Market calls for 2026 already laced with ‘Buy, but...’
The conviction about the economic picture seems weaker than usual
Add BT as a preferred source
AS CONSENSUS forms around next year’s investment outlook, it is hard to find many outright stock market bears. Yet, an economic mix not seen for more than half a century means few forecasts come without serious qualifiers.
The biggest puzzle of 2025 is transpiring to be less about how markets shrugged off US President Donald Trump’s tariff war and more about how the artificial intelligence (AI) investment boom has managed to accelerate without creating many jobs.
As economists at JPMorgan insist, the juxtaposition of an AI-led capex explosion and stalling labour market has not been evident in any US expansion for the past 60 years.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Manulife pulls loan product for rich Hong Kong clients after scrutiny
