Mitihoon – SCB Julius Baer Securities Co., Ltd. hosted an exclusive seminar titled “Global Economic Outlook for the First Half of 2026” (Market Outlook H1/2026) under the theme “Crossroads of a Growth Renaissance”, tailored for Ultra High Net Worth Individuals (UHNWIs). The seminar highlighted key factors expected to influence investment decisions in the first half of 2026. Julius Baer views the global economic and investment landscape in 2026 as a year of “Resetting and Rebalancing” of the global financial system. One of the major turning points is the appointment of a new Chairman of the U.S. Federal Reserve, reflecting a transition in U.S. monetary policy leadership. At the same time, policy divergence among the United States, Europe, and China is becoming increasingly pronounced, prompting investors to reassess and allocate investments across regions more carefully than ever.
The seminar was honored by the presence of Mr. Adrian Mazenauer, Chief Executive Officer and Mr. Kean Tan, Managing Director Senior Advisor Head of Investment Solutions, SCB-Julius Baer Securities Co., Ltd., together with Mr. Mark Matthews, Head Research Asia and Mr. Louis Chua, Analyst, Research Asia, Bank Julius Baer; and Mr.Ray Jia, Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China), World Gold Council. The event was recently held at Dusit Thani Bangkok Hotel.
Mr. Adrian Mazenauer, Chief Executive Officer of SCB-Julius Baer Securities Co., Ltd., stated, “Overall investment performance in the past year remained positive despite uncertainties arising during the year from U.S. trade tariff policies. Global interest rate cuts, along with continued expansion in AI-related investments, helped support economic growth and equity market gains. For 2026, we expect the global economy and major economies to continue expanding. Monetary policy remains a key factor to monitor, particularly the direction taken by the new Chairman of the U.S. Federal Reserve. Nevertheless, we anticipate further scope for interest rate cuts, which would support fixed income investments and contribute to a continued weakening of the U.S. dollar. We therefore recommend investment in Australian bonds, offering higher yields than US bonds and potential upside from the Australian dollar (AUD). Meanwhile, the Swiss franc (CHF) is expected to remain an effective safe-haven asset during periods of market volatility. We recommend investors diversify beyond the technology sector, which has led the market in recent years, by increasing exposure to defensive sectors such as healthcare, as well as European cyclical stocks, to enhance portfolio stability amid ongoing uncertainty. Emerging markets continue to benefit from the potential for Fed rate cuts, a weakening U.S. dollar, and a recovery in corporate earnings growth. SCB Julius Baer maintains a positive stance on Asian markets overall and views China as one of the strategically attractive markets in 2026.”
“In addition, investments in alternative assets such as private equity and off-market infrastructure and utilities businesses can help diversify risk and reduce portfolio volatility. Gold has also started 2026 on a strong footing, supported by safe-haven demand, continued gold purchases by central banks worldwide, and a downward trend in U.S. interest rates. However, potential short-term volatility may increase, and investors should consider hedging strategies alongside their investments.
SCB Julius Baer believes that amid rising policy and investment risks, the investment strategy for 2026 will no longer be simply ‘buy and hold.’ Instead, it will be a year in which investors must adopt a more proactive, flexible, and sophisticated approach to portfolio management in order to navigate changes in the global economy and financial markets. We remain committed to standing alongside and supporting our valued clients through comprehensive, internationally recognized wealth management solutions that effectively address financial planning, investment, and wealth transfer needs—reflecting our enduring commitment to our promise: ‘Your Legacy. Our Promise.’” Mr. Adrian concluded.
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