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With rising geopolitical perils, investment opportunities and risks in 2026
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Markets have taken investors on quite a ride in 2025, yet the year is ending on an unexpectedly upbeat note. By mid December the S&P 500 was up more than 16 per cent and the Straits Times Index had done even better at about 19 per cent. Bankers report that some clients are finally edging out of fixed deposits, and more are treating volatility and geopolitical risk as part of the furniture rather than a passing storm. The obvious question is what 2026 does to that confidence, especially with the AI frenzy, a weaker US dollar and fiscal worries all jostling for attention. In this episode of WealthBT, a podcast of BT Correspondents, host Genevieve Cua sits down with Alexandre Tavazzi, head of CIO Office and Macro Research at Pictet Wealth Management, to map out what next year could realistically look like. From a K-shaped US economy that may finally start to close, to opportunities beyond the Magnificent Seven and why gold is back in fashion for reasons that are not purely sentimental, Tavazzi lays out how affluent investors can position for resilience rather than regret.
Produced by: Howie Lim, Claressa Monteiro & Chai Pei Chieh Edited by: Howie Lim & Claressa Monteiro
graphics: HYRIE RAHMAT
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Outlook 2026 - House view
Pictet Wealth Management
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Alexandre Tavazzi
head of CIO Office and Macro Research, Pictet Wealth Management
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If you are heading into 2026 with decent paper gains but nagging doubts about AI froth, the US dollar and bond markets, this episode offers a clear framework for building a genuinely resilient portfolio rather than just a busy one. To find out where equity, income and gold fit in the new year’s asset mix, listen now.
WealthBT, produced in collaboration with Pictet Wealth Management, helps investors cut through volatility and focus on what truly matters: perspective, patience, and purpose.
This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice.
For more episodes, go to bt.sg/podcasts and if you have feedback or an episode idea, please get in touch at btpodcasts@sph.com.sg.
A world that’s no longer US-first Where growth is gathering speed in places most portfolios still ignore.
The K-shape begins to close How Washington’s new playbook could lift America’s left-behind households.
AI’s trillion-dollar bill The sector that won 2025 now faces a reckoning in 2026.
The return of real assets Why gold, copper and the “unprintable” are back at the top of the list.
Why listen
Outlook 2026 - House view
Pictet Wealth Management
Pictet WealthBT Podcasts