Today, we take a humble stab at forecasting the coming year, from the economy and global equity markets to outcomes for rates and FX, as well as touching on key policy and geopolitical topics with uncertain outcomes that could make a mockery of any forecast. We even assemble a sample portfolio for 2026 that we'll return to throughout the year. (Important: this is not a recommendation, it's presented in order to have as a point of departure for discussions).

You can find the sample portfolio instruments listed in a coming post on the John J. Hardy substack (within a few hours of this podcast release).

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Intro and outro music by AShamaluevMusic

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Forecasts for 2026. Also: a stab at assembling a 2026 portfolio.

Saxo Market Call