Vanguard’s Economic and Market Outlook 2027
Jumana Saleheen, Lucas Baynes, Josefina Rodriguez
Join Vanguard’s economic experts for a deep-dive on our outlook for investors in 2026 – and beyond. The team will walk through the macroeconomic picture and how this translates into the return outlook for global markets. We’ll also delve into the influence of AI on GDP, profit margins and ultimately the long-term outlook for investors, including our expectations for interest rates, inflation and growth.
Presenters
Jumana Saleheen
Chief Economist and Head of Investment Strategy Group, Vanguard Europe
Profile
Jumana is chief economist and head of Vanguard Investment Strategy Group, Europe. She leads a team that conducts research on the global economy, with a focus on Europe, global capital markets, and related investment topics.
Jumana Saleheen, Ph.D., is chief economist and head of Vanguard Investment Strategy Group, Europe. She leads a team that conducts research on the global economy, with a focus on Europe, global capital markets, and related investment topics. Her specialty areas include monetary policy, international macroeconomics, ESG (environmental, social, and governance), and macroeconomics forecasting.
Jumana has extensive management and thought leadership experience, having previously served as the chief economist and head of sustainability at CRU, an economics consultancy in London. She also held several senior roles at the Bank of England, including head of division in the Financial Stability Directorate.
Jumana earned a Ph.D. in economics from University College London, and a her B.Sc. and M.Sc. from the London School of Economics.
Lucas Baynes
Senior Investment Strategist, Investment Strategy Group Europe, Vanguard
Profile
Lucas Baynes is a senior investment strategist in Vanguard's Investment Strategy Group, specialising in asset allocation and portfolio construction with research published in the Journal of Portfolio Management and the Journal of Investment Strategies.
He holds a BSc in Accounting and Finance from the University of Bath and is currently studying part-time for an MSc in Finance at the London School of Economics and Political Science.
Moderator
Josefina Rodriguez
Economist, Investment Strategy Group, Vanguard
Profile
Josefina Rodriguez is an Economist in the Vanguard European Economics team. Graduated with a MSc in Economics from the London School of Economics last year, and previously worked as a direct advisor to the Minister of Economics and Finance of Uruguay.
Investment risk information
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Any projections should be regarded as hypothetical in nature and do not reflect or guarantee future results.
Important information
For professional investors only (as defined under the MiFID II Directive) investing for their own account (including management companies (fund of funds) and professional clients investing on behalf of their discretionary clients). In Switzerland for professional investors only. Not to be distributed to the public.
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The information contained herein is for educational purposes only and is not a recommendation or solicitation to buy or sell investments.
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© 2026 Vanguard Investments Switzerland GmbH. All rights reserved.
© 2026 Vanguard Asset Management, Limited. All rights reserved.