They argue 2026 will be defined by surprise and policy-driven volatility across markets. Discussion covers global fragmentation reshaping capital allocation and new risk patterns. They review recent U.S. policy shocks and Japan’s fiscal move with bond-market reverberations. Practical playbook ideas focus on agility, relative-value strategies, and keeping portfolios adaptable and liquid.
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insights INSIGHT
Expect A Year Of Surprises
2026 may be defined by surprise rather than stability as policy volatility reshapes markets.
Investors should expect frequent, event-driven price swings across asset classes and regions.
insights INSIGHT
Fragmentation Replaces Global Stability
The world is moving into a 'Fragmentation Era' where open-market norms are weakening and strategic interests rise.
This raises dispersion and policy-sensitivity, widening gaps between winners and losers.
question_answer ANECDOTE
A Month Of U.S. Policy Surprises
January's U.S. policy surprises included a Venezuela military operation, Greenland uncertainty, and a credit-card rate cap proposal.
These moves sparked sharp reactions in banks, insurers, and the dollar, showing policy risk creates both risk and opportunity.
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In this episode, we discuss why surprise, rather than stability, may be the defining feature of 2026 as policy volatility reshapes markets and investment opportunities,
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