2023 Investment Outlook - Some light for investors after the...
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The shift to an inflationary late cycle has been confirmed with greater conviction and a focus on higher inflation (and rates). Economic momentum is still decelerating at a global level but with tentative signs of stabilisation.5 to 10 minutes
A second derivative stagflationary environment of decelerating growth amid sustained inflationary pressures. The fiscal lever continues to play a pivotal role.5 to 10 minutes
Goldilocks continues to allow a tempered risk on positioning. Longer term, growth will likely revert to potential amid a normalised inflation rate (at least in the US).5 to 10 minutes
Contraction > recovery > late cycle: the cycle round trip is confirmed Advanced Investment Phazer: top-down assessment5 to 10 minutes
Find the latest edition of our Research team's monthly publication.> 10 minutes
While in the short term we do expect some temporary relief coming from positive economic surprises and supportive news on the trade front (should coronavirus impact be limited), on a medium-term horizon our economic scenario confirms the fragility of the profit cycle.5 to 10 minutes