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Global Investment Views - August 2019
Friday 26 July 2019
Research / Market
Testing new records
Financial markets have been enjoying a record-breaking run of late. The tide that lifted all boats was the new wave of ultra accommodative monetary policy, at this stage announced but not yet delivered. The conviction that central banks (CBs) will step in again to avoid an excessive deterioration of the economic outlook, in the absence of any material sign of inflation, was the main driver of the recent rally. The overall narrative in the market is that the glass is half full. The economic cycle will be extended by CBs, interest rates will remain lower for longer and risk assets will remain well supported: credit and EM by the hunt for yield, and equities by the repositioning of investors that are late joining the party. This is all taking place against a backdrop where overall, valuations are less compelling than they were at the beginning of the year, although are not too stretched. All good then?
CIO views: High conviction ideas from Amundi Global Investment Committee.
Other news
Global Investment Views - December 2022
Markets have seen some relief in a year that overall is likely to be remembered as among the most challenging for investors.
ESG Thema #10 - There is no place like Earth: How investors can address biodiversity loss
Biodiversity, or the term used to describe all living organisms and ecosystems of which they are part, is declining at an alarming rate with now 1 million (out of an estimated 8 million) plant and animal species being threatened with extinction.
Hawkish surprise from the ECB
At its December meeting, the ECB hiked rates by 50bp, to 2.0% (deposit rate). The Bank delivered a very hawkish statement.