Goldman Sachs projects a solid global equity returns in 2026 driven by the growth of global corporate earnings. Peter Oppenheimer, the firm’s chief strategist, presented this report detailing the financial expectations for the next twelve months in the markets.
Furthermore, the technical report establishes ambitious targets for the main stock indices of the most influential regions on the planet. The S&P 500 is estimated to reach 7,600 points, which would represent an eleven percent total annual return. On the other hand, analysts predict that the Japanese TOPIX index will rise 4%, while the Asian market could climb twelve percent.
Likewise, this positive scenario is based on a generalized economic expansion with a global gross domestic product growth of 2.8%. Experts suggest that the United States Federal Reserve will maintain a moderate easing policy throughout this entire period. Thus, the stock market is currently in an optimism phase supported by historically high valuations.
New decoupling dynamics between digital assets and traditional banking
On the other hand, the correlation between Bitcoin and traditional markets has begun to show an unprecedented structural weakening in the industry. CryptoQuant data reveals that the connection with the S&P 500 index recently turned negative, reaching a level of minus zero point zero two points. This suggests that investors are treating digital assets as a totally independent asset class from equity risk.
Nonetheless, this change in behavior responds to the arrival of spot ETFs, which attract capital focused on long-term accumulation. Therefore, the reduction of leverage in derivatives markets has allowed the price to depend more on internal supply. Macroeconomic liquidity seems to be rotating toward precious metals and cryptocurrencies instead of only following stocks.
Can Bitcoin definitively break away from the behavior of traditional financial markets?
However, the technology sector linked to artificial intelligence remains a fundamental engine that prevents a possible recession in the short term. Although valuations are high, Goldman Sachs strategists rule out the existence of a financial bubble in this sector. Since growth is based on real profits, the stock market offers a firm floor for risk appetite.
It is also important to consider that if equities continue their ascent, digital currencies could benefit from a generalized bullish sentiment. Despite the current decorrelation, global capital flow usually seeks high returns in low volatility environments. Therefore, the future of financial assets will depend on the ability to generate constant corporate profits.
