Jun 15, 06:30 PM - 10:00 PM (CET)
The global economy is entering the second half of 2026 with widening divergences across major regions. The United States continues to display exceptional momentum, powered by robust AI‑related business investment, a solid labour market, and steady consumer demand. Europe, by contrast, is losing altitude as services activity softens, even though manufacturing has shown a temporary rebound. China is slowing more broadly: household spending, corporate investment, and credit creation are all weakening, leaving exports as the only remaining support — a dynamic that is unlikely to prove durable.
In markets, the recent rise in bond yields has challenged the dominance of Tech and AI equities. Yet the structural drivers behind the theme remain intact, suggesting that outperformance can persist, even if the extraordinary leadership of recent quarters becomes more measured.
Looking ahead to the remainder of 2026, the key macro risk lies in the United States. Inflation pressures are not primarily the result of higher energy prices; they stem from the strength of domestic demand and an unemployment rate that remains exceptionally low. With the economy running hot, the Federal Reserve is unlikely to deliver the rate cuts once priced by markets. A prolonged pause — or even a further hike — is a plausible scenario.
These shifts underscore a broader reality: traditional macro playbooks are being rewritten. Understanding where growth is resilient, where it is fading, and where policy constraints are tightening will be essential for navigating the investment landscape in the months ahead.
Join us to hear Daniel Morris , Chief Market Strategist at BNP Paribas Asset Management (BNPP AM) and co-head of the Investment Insights Centre , who will explore with these themes in this 2026 Mid- Year Outlook.
The presentation will be followed by a networking cocktail.
Luxembourg, Luxembourg