Executive Summary
Q2 2026 Outlook: Entering a “Reality Check Phase” in Global Markets
This report explores how geopolitical tensions and the rapid development of artificial intelligence (AI) are jointly reshaping global asset allocation strategies.
Artificial Intelligence Markets:
Examines the shift of the AI industry from narrative-driven expectations to earnings validation, and assesses potential valuation risks in technology equities driven by high leverage and debt exposure.
Precious Metals Outlook:
Analyzes the impact of Federal Reserve policy direction on gold prices, as well as how continued central bank gold accumulation serves as a key supporting factor for market recovery.
Macroeconomic Environment & Energy:
Evaluates the risk of energy supply shocks and stagflation triggered by geopolitical tensions, and examines the strengthening US dollar amid rising global risk aversion.