Matthew Tan from LGT Wealth Management outlines a constructive outlook for markets, stating that both trade and geopolitical uncertainty have likely peaked, marking a shift in positioning towards a reflation theme in 2026. Tan notes that recent headline concerns over the Middle East and unpredictable US policies are less pressing, suggesting that the worst-case scenarios have been removed as credible risks. Instead, he highlights global fiscal stimulation, with easier European and Japanese fiscal policy and ongoing support from China, as pivotal macroeconomic drivers. Tan also maintains an out-of-consensus view that tariffs act as a disinflationary rather than inflationary force.
Receive ongoing access to LGT Wealth Management’s insights and observations - a curated stream of thought leadership, market perspectives, and strategic updates designed to inform sophisticated investors.
