The webinar provides a detailed overview of market developments as of April 2026, with the following main points:
Market development: Emerging markets (EM) leads with an annual return of 13.47 %, followed by Oslo Børs (19.47 %). The US and Europe have had modest gains of 1.94 % and 4.63 % respectively. The world index in NOK has actually fallen (-3.38 %) due to a stronger Norwegian krone.
Currency and Macro: A weakening of the US dollar (USD) is a central theme, linked to expectations of US policy that wants a weaker currency. The Norwegian krone (NOK) is strengthened especially in light of high oil prices. Inflation is considered to be almost under control, although oil, gas and fertilizer prices create temporary disruptions.
Share pricing and Sectors: There has been a “recalibration” in the market where the price-to-earnings (P/E) multiples for the large tech companies (“Magnificent 7”) have fallen from approx. 40 to 26. There is a clear rotation from growth to value, and the market is considered relatively expensive in the US, but affordable in Asia and emerging markets.
Geopolitics: Ceasefires in the Middle East (USA–Iran and Israel–Lebanon) are mentioned as a factor affecting oil prices and the market fear index (VIX).
Investment strategy: Despite the risk of corrections, the attitude is “moderately optimistic” driven by offensive economic policies in the US and China, good GDP growth and low interest rates. The strategy recommends always having liquidity available to invest extra when the market falls (10 %, 20 %, etc).
Financial advice: A strong point is made of not leaving money on regular bank deposits due to new tax rules that tax interest annually. Instead, liquidity funds are proposed that give a higher return (4–4.5 %) with deferred taxation and very low risk.
In conclusion, we have a warning that all investment involves risk, but encourage you to remain sensibly invested and exploit market fluctuations to your advantage.
