Whale Research Analysis: Market Outlook 2026 on Liquidity, Expectations, and the New Market Order

For global investors, 2025 was one of the most undercurrent-filled years of the 21st century. Unlike the bursting of the dot-com bubble in 2001 or the global financial crisis in 2008, markets in 2025 did not experience a prolonged, large-scale liquidation cycle or a “storm-like” sequence of relentless crashes.

Yet it is clear that, amid geopolitical uncertainty, uncertainty over US fiscal and monetary policy, uncertainty across multiple countries’ economic fundamentals, and the ebbing of…