• Investment Outlook for 2017

      The low growth/low inflation scenario that has characterised the last few years is set to give way to a more scattered and economically heterogeneous phase with inflation moving modestly higher, particularly in Developed Markets. In this new dynamic scenario, we believe investors should embrace an active and risk aware mind-set based on 5 major investment themes.
    • A New Round Of Monetary And Fiscal Policy

      The aftermath of the UK referendum has proved to be less painful than we initially thought. However, given the present political uncertainty worldwide, we remain cautious on the global economic outlook, sticking to the idea of low growth, low rates and low inflation for longer.
    • US Economic Outlook Improving

      Our economic outlook is based on a return to growth potential of the global economy, with converging growth rates between developed and emerging countries. Monetary policy is expected to be accommodative, although central banks’ actions will likely not be synchronized. Inflation should also remain contained, with deflation seen as a tail risk event. The current economic environment of low growth, low inflation and loose monetary policies advocates for low volatility and low bond yields. This scenario, coupled with positive expected earnings growth, should be supportive for risky assets.