Summary
Topic of the Month
A window of opportunity for European equities
- After a strong 5-month rally, global equity markets, driven by the mega caps, are implicitly factoring in a strong rebound in the economy and profits.
- A breather and/or a broadening of the participants in this rally make sense, opening a window of opportunity for lagging cyclical and value stocks.
- European markets could participate, with small caps also joining in eventually. Their profits have started to outperform, unlike their share prices, making them more attractive.
A window of opportunity for European equities
Macroeconomics, Geopolitics, and Strategy
- Macroeconomic focus: Bank of Japan: back to conventional
- Emerging markets: China & India
- Macroeconomic snapshot
- Central banks watch: DM Central Banks prudently approaching pivot; EM peers adapting to fickle conditions
- Geopolitics: What a Trump presidency means for NATO
- Policy: The EU defence has the wind in its sails
- Scenarios and risks
- Amundi Investment Institute models: Advanced Investment Phazer: Amundi Investment Institute quarterly update
- Equities in charts
- Bonds in charts
- Commodities
- Currencies
Macroeconomics, Geopolitics, and Strategy...
Global Investment Views
The late-cycle environment continues to play out
A resilient US economy (owing to consumption and wealth effects) and strong earnings expectations for the year are driving the recent upside in equities and increase in yields. Now, the big questions are whether this can continue given the already strong market movements, and whether these earnings expectations are credible?
Global Investment Views - April 2024
Macroeconomic and financial market forecasts
April 2024
Macroeconomic and financial market forecasts...
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