Host Ryan Nauman interviews Rob Haworth, Senior Investment Strategy Director at U.S. Bank Wealth Management, on a constructive but disciplined 2026 outlook.<\/p>\n
Haworth cites strong S&P 500 investment and earnings expectations, reasonable valuations versus 10-year averages, and resilient consumer spending supported by a solid labor market. Key risks include hotter inflation driven by elevated energy costs, further Fed rate hikes, and potential spillover into consumer behavior, housing, and rate-sensitive sectors.<\/p>\n
They discuss how consumer sentiment can look weak even as discretionary indicators like travel and dining remain firm, the scale of AI-driven infrastructure and power needs, and the need for clearer ROI evidence over coming quarters.<\/p>\n
Haworth outlines portfolio implications: maintain equity exposure with global diversification, re-evaluate fixed income given higher yields, and consider diversified fixed-income and alternatives such as structured credit, reinsurance, and global infrastructure.<\/p>\n