Global markets are entering 2026 amid heightened geopolitical uncertainty, structural shifts in the global order, and rapid technological change. Recorded live from the World Economic Forum in Davos, this episode of The Bid examines the macroeconomic and geopolitical forces shaping the year ahead. Host Oscar Pulido is joined by Philipp Hildebrand, Vice Chairman of BlackRock, and Tom Donilon, Vice Chairman of BlackRock and Chairman of the BlackRock Investment Institute. Drawing on conversations with political leaders, policymakers, and business executives in Davos, they reflect on an evolving geopolitical landscape and its implications for markets, governments, and global cooperation. The discussion explores how shifts in U.S. policy are reshaping alliances — particularly between the United States and Europe — and why this period may mark a broader transition away from the post–World War II global framework. Philipp outlines the pressures facing Europe, while Tom examines how national...