Summary

ABSTRACT

The first half of 2021 has been witness to exceptional growth in demand fueled in large part fiscal stimulus and waning Covid-related restrictions. Latest data release indicates the major economies may be at the onset of high-water mark of economic acceleration and the growth will slow down worldwide. Uncertainties of future cash infusions paired with ebb and flow from Covid re-openings are likely to be further headwinds to further short-term demand acceleration.

Over the long-term, we confirm a moderation in the trends for all macro and financial. While short to medium-term concerns over inflation volatility remain, we believe it will mostly remain anchored to policy targets under the watchful eye of the monetary authorities.

 

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Authors

RC - Author - DEFEND Monica
Head of Amundi Investment Institute & Chief Strategist, Member of Amundi’s Executive Committee
Viviana-GISIMUNDO
Head of Quant Solutions, OCIO Solutions
Jung-Hun-KIM-MOON
CFA, Senior Quantitative Analyst, OCIO Solutions
RC - Author - PORTELLI Lorenzo
Head of Cross Asset Strategy, Head of Research at Amundi Italy, Amundi Investment Institute