03/09/2026
After a strong run for global equities, Goldman Sachs says investors should prepare for more moderate gains over the next 12 months.
The bank expects mid- to high-single-digit returns, provided economic growth remains resilient.
Several risks could limit further upside:
• Global bond yields are climbing to multi-year highs
• Oil prices have surged above $90 amid geopolitical tensions
• Higher energy costs could keep inflation elevated
• Higher yields could increase pressure on stocks
With the S&P 500 already up around 12% in 2026, Goldman believes gains could continue — but at a much slower pace.
Source: Yahoo Finance