{"id":45498,"date":"2026-01-16T10:33:49","date_gmt":"2026-01-16T09:33:49","guid":{"rendered":"https:\/\/telomere.ch\/?p=45498"},"modified":"2026-02-12T12:27:23","modified_gmt":"2026-02-12T11:27:23","slug":"market-update-january-2026","status":"publish","type":"post","link":"https:\/\/telomere.ch\/en\/market-update-january-2026\/","title":{"rendered":"Market Update &#8211; January 2026"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; custom_margin=&#8221;||-9px|||&#8221; custom_padding=&#8221;8px||2px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;3px||3px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;https:\/\/telomere.ch\/wp-content\/uploads\/2026\/01\/Market_Update_JAN_ANG_1600_1000.jpg&#8221; title_text=&#8221;Market_Update_JAN_ANG_1600_1000&#8243; url=&#8221;@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9hdHRhY2htZW50Iiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjQ1NTQ1In19@&#8221; url_new_window=&#8221;on&#8221; _builder_version=&#8221;4.27.5&#8243; _dynamic_attributes=&#8221;url&#8221; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.27.2&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; min_height=&#8221;502.2px&#8221; custom_margin=&#8221;-4px|auto|-4px|auto|true|false&#8221; custom_margin_tablet=&#8221;-4px|auto|-4px|auto|true|false&#8221; custom_margin_phone=&#8221;-4px|auto|-4px|auto|true|false&#8221; custom_margin_last_edited=&#8221;on|desktop&#8221; custom_padding=&#8221;5px|0px|7px|0px|false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; text_font=&#8221;Roboto|300|||||||&#8221; text_text_color=&#8221;#6F757D&#8221; text_font_size=&#8221;59px&#8221; text_line_height=&#8221;1em&#8221; header_font=&#8221;|700|||||||&#8221; header_font_size=&#8221;58px&#8221; header_line_height=&#8221;1.1em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; min_height=&#8221;48px&#8221; custom_margin=&#8221;-4px||2px||false|false&#8221; custom_padding=&#8221;20px||15px|||&#8221; text_font_size_tablet=&#8221;45px&#8221; text_font_size_phone=&#8221;35px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_font_size_tablet=&#8221;57px&#8221; header_font_size_phone=&#8221;36px&#8221; header_font_size_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Editorial<\/p>\n<p>[\/et_pb_text][et_pb_text content_last_edited=&#8221;off|desktop&#8221; _builder_version=&#8221;4.27.5&#8243; text_font=&#8221;|300|||||||&#8221; text_text_color=&#8221;#6F757D&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.4em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; text_orientation=&#8221;justified&#8221; min_height=&#8221;377.2px&#8221; custom_margin=&#8221;||16px|||&#8221; custom_padding=&#8221;||0px|||&#8221; text_orientation_tablet=&#8221;justified&#8221; text_orientation_phone=&#8221;left&#8221; text_orientation_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>We just wrapped up one of the most resilient years in recent memory. Global equities hit record highs, risk assets rallied broadly, and the economy proved to be much more resilient than many anticipated. However, as we head into 2026, the picture is becoming more nuanced.  <\/p>\n<p>The positive news is that the tailwinds that drove 2025 aren&#8217;t disappearing overnight. AI investment continues to influence corporate capital allocation, fiscal support remains steady, and inflation fears have decreased significantly. <\/p>\n<p>However, the \u201ceverything rally\u201d narrative is masking some uncomfortable truths that will increasingly demand our attention. The U.S. fiscal deficit is ballooning, Europe is caught in political paralysis, and central banks worldwide are cutting rates into what looks like a debt spiral. Meanwhile, the rise in the price of gold and other real assets suggests that sophisticated investors are hedging against currency debasement.  <\/p>\n<p>We wish you a pleasant and insightful read.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_3,1_3,1_3&#8243; _builder_version=&#8221;4.27.2&#8243; _module_preset=&#8221;default&#8221; transform_scale_tablet=&#8221;&#8221; transform_scale_phone=&#8221;&#8221; transform_scale_last_edited=&#8221;on|phone&#8221; transform_translate_tablet=&#8221;&#8221; transform_translate_phone=&#8221;-71px|0px&#8221; transform_translate_last_edited=&#8221;on|desktop&#8221; transform_rotate_tablet=&#8221;&#8221; transform_rotate_phone=&#8221;&#8221; transform_rotate_last_edited=&#8221;on|phone&#8221; transform_skew_tablet=&#8221;&#8221; transform_skew_phone=&#8221;&#8221; transform_skew_last_edited=&#8221;on|phone&#8221; transform_origin_tablet=&#8221;&#8221; transform_origin_phone=&#8221;&#8221; transform_origin_last_edited=&#8221;on|phone&#8221; 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width=&#8221;99.4%&#8221; max_width=&#8221;100%&#8221; module_alignment=&#8221;right&#8221; min_height=&#8221;21px&#8221; custom_margin=&#8221;|0px|0px|0px|false|false&#8221; custom_margin_tablet=&#8221;-15px||0px|0px|false|false&#8221; custom_margin_phone=&#8221;|||0px|false|false&#8221; custom_margin_last_edited=&#8221;on|tablet&#8221; custom_padding=&#8221;0px|0px|0px|0px|false|false&#8221; custom_padding_tablet=&#8221;|0px|0px|0px|false|false&#8221; custom_padding_phone=&#8221;|0px|0px|0px|false|false&#8221; custom_padding_last_edited=&#8221;on|phone&#8221; transform_styles_tablet=&#8221;&#8221; transform_styles_phone=&#8221;&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h4 style=\"font-weight: 400;\"><strong>J\u00e9r\u00f4me Tobler, CIIA<\/strong><strong><\/strong><\/h4>\n<p style=\"font-weight: 400;\">Partner Senior Financial Advisor<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We have just completed one of the most resilient years in decades. Global equities hit record highs, risky assets rose sharply and the economy proved far more resilient than many had anticipated.<\/p>\n","protected":false},"author":3,"featured_media":45530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[45],"tags":[],"class_list":["post-45498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketupdate-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market Update - January 2026 - Telomere Capital<\/title>\n<meta name=\"description\" content=\"We have just completed one of the most resilient years in decades.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/telomere.ch\/en\/market-update-january-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Update - January 2026 - Telomere Capital\" \/>\n<meta property=\"og:description\" content=\"We have just completed one of the most resilient years in decades.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/telomere.ch\/en\/market-update-january-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"Telomere Capital\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-16T09:33:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-12T11:27:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/telomere.ch\/wp-content\/uploads\/2026\/01\/Market_Update_JAN_ANG_980_654.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"980\" \/>\n\t<meta property=\"og:image:height\" content=\"654\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"nilton.ortega@telomere.ch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"nilton.ortega@telomere.ch\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/telomere.ch\/en\/market-update-january-2026\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/telomere.ch\/en\/market-update-january-2026\/\"},\"author\":{\"name\":\"nilton.ortega@telomere.ch\",\"@id\":\"https:\/\/telomere.ch\/en\/#\/schema\/person\/0610fcdce5c8cb509527ede1769d181f\"},\"headline\":\"Market Update &#8211; 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