Standard Chartered has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment.
The report was launched alongside the Bank’s Global Market Outlook events in Accra this week, giving clients access to the Bank’s latest global insights and their relevance to Ghana’s investment landscape.
The Bank expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.
For investors in Ghana, improving domestic macroeconomic conditions, stronger external buffers, easing inflationary pressures and renewed confidence in the local currency are creating a more constructive backdrop.
However, global volatility, energy price movements and changing central bank policy expectations continue to reinforce the need for well-diversified portfolios across geographies, currencies and asset classes.
Against this backdrop, the Bank remains overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.
Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.
Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.
While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.
In Ghana, the outlook is shaped by a more stable macroeconomic environment following a period of elevated inflation, currency volatility and debt restructuring. Stronger fiscal discipline, improved external reserves and supportive export earnings, particularly from gold, are helping to rebuild investor confidence.
At the same time, Ghanaian investors remain exposed to global shifts in energy prices, US dollar strength, interest-rate expectations and emerging-market capital flows, making active portfolio management and diversification increasingly important in the second half of 2026.
Dr. Setor Quashigah, Head of Affluent & Wealth Management at Standard Chartered Bank Ghana PLC, said: “The second half of 2026 presents both opportunity and complexity. While improving domestic conditions are encouraging, global markets remain dynamic and require a disciplined, long-term approach. Our role is to help clients look beyond short-term volatility, diversify thoughtfully across markets and asset classes, and build resilient portfolios that support their financial aspirations today while preserving wealth for generations to come.”
