Royal London Asset Management's cross-asset 2026 outlook brings together views from investment heads covering equities, fixed income, multi-asset, ABS, property, and responsible investment, set against a backdrop of sticky inflation, unpredictable US trade policy, elevated government deficits, and AI-driven disruption. The overarching message is one of cautious resilience: markets have pushed to new highs but structural uncertainties remain, requiring diversification and selective positioning across asset classes.