Ten Themes for 2026
Happy New Year! 2025 had its fair share of surprises—but through it all, the economy and markets showed incredible resilience. Economic growth held near trend at 2%, the S&P 500 soared to 38 record highs, finishing up ~17.9%. Bonds staged a comeback with the Bloomberg US Aggregate posting its strongest annual gain since 2020—up 7.3%. Now, as we turn the page to 2026, new challenges await: geopolitical tensions, lofty valuations, and an evolving macro backdrop. That’s why we’re excited to unveil our Ten Themes for 2026, inspired by Mission: Impossible—celebrating the 30th anniversary of its first movie this year. The good news? While returns may feel 'impossible' at times, long-term investors can succeed by staying agile, focusing on fundamentals, and seizing opportunities along the way. Join us Monday, January 5 at 4 PM EST for our annual outlook as we explore what’s ahead for the economy and markets.
