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Friday 26 July 2019
Global Investment View, News
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 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? READ MORE
Moving towards 2020, volatility, agility and liquidity are the keywords for multi-asset investors: Accommodative central banks, economic slowdown and geopolitical hotspots will continue to move the market, offering opportunities.
The Democratic Party has announced the opening of an impeachment inquiry against President Donald Trump following revelations that he pushed Ukrainian President Volodymyr Zelenskiy to investigate the son of Democratic opponent Joe Biden. The impeachment process is long and articulated.
Over the past years, the global investor community continued to integrate risks related to climate change into investment decision making. Such a level of mobilization has yet to materialize for the consideration of social risk.