2026 Global
Investment
Outlooks
Markets are proving resilient, yet risks linger. Our investment team explores the key themes shaping 2026 — and what they mean for investors.
After a resilient 2025 marked by tariff uncertainty and cooling inflation, the global economy enters 2026 delicately balanced. Economic growth has proven surprisingly durable, and markets have continued to climb. However, mounting government deficits and diverging policy paths remain key risks. Global growth is expected to moderate, and interest rates are likely to stabilise at lower levels. Investors face markets with the scope for further appreciation, but the factors driving performance will differ across regions, sectors and asset classes. In today’s evolving markets, selectivity and diversification are critical to sustaining durable portfolios.
Read our latest macroeconomic, equity and fixed income insights to learn where our team of investment professionals believes the opportunities — and challenges — are likely to emerge in 2026.
2026 Fixed Income Outlook: Seizing opportunities in a rate-cutting cycle
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Meet our thought leaders
William Davies is Global Chief Investment Officer at Columbia Threadneedle Investments since January 2022. He was previously Chief Investment Officer, EMEA, a role he performed since 2019, with responsibility for the oversight of all EMEA investment strategies.
William joined Threadneedle Investments as a European Equities portfolio manager at the company’s inception in 1994. He became Head of European Equities in 1999 and Head of Global Equities in 2011. In 2016, William became Head of Equities, EMEA and in 2017 he became Global Head of Equities, assuming responsibility for the company’s equity teams across all regions. William performed this role until October 2021. Before this William worked for Eagle Star Investments. He has also worked for Hambros Bank as a European Investment Manager where he led the European equity team.
William holds a BA (Hons) in Economics from Exeter University.
Nicolas Janvier is Head of North American Equities at Columbia Threadneedle Investments. He took up this role in February 2024. He was previously Head of US Equities EMEA. Nicolas has been with the company / predecessor organisations for over 20 years, working as a US equities portfolio manager in both our US and London offices. This included working as a portfolio manager with the Private Bank at Bank of America before moving within the business to Columbia Management in 2006, where he spent eight years in our New York office as a portfolio manager in the Value Strategies team focusing on US mid and small cap companies. Nicolas moved to the London office in 2014 before relocating to the New York office in 2024. Nicolas has a BSc in Telecommunications-Operations from the University of Florida. He also holds the Chartered Financial Analyst designation.
Neil Robson is Head of Global Equities, EMEA at Columbia Threadneedle Investments. He took up this role in July 2017. He joined the company in 2011 as a portfolio manager within the Global Equities team. He is the deputy manager of the Threadneedle Global Select Fund and manages a number of global equity mandates for institutional clients. He is also the co-manager of the Threadneedle Global Extended Alpha Fund.
Before joining the company, Neil worked as a fund manager at companies including Martin Currie, Barings and Citibank. In addition, he was Head of Global Equity at Pioneer Investments from 2003 to 2009.
Neil has an Economics degree from the University of Bristol.
Gene Tannuzzo is a senior portfolio manager and Global Head of Fixed income at Columbia Threadneedle Investments. He is involved in the management and oversight of the firm’s fixed income business in North America and EMEA. He joined Columbia Threadneedle Investments in 2003 and moved into the role of portfolio manager in 2007. In this role, he leads the fixed income asset allocation committee and serves as lead portfolio manager for the Strategic Income and Income Builder strategies. He is also a member of the portfolio management team for the Core and Core Plus strategies and institutional portfolios. Prior to this, he was a member of the municipal bond team.
Gene received a BSB. and MBA from the University of Minnesota, Carlson School of Management. In addition, he holds the Chartered Financial Analyst designation.
Ed leads the firm’s research on global interest rates. He also manages the emerging market credit research team. He joined the firm in 2015. Prior to Columbia Threadneedle Investments, he worked as a strategist at Peridiem Global Investors, a Los Angeles based macro hedge fund, as a sovereign ratings analyst at Moody’s and a financial sector economist at the International Monetary Fund and the World Bank. He holds a Master’s of Public Administration degree in Economics and International Development from Harvard University and a B.A. in Mathematical Economics from Colgate University.