Amundi Asset Management

2018 Top 400 ranking: 9http://www.amundi.com

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Amundi

Global Investment Views: September 2018

The year began with a synchronised global recovery as most economies benefited from a buoyant environment. The risk of inflation and CB mistakes dominated investors’ fears. 

Since the spring, clouds have accumulated globally. The second half began under less happy auspices than the first, with a less buoyant economic climate and many risk hotspots. On the one hand, growth in the Eurozone was weaker than expected in H1 (after a strong second half of 2017). On the other hand, large EM have seen their macrofinancial situation deteriorate with the USD appreciation, which puts countries where private sector debt is denominated in USD into strong difficulty. For example, Argentina and Turkey are in crisis today. These are idiosyncratic shocks that in theory, should not spread. However, many EM were distrusted by investors during the summer. In addition, Donald Trump’s protectionist threats have multiplied. The proximity of the mid-term elections (6 November) is encouraging him to implement his promises of the presidential campaign on trade. Europe has been relatively spared for the moment, but in view of Donald Trump’s recent statements, one cannot rule out taxation on auto imports. That said, for now, China remains the subject of the most aggressive protectionist measures.

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Head Office
90, boulevard Pasteur
Paris
75015
France
Company website:
http://www.amundi.com
Year Founded:
2010
No. of investment offices worldwide:
6

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  • cross asset investment strategy september 2018

    Cross Asset Investment Strategy: September 2018

    White papersWed, 19 Sep 2018

    Italian budget discussions are going to intensify as the 27th of September approaches, date of publication of the document outlining the new budget law and when there should be more clarity on the key economic projections and deficit targets. 

  • global investment views september 2018

    Global Investment Views: September 2018

    White papersFri, 14 Sep 2018

    The year began with a synchronised global recovery as most economies benefited from a buoyant environment. The risk of inflation and CB mistakes dominated investors’ fears. 

  • 10 years after lehman

    10 years after Lehman: A reality check for the future

    White papersFri, 14 Sep 2018

    It has been 10 years since the collapse of Lehman marked the beginning of the Great Recession, which threw the global economy into its deepest economic crisis since the 1930s. 

  • turkey shakes summer thin markets

    Turkey shakes summer thin markets, but contagion risk is contained

    White papersTue, 14 Aug 2018

    The domestic boom has been financed by private debt (mainly external debt). Well before this week’s crisis, Turkey was the most vulnerable country in our EM ranking

  • where will the next financial crisis come from

    Where will the next financial crisis come from? Are we ready to confront it?

    White papersThu, 2 Aug 2018

    The world is not yet completely out of the 2007- 2008 financial crisis, but the risk of a new crisis already arises. The theme of “regime shift” (volatility, interest rate, inflation, etc.) has resurfaced, which led to a marked correction in financial markets in January – February.

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