What awaits the markets in the second half of 2026: a review of forecasts from the largest investment banks

The first half of 2026 will be remembered for strong growth in corporate profits, record investments in AI infrastructure, the energy shock from conflict in the Middle East, and continued high inflation. The markets turned out to be unexpectedly stable against the backdrop of these contradictory factors, but behind the external stability are hidden serious structural changes that will determine the dynamics of assets until the end of the year. We've looked at forecasts from leading banks and put together a comprehensive guide to the key themes that will drive markets in the second half of the year. We tell you where analysts agree and disagree, and most importantly, what risks you should pay special attention to.

What you will learn about in this article:

• Why inflation remains a key threat to portfolios and how the energy shock has made monetary policy even more unpredictable
• Which stocks and regions do analysts consider most promising for the second half of the year?
• Will the AI ​​Supercycle Become a Sustained Source of Growth or End in a Bubble?
• What the latest forecasts look like for bonds, currencies and commodities