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UBS

May 25, 2026

Global Forecasts

Weekly UpdateMacro Economic IndicatorsRates Govt BondsEquitiesOther

UBS's weekly Global Forecasts report provides a detailed outlook on growth, inflation, interest rates, and asset classes through June 2027.

Key Takeaways

  • 1.Central banks are projected to enter a loosening cycle, with the Fed target rate expected to drop to 3.13% by June 2027.
  • 2.Gold prices are forecasted to rally significantly, reaching $5,500/oz by December 2026 and remaining at that level through mid-2027.
  • 3.The S&P 500 is projected to reach 7,900 by year-end 2026 and 8,200 by June 2027.

Table of Contents

  • Economic growth & inflation
  • Target rates overview
  • Interest rates
  • Credit spreads
  • Major currencies
  • Emerging market currencies
  • Commodities
  • Equity Markets
  • Real estate markets

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Authors

Daniel KaltYifan Hu

Securities

S&P 500SX5EBrent Crude Oil

Themes

Global Monetary EasingEquity Earnings Resilience

Regions

GlobalNorth AmericaEuropeUnited StatesChinaGermany