December 4, 2020

Market Compass December 2021

Share on facebook
Share on twitter
Share on linkedin
Share on email

In Short

Edited by the Macro & Market Research Team. The team of 13 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.
Market Compass December 2021
Share on facebook
Share on twitter
Share on linkedin
Share on email

Highlights

  • The strong risk rally may appear reckless amid resurgent Covid-19 cases, persistent risks of a hard Brexit and a (likely) split new US government taking office in January.
  • Yet markets are right in pricing recent vaccine news as a game-changer for the pandemic while central banks remain committed to extended stimulus.
  • We thus slightly extend our pro-risk tilt, favouring Credit and (more prudently) Equities.
  • A weakening US dollar favours exposure to Emerging Markets (EMs). Cash and Core Government Bonds remain unattractive.
Market Compass December 2020
December 17th, 2020

Also interesting

Traffic-highway-Business-district-Jakarta-Emerging
00:11:38
April 19, 2021
Fixed Income

The Spotlight ǀ Equity-like returns with bond-like volatility investing in 75+ emerging economies

China-flag-with-indicators-and-chart
April 16, 2021
Market Commentary

China’s Q1 GDP growth: Strong year-on-year growth amid weak momentum

size 3
April 15, 2021
Market Commentary

COVID-19 UPDATE Facts & Figures