In a special edition of Outerblue Convictions, Swaha Pattanaik sits down with Monica Defend, Head of the Amundi Investment Institute, to unpack Amundi’s mid-year investment outlook, The Power of Endurance.Against a backdrop of geopolitical shocks, shifting central bank priorities and the continued strength of AI-related trades, the discussion explores why global growth may remain resilient but uneven, with fragile de-escalation abroad and broadening AI adoption continuing to shape the macro and market landscape.
Monica outlines the outlook for central banks, arguing that inflation risk is now taking centre stage across key markets as we see a more cautious stance from the Fed while the ECB continues its internal debate on its next steps. The episode explores how monetary policy in the different regions may evolve and what this might mean for the fixed income yield curve.
The discussion then turns to the fast-moving Forex market and our expectations for the different major currencies, highlighting the potential medium-term weakness of the US dollar, diversification away from USD-denominated assets and selective opportunities in sterling. Monica also addresses concentration risk in AI and the need to explore the whole AI value chain and industrial beneficiaries.
Concise, timely and highly relevant, this episode on the investment outlook for 2026 offers valuable insight for investors and asset allocators seeking to build more resilient portfolios. Tune in for expert perspectives on resilience, diversification, selectivity and the themes likely to shape the rest of 2026.
You can now listen to the full podcast at the link below
