Balance Returns to the Center in 2026

Capital Group’s 2026 Outlook sets out a shift from narrow leadership toward a more balanced market, supported by easing policy, resilient global growth and improving earnings visibility. 

• Policy clarity and stimulus across the U.S., Europe and Asia underpin a synchronized expansion, with tariff-driven uncertainty fading and consumption resilient.

• Market breadth improves: international equities outperform and earnings estimates strengthen, while elevated valuations heighten the risk of pullbacks.

• High-quality bonds and select credit offer meaningful income and ballast; dividends and short duration help manage volatility.

If you want to trace how this balance reshapes multi-asset positioning, the full outlook develops the macro and sector-level implications in depth.