Robeco’s 2026 Investment Outlook sets out a base case where easing policy, fading trade friction and early productivity gains align into a short-lived synchronized upswing across major economies.
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The central scenario points to resilient global growth, with the US slowing modestly, Europe re-accelerating on fiscal support, and China edging toward domestic revival.
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Inflation stays sticky but contained, keeping central banks on an easing path while raising the risk of policy error later in the cycle.
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Equities benefit from earnings breadth beyond U.S. mega-caps, while bonds face pressure from higher term premia and fiscal dominance.
To see how this “Neapolitan moment” shapes asset allocation—and where the harmony may break—the full outlook provides the detailed score.
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