the articles & research center news
CFA, Strategy and Economic Research at Amundi
The global economy enjoyed a strongest upturn in 2017. The upswing was broad and driven by a notable rebound in global trade and an investment recovery in advanced economies. The improvement in the macroeconomic environment has allowed central banks to confirm the gradual reduction (at different speeds) in the accommodative stance of monetary policy.
Valentine AINOUZ, Sergio BERTONCINI, Silvia DI SILVIO
Delphine GEORGES, Viviana GISIMUNDO, Jung Hun KIM MOON
Two events pushed down Eurozone sovereign spreads in 2017: the French presidential election in April & May, which dissipated investors’ fears about Eurosceptic movements, and the announcement on 26 October of a smaller-than-expected reduction in ECB’s QE for 2018 (monthly purchases lowered from € 60 bn to €30bn).
Fixed Income and FX Strategy
Didier BOROWSKI, Andrea BRASILI, Monica DEFEND, Bastien DRUT, Roberta FORTES, Eric MIJOT, Tristan PERRIER, Lorenzo PORTELLI, Silvia DI SILVIO, Ibra WANE
The robust global economic growth experienced in 2017 is expected to continue into 2018, albeit with some notable exceptions such as UK. Such growth is to be reflected in ever higher equity price levels and thus expected to become costlier with respect to the most recent valuations.
Bastien DRUT, Delphine GEORGES, Viviana GISIMUNDO, Jung Hun KIM MOON
CFA, Credit Strategy