UBS Global Wealth Management expects global equities to gain around 15% by the end of 2026, supported by a favorable macroeconomic backdrop, according to its newly released 2026 Annual Outlook report.
The UBS Chief Investment Office (CIO) said steady economic growth, combined with accommodative fiscal and monetary policy in key markets, will continue to underpin equity performance over the next two years. The bank highlighted the United States, China, Japan, and Europe as markets likely to deliver further gains.
In the U.S., robust economic expansion and supportive policy conditions are expected to bolster sectors including technology, utilities, healthcare, and banking, the report said.
UBS noted that artificial intelligence and broader technology innovation will remain key engines of global equity growth, driving investment flows and corporate earnings across major markets.
The report added that while geopolitical risks and monetary policy uncertainties remain, the bank believes the overall environment will stay constructive for risk assets, supported by improving productivity, resilient consumer spending, and an ongoing investment cycle in AI and digital infrastructure.
UBS advised investors to maintain diversified exposure across regions and focus on sectors poised to benefit most from long-term structural trends.
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