Q1 2026 Asset Allocation Viewpoints: Rally on or running out of steam?
After a strong equity market rally fueled by artificial intelligence (AI), investors are asking: Can the momentum carry into 2026, or will it get challenged? And importantly, where are other areas of opportunities beyond AI?
Hear from Sébastien Page, T. Rowe Price’s head of Global Multi-Asset and CIO; moderator Christina Noonan, multi-asset portfolio manager; and our special guest David Giroux, CIO of T. Rowe Price Investment Management, as they share perspectives on where markets may head next.
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Speakers
Christina Noonan is a portfolio manager in the Multi-Asset Division. She is a co-portfolio manager of the Balanced Fund, Global Allocation Fund, Spectrum Allocation Funds, Spectrum Diversified Equity Fund, Spectrum International Fund, Spectrum Income Fund, and Small & Mid-Cap Core Trust. Christina is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Sébastien Page is the co-head of Global Investments and chief investment officer at T. Rowe Price Group, Inc., where he also cochairs the Asset Allocation Committee and serves on the Management Committee.
David Giroux is a portfolio manager for the Capital Appreciation Strategy, including the Capital Appreciation Fund and Capital Appreciation Equity ETF, and co-portfolio manager for the Capital Appreciation and Income Fund and Capital Appreciation Premium Income ETF at T. Rowe Price Investment Management (TRPIM). He also is head of Investment Strategy and chief investment officer for TRPIM. David is a seven-time nominee and three-time winner of Morningstar's Award for Investing Excellence: Outstanding Portfolio Manager – Allocation.1 His fund also has won 23 Best Fund awards2 from Lipper. David is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price Trust Company.