Fidelity International - Mid - Year Outlook 2026

At the half-way point of 2026 our analysts are positive about the global economy and the returns that AI investment is helping companies deliver. But we also recognise there may be further shocks to come. Our latest outlook examines how to deal with higher inflation, where to allocate for this complex macro environment, and where to find the best opportunities in agentic AI. We also share views direct from our portfolio managers, and the latest thinking from our Digital Assets team.

Global Outlok

The shock absorbers

Conflict in the Middle East has reaffirmed the fact that we live in a fragmenting world order, which demands extra vigilance from investors. But strong fundamentals should support risk assets and help cushion shocks through the second half of this year.

Asia Outlok

Asia: Divergence shaped by energy strain and AI strength

Asia’s outlook is being defined by two powerful trends: an energy shock and the artificial intelligence build-out.

Investment ideas

AI: The agents are coming

Fidelity International’s research team explores the best ideas connected to agentic AI.

Building portfolios for an inflationary world

Not all inflationary episodes play out the same way. Context matters for allocators, especially as markets become structurally more unstable.

The line between crypto markets and blockchain-based finance are blurring

Tokenisation demonstrates how blockchain-based financial infrastructure is still advancing despite weak crypto markets, as institutions drive integration between traditional finance and digital assets.

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