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Perspectives

The Fed: Making Good on its Goal of Normalizing Rates

 

For the second time this year, the Fed has announced a 0.25% rate increase. FOMC members held firm to their projections for one additional rate increase in 2017, and three hikes in 2018. We believe the Fed is making good on its goal to normalize rates and reduce potential for asset bubbles, as well as its mandates to foster full employment and maintain price stability.

Multi-asset themes

Reflation Trade Under Pressure, but Fundamentals still Supportive


The reflation narrative is still alive even though we are reaching a more mature phase. The Eurozone and Japan are in an earlier stage and should benefit from a more benign fiscal and monetary stance. The outlook for Emerging Markets is also improving, led by India and China. The improving global outlook supports a positive view on equities globally, with DMs and Europe in particular favoured vs EMs. Bonds remain exposed to rising rates and therefore require a flexible approach to manage rates sensitivity and search for opportunities across sectors and maturities.

News

Amundi Group announces the upcoming completion of the acquisition of Pioneer Investments and presents its future organisation
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