M&G Investments：2026年投资展望报告（英文版）

2025 has been a tremendous year for many investors. At the time of writing, most of the major asset classes have delivered very strong investment returns, with many stock markets reaching record highs. Markets have been resilient through repeated shocks, not least Liberation Day in April. Some of the outcomes are surprising. Among equity markets, South Korea’s c.70% rise stands out, especially as the market narrative at the start of the year was focused on US exceptionalism. The S&P 500 I