Robeco

Investing in equities is almost a national sport in Sweden. Some blame the high taxes for the fact that the horse track and the stock market are among the few places still left to get rich. My first investment was in high school and, unsurprisingly, it was in the Swedish telco equipment and mobile phone maker, Ericsson1 (a tech stock darling at the time). I opened an account with the Swedish Young Shareholders' Association, a cheap way to buy and sell stocks.

De rente op staatsobligaties in belangrijke markten zoals de VS en Frankrijk is opgelopen tot 5,26%,1 het hoogste niveau sinds obligaties in 2022 onder druk kwamen te staan door de sterk oplopende inflatie na de bestedingsgolf die op de coronapandemie volgde, en door de Russische invasie van Oekraïne.

Yields in major sovereign markets such as the US and France have risen as high as 5.26%,1their most generous returns since bonds were spooked by rampant inflation following the post-Covid spending boom in 2022, and Russia’s invasion of Ukraine. With yields that high from AAA-rated government debt, it begs the question of why investors should risk losing capital in stock markets which are seen as being at highs, fueled by an AI boom that may be unsustainable.

The physical side of the digital economy The global economy is entering a more material-intensive phase as the AI boom drives investment into data centers and digital infrastructure. These facilities require vast amounts of copper for power distribution, cabling, circuit boards and networking equipment, along with aluminum and steel for structural and electrical components.

The physical side of the digital economy The global economy is entering a more material-intensive phase as the AI boom drives investment into data centers and digital infrastructure. These facilities require vast amounts of copper for power distribution, cabling, circuit boards and networking equipment, along with aluminum and steel for structural and electrical components.

For investors seeking long-term diversification from an overweight position in the US, Asia-Pacific equities have a compelling investment thesis. The combination of macroeconomic strength, a broad sector mix, and long‑term structural drivers is starting to be recognized, with the region outperforming through 2025 and 2026. Figure 1: The Asia-Pacific opportunity is gaining recognition Past performance is no guarantee of future results. The value of your investments may fluctuate.

06-10-2026 • Visie Investor support for prioritizing climate change is rising again, as concerns around energy security accelerate the renewable energy transition, and as the physical effects of global warming are increasingly felt, the Robeco Global Climate Investing Survey 2026 shows. The sixth annual survey of 300 investors shows they are realistic about climate targets, with most forecasting a ‘too little, too late’ scenario that cannot achieve the Paris goals.

06-10-2026 • Insight Investor support for prioritizing climate change is rising again, as concerns around energy security accelerate the renewable energy transition, and as the physical effects of global warming are increasingly felt, the Robeco Global Climate Investing Survey 2026 shows. The sixth annual survey of 300 investors shows they are realistic about climate targets, with most forecasting a ‘too little, too late’ scenario that cannot achieve the Paris goals.

Forces reshaping fixed income AI is usually discussed as a technology or equity market story. For fixed income investors, however, it is increasingly becoming a supply story. Consensus expectations for hyperscaler capital expenditure in 2027 now exceed USD 1 trillion, while expected bond issuance from the largest technology companies has risen sharply as more of that investment is financed through debt. The funding requirement also extends well beyond the hyperscalers.

01-10-2026 • Quarterly outlook Global equity markets are being sustained by record earnings and strong economic growth in the US and emerging markets, but that must be squared with a parallel world of geopolitical and trade strife.