瀚亚投资：2026年市场展望报告：权衡乐观预期与风险管控（英文版）

According to Ray Farris, Chief Economist, Eastspring Investments, the economic background for 2026 is likely to feature slightly softer growth in United States and Europe, largely offset by fiscal and monetary policy stimulus in Asia. In the US, we expect GDP growth to moderate from about 1.9% in 2025 to 1.6% in 2026. The recent slowdown in employment growth and the steadily rising cost of tariffs will be increasing drags on GDP growth in 2026. The US Federal Reserve (Fed) is likely to