On January 26, Mark Dowding, BlueBay Chief Investment Officer, discussed the latest macro views. Key Points: Goldilocks conditions in the US economy, but Trump behaviour continues to cause concern. Greenland shocks policy makers but could prove beneficial to European solidarity. The UK continues to struggle with sluggish economic growth, but challenge to Starmer not expected until after May local elections. Takaichi calls snap election amid dislocation at the long end of the Japanese bond market. AI investment risks may become more apparent during the second half of 2026.