Market Compass March 2023

En bref

A team of analysts based in Paris, Cologne, Trieste, Milan and Prague runs qualitative and quantitative analysis on macroeconomic and financial issues. The team translates macro and quant views into investment ideas that feed into the investment process.

Highlights:

  • Central banks’ difficult battle against stubborn inflation is getting even harder
  • February dashed hopes that policy makers may quickly tame inflation. We now expect even higher peak rates.
  • The recent rebound in long-term real rates makes Equity valuations even more stretched. Healthier than expected growth in Europe and China’s reopening bounce are only a partial relief.
  • We continue to favour a (trimmed) underweight in Equity and High Yield, while seeing value (mostly in the carry) in IG Credit.

 

Download the full publication below

Market Compass March 2023
Picture

© Generali Investments, tous droits réservés. Ce site internet est publié par Generali Investments et est considéré comme une communication marketing et une promotion financière liée aux produits et services des sociétés du groupe Generali suivantes : Generali Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. et Generali Investments Holding S.p.A. (ci-après dénommées ensemble Generali Investments). En outre, le site peut contenir des communications de marketing et de promotion financière de produits et services de sociétés faisant partie de la plate-forme Multi-Boutiques coordonnée par Generali Asset Management S.p.A. Società di gestione del risparmio, et en particulier de Infranity, Sycomore Asset Management, Aperture Investors LLC, Plenisfer Investments SGR, Lumyna Investments, Sosteneo Infrastructure Partners SGR et Generali Real Estate S.p.A. Società di Gestione del Risparmio.