All Inflation articles
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White papersMapping the fallout: Iran, oil, and global markets
Macro impact: The Iran conflict and risks to the Strait of Hormuz do not yet warrant a major change to our base case macro outlook. Growth adjustments remain limited, inflation has nudged higher, and central banks are broadly in a wait-and-see mode, with policy rates expected to remain largely stable.
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White papersMarket Commentary: Looking across the valley
If the Iran war does not derail it, the US economy should remain strong.
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White papersFebruary CPI report: Calm before the storm
U.S. inflation showed signs of stabilization in the February CPI report, though persistent service and energy pressures suggest that renewed inflation risks could delay the pace of monetary easing.
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WebinarPlayback | Implications of US-Israel strikes on Iran
During this webinar, our experts Vincent Mortier, Group Chief Investment Officer, Monica Defend, Head of Amundi Investment Institute & Chief Strategist, and Didier Borowski, Head of Macro Policy Research explored potential scenarios, assessed the outlook for energy markets and inflation, and examined the regional and cross-asset implications for investors.
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White papersThe Trump administration’s affordability plan
The Trump administration’s affordability plan aims to address housing cost pressures through supply-focused policies, though its effectiveness will depend on implementation and broader market conditions.
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White papersEMEA Investment grade examined 2026 – The importance of portfolio construction
While credit markets proved to be relatively resilient in the face of multiple geopolitical events, there is no guarantee that this will always be the case. So, how do we see credit markets against such a backdrop?
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White papersThe K-Shaped Economy Weighs on the U.S. Consumer
Consumer spending makes up over two-thirds of U.S. GDP. We expect 2026 consumption to be stable and contribute to solid GDP growth but remain concerned about higher inequality and the growing share of spending coming from high-income consumers.
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White papersAI world of opportunities
Highlights how AI is reshaping global markets, creating investment opportunities across multiple sectors.
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White papersThe Ultimate ‘GPT’: Is AI Game-Changing for the Macro Picture?
We anticipate moderate impacts in the near term, but will look for more profound shifts—albeit with some delay—as the years unfold.
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White papersMacro brief: Five questions on the European Central Bank – will it really hike interest rates in 2026?
Given her view that inflation risks in the euro area are higher than expected, economist Beth Beckett suspects it will not be long before the European Central Bank adopts a hawkish bias and she has pencilled in a rate hike in late 2026.
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White papers2026 inflation outlook: Navigating uncertainty
The year ahead looks set for a more balanced, although not necessarily benign, inflationary backdrop, even as the full impact of the US trade tariffs has yet to materialise in prices. For investors returns are more likely to come from income carry and specific exposure to inflation risk.
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White papersFederal Reserve Chair Nomination: Kevin Warsh
Looks at what a potential Kevin Warsh nomination could mean for Fed policy direction and market expectations.
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VideoTalking Markets – Premier Miton (Ireland) Global Dynamic Credit Fund
What will steer bond markets in the months ahead? Lloyd Harris, Fund Manager of the Premier Miton (Ireland) Global Dynamic Credit Fund, shares why he believes the US is poised to stimulate both the economy and markets, and what this could mean for interest rates, credit spreads and bond valuations. He also considers the geopolitical risks currently sitting in the background, how these could feed through into higher commodity prices, and why that matters for inflation and bond investors.
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White papersSpillovers of the “K-shape” consumer to securitized debt markets
Explores how uneven consumer spending is affecting performance across securitized credit segments.
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White papers
Global Investment Views - February 2026
The year began eventfully, with the US using its military strength and economic leverage to achieve President Trump’s foreign policy goals. The Fed receiving subpoenas and military action in Venezuela did not move oil prices and risk assets. But his threats to the sovereignty of a NATO ally sparked temporary volatility, with markets eventually recovering from that scare and US lagging the other regions. Fiscal profligacy and inflation concerns in Japan pushed bond yields up.
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PodcastHow the AI Debt Supercycle Is Reshaping Credit Markets
AI-related bond issuance is surging, reshaping the opportunity set for fixed-income investors. In addition to robust U.S. growth, constrained inflation, and an attractive opportunities beyond the U.S., investors must also navigate greater tail risks, more complex financing structures, and rising political uncertainty around AI and energy use.
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White papersGeopolitical swings in the spotlight in Davos
The global equilibrium is evolving, particularly amid significant geopolitical shifts that are causing increased volatility in financial markets. President Trump’s threat to impose additional tariffs on eight NATO members — unless the United States were allowed to purchase Greenland from Denmark (a threat that was withdrawn a few days later) — initially caused a short market sell‑off, followed by a relief rally last week. Meanwhile, the European Parliament voted to suspend ratification of the EU‑US trade deal, which would otherwise have come into force on 7 February. This does not mean the deal is dead, but that Europe is adopting a ‘wait‑and‑see’ approach.
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White papersCould biodiversity become the next inflation hedge?
Real assets have moved back to the centre of institutional portfolios. After a decade in which financial holdings dominated asset allocation, investors are once again prioritising funds with physical underpinnings, long duration and the capacity to preserve real value through volatile market conditions.
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VideoGiven the uncertainty over inflation, protection matters
The economic outlook for 2026 appears to be in equilibrium. Inflation is close to the targets set by the main central banks, monetary policy normalising gradually, and economic growth supportive. But appearances can deceive. There is potential for higher inflation, particularly in the services sector.
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White papersFixed Income Investment Outlook: 1Q 2026
After a generally stellar year for fixed income, 2026 looks more demanding, with fewer rate tailwinds and tight spreads putting a premium on security selection and global diversification, particularly as tail risk rises.
