The first half of 2021 has been witness to exceptional growth in demand fueled in large part fiscal stimulus and waning Covid-related restrictions.

With vaccination programs worldwide well underway, the spotlight has shifted now to the nature of the economic recovery.

Medium to long-term scenarios and return forecasts

Since our last update, monetary authorities have taken the task of maintaining the ultra-low rates in the near future and have reinforced it by projecting...

All signs indicate we have passed the inflection point of the Covid-19 pandemic crisis, even if this signals a clearer picture moving forward, different...

In our latest analysis released at the beginning of the year, we had laid out our medium-term outlook as a correction of the business cycle, including...