10 Macro Themes for 2026

Guggenheim Investments’ Macroeconomic Research and Market Strategy Team identifies 10 macroeconomic trends we believe are likely to shape monetary policy and investment performance this year.

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Podcast

Macro Markets Podcast Episode 79: 10 Macro Themes Driving Markets in 2026

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1. The U.S. Economy Will Move Toward Equilibrium
2. Domestic Policy Will Focus on Kitchen Table Issues, Supporting Growth
3. Strategic Rivalry Will Keep Global Powers Focused on Security
4. Equity Returns Will Broaden as the Expansion Benefits More Firms
5. The U.S Will Enter a Corporate Re-Leveraging Cycle
6. Infrastructure Investment Will Span Sectors, Increasing Complexity
7. Policy Rates Will Ease Further, as Inflation Finally Cools
8. U.S. 10-Year Yield Will Remain in a Multi-Year Trading Range
9. Innovation Will Bring the Future into Focus 
10. A Broader Opportunity Set Will Favor Active Management

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Investing involves risk, including the possible loss of principal. Investments in fixed-income instruments are subject to the possibility that interest rates could rise, causing their values to decline. High yield and unrated debt securities are at a greater risk of default than investment grade bonds and may be less liquid, which may increase volatility.

There is no guarantee that an active manager's views will produce the desired results or expected returns, which may lead to underperformance. Actively managed investments generally charge higher fees than passive strategies, which could affect performance. In addition, active and frequent trading that can accompany active management, also called "high turnover," may lead to higher brokerage costs and have a negative impact on performance. Further, active and frequent trading may lead to adverse tax consequences.

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