly owned subsidiary of ATB Financial and is a licensed user of the registered trademark ATB Wealth.
This Outlook may contain forward-looking statements about future equity, fixed income, sector performance, future returns and general economic factors which are not guarantees of future performance. Forward-looking statements involve assumptions, risk and uncertainties, so it is possible that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution you not to place undue reliance on these statements as a number of important factors could cause actual events or results to differ materially from those expressed or implied in any forward-looking statement. All opinions in forward-looking statements are subject to change without notice and are provided in good faith but without legal responsibility.
Opinions, estimates, and projections contained herein are subject to change without notice and ATBIM does not undertake to provide updated information should a change occur. This information has been compiled or arrived at from sources believed reliable but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. ATB Financial, ATBIM and ATB Securities Inc. do not accept any liability whatsoever for any losses arising from the use of this report or its contents. This report is not, and should not be construed as an offer to sell or a solicitation of an offer to buy any investment. This report may not be reproduced in whole or in part; referred to in any manner whatsoever; nor may the information, opinions, and conclusions contained herein be referred to without the prior written consent of ATBIM.