Global political and economic events have been dramatic in recent years, yet stockmarkets have still made progress.

Markets are forecasting interest rate cuts across the rich world in the early part of 2026. This offers the potential for improved performance from parts of the global stockmarket that have been less immediately lifted by the growth of artificial intelligence.

We take a deep dive into AI and markets, considering whether recent equity moves linked to AI could represent a speculative bubble or a sustainable shift.