Walking the talk, for now

In breve

Global risk assets are still fighting a triple blow from the Ukraine war, central banks’ rushed tightening and Chinese lockdowns. US equities saw their longest series of weekly declines since 2001 through mid-May, before rebounding on Chinese stimulus hopes and robust US consumption data towards the end of the month.

Highlights:

  • Left far behind the curve by surging prices, major central banks are playing catch-up. This reins in inflation worries, but fuels growth concerns.
  • A recession is not (yet) around the corner. But worries about weaker economic and earnings growth keep risky assets on the defensive.
  • Central banks for now will walk their hawkish talk. But the upside for yields is limited from here, as self- correcting mechanisms (risks to growth and financial stability) are kicking in.
  • The Fed should turn less hawkish by late summer, which may then revive the appetite for risk.
     

Download the full report

Market Perspectives I Walking the talk, for now
Picture

© Generali Investments, tutti i diritti riservati. Questo sito web è fornito da Generali Investments ed è considerato come una comunicazione di marketing e una promozione finanziaria riferita ai prodotti e servizi delle società elencate di seguito, appartenenti al Gruppo Generali: Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. e Generali Investments Holding S.p.A. (nel prosieguo, congiuntamente indicate come Generali Investments). Inoltre, il sito può contenere comunicazioni di marketing e promozioni finanziarie di prodotti e servizi di società appartenenti alla piattaforma coordinata da Generali Investments Partners S.p.A. Società di gestione del risparmio, nello specifico di Generali Global Infrastructure, Sycomore Asset Management, Aperture Investors LLC., Plenisfer Investments SGR, Lumyna Investments e Generali Real Estate S.p.A. Società di Gestione del Risparmio