In the premiere episode of the Janela de Mercado program, NeoFeed invited Bruno Henriques, head of analysis at BTG Pactual, to analyze how investments are expected to perform in 2026 and which stocks have the potential for appreciation in the coming year.
With the prospect of slowing inflation and the start of an interest rate cut cycle on the horizon, he believes that investors should gradually reduce their dependence on fixed income and return to taking on more risk in the Brazilian market.
According to Henriques, inflation should end this year at around 4.2% and converge to near 4% in 2026, opening up space for a downward-moving Selic rate, which could reach 12% by the end of 2026.
This backdrop, coupled with a more favorable global environment for emerging markets, tends to put equities and real estate funds back at the center of allocation strategies, even with the fiscal challenge and electoral uncertainties on the horizon.
According to the expert, Brazil remains relatively well-positioned among emerging markets, especially as it is closer to a cycle of monetary easing, which could act as a catalyst for the flow of local and foreign capital.
From a microeconomic perspective, Henriques highlights the resilience of companies, which managed to deliver healthy results even with high interest rates, and points to opportunities in sectors more closely linked to the domestic economy and sensitive to falling rates.
Check out the video above to see the five stocks chosen by BTG's head of analysis to have in your portfolio in 2026.
