As the final round of G10 central bank policy meetings for the year kicks off, the emerging theme is divergence. That applies to both the immediate policy decisions and, more importantly, to the outlook for 2026. We think the Fed and the BoJ will lean hawkish over the coming weeks and into next year. Accordingly, we expect higher yields and stronger currencies in the US and Japan.
Will the AI bubble continue to inflate? How will US-China tensions shape trade flows? Will a new Fed chair lead to much lower US rates? We’ll be highlighting what we expect to be the key drivers of macro and markets in the coming year in online Drop-In briefings on Wednesday, 10th December. Register here for our World in 2026 Drop-Ins.
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