Escape velocity?

Year Ahead 2026 - External Escape velocity?

After a year of breakthroughs and surprises, investors face a new set of crossroads. Will momentum carry us forward, or will familiar challenges return? UBS Year Ahead 2026 helps see what’s ahead and how to invest.

by Mark Haefele 20 Nov 2025

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At a glance

2025 was a year of innovation, political upheaval, and market surprises. For the first time in years, China and Europe outperformed US equity markets in dollar terms. Rates fell, and in Switzerland returned to zero rates, and gold hit all-time highs. In the US, markets rebounded from trade-driven volatility with AI-linked innovation and spending as notable drivers.
As we enter 2026, the world stands at a crossroads: Can momentum from AI and innovation help markets and economies achieve “escape velocity,” breaking free from the gravity of rising debt, political uncertainty, and lingering inflation? Or will these forces pull us back to earth?
Our Year Ahead 2026 outlook, “Escape velocity?”, is designed to help investors spot the signals that matter, cut through the noise, and act with confidence. We see stocks moving higher, driven by powerful trends in AI, power and resources, and longevity. As rates come down, it’s time to refocus on portfolio income.
But risks remain. If AI progress slows, inflation picks up again, or debt problems resurface, markets could face new challenges. That’s where we come in. Our commitment is to provide the insights to help investors move forward with confidence. Read more in our UBS Year Ahead 2026.

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Year Ahead 2026 - External Escape velocity?

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