摩根大通：2026年展望报告：AI、市场碎片化与通胀新前沿投资精析（英文版）

An era of low inflation and seamless globalization is clearly over. In its place, three powerful, interconnected forces are defining a new market frontier: artificial intelligence (AI), global fragmentation and inflation. Collectively, they present one overarching challenge: How should you invest in a world where the promise of productivity growth driven by AI collides with the pressure of stickier, more volatile inflation and a fractured world order?