Sequoia Investment Management outlines 2026-27 economic and market outlook, sees global growth at 3.0% in 2026 and 3.4% in 2027
SPY•2026-27 global and U.S. outlook
Sequoia Investment Management published a 2026-27 outlook projecting global growth of 3.0% in 2026, rising to 3.4% in 2027.
- Headline global inflation is seen at 4.7% in 2026 versus 4.1% in 2025, easing to 3.9% in 2027.
- The U.S. backdrop points to solid GDP, slower consumer spending and balanced labor conditions.
- Core PCE is forecast at 3.1% in 2026, easing to 2.2% in 2027.
- The rates path implies about 34 bps of Fed tightening in 2026, a further 25 bps by mid-2027, then cuts in 3Q27.
- Market risks flagged include a global duration selloff tied to fiscal concerns, energy prices and supply, as well as rising worries over an AI valuation bubble.
