Markets: Developed rates down in the wake of new political scandals in the US and Brazil. Deep dive by the Brazilian real Profit-taking finally took place on the credit markets. Equity : Political risk changesRead more
Weekly 19th May 2017
Asset allocation: Our convictions
This section develops our central scenario and our main convictions. It highlights the main orientations of our asset allocation and presents the strategies that characterize the structure of our portfolios: bond portfolios, equity portfolios and diversified portfolios.Read more
French presidential elections: perspectives and stakes
The purpose of this article is to present the state of affairs on the polls, the priorities of the French and to recall the program of the two candidates as well as the major issues: to obtain a parliamentary majority for E. Macron, to obtain a parliamentary majority and to clarify her position on Europe for Marine Le Pen.Read more
What is the outlook for eurozone sovereign spreads?
The Eurozone sovereign spreads have fluctuated depending on electoral and political events over the last six months. However, the evolution of the ECB's QE's will also play a crucial role. it is very likely that we will enter an era of higher Eurozone sovereign spreads.Read more
Alternative Risk Premia: What Do We Know?
Alternative Risk premia are essential to understand the concept of diversification and renew traditional asset allocation.
As smart beta and factor investing have dramatically changed equity investing, alternative risk premia will highly impact the landscape of strategic asset allocation, multi-asset management and alternative investment.Read more
Does the mounting corporate debt in China signal a future crisis?
The slowdown in China's growth has been limited, but the country's ballooning corporate debt has begun to worry large organisations like the IMF, OECD and BIS. So how, exactly, do things stands? Should we fear a financial crisis ?Read more
Is the China-led upturn cycle peaking out?
The current China-led cycle will continue, for the following reasons: 1. The current recovery is widespread and has momentum; 2. Liquidity will continue to support capex expansion; 3. The Chinese property sector will continue to surprise to the upside; 4. Real interest rates remain negative, which will lead to upward earnings revisions and further NPL reduction.Read more
In the United States, the equity/bond ratio is at its highest since 2000: what does this imply?
The fundamentals suggest that this trend will continue and equity valuations in comparison with fixed income are still compatible with this idea. The risk/reward ratio could deteriorate in the second half of the year. But at present, diversifying into non-US equities is the best option, especially with eurozone stocks.Read more
The lead of the Tories over the Labour has shrunk
Factor Investing: The Rocky Road from Long-Only to Long-Short
Weekly 19th May 2017
The markets bounce from one presidential news item to the next
French Presidential elections: Perspectives and stakes
The Brazilian Real suffers sharp devaluation
French Presidential Election - Reforms: acceleration after already significant efforts in 2015-2016?
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Strategy and Economic Research at Amundi
CFA, Strategy and Economic Research at Amundi