The big shock, the big hope, the big illusions

Amundi
By January 8, 2021 15:12

The big shock, the big hope, the big illusions

2020 has been an unprecedented year in modern history, with the Covid-19 pandemic leading to the deepest global recession post World War II that has affected the most countries simultaneously since the 1870s (World Bank). This big shock is not going to reverse completely, and the old normal will not return as it used to be. Hopes for a fast vaccine distribution, a further fiscal push, and for decreasing geopolitical tensions are all driving the reflation narrative. As a result, despite the recession, most markets are closing the year with positive performances. Entering 2021, the reflation phase may continue, but investors will have to assess four factors to play the rotation, avoid bubbles, and build resilient portfolios.

Amundi
By January 8, 2021 15:12

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Our expert #Norman_Villamin explains why he prefers mining stocks over bank stocks for betting on a cyclical recovery. Find out more in his interview with @RohnerFuW from @FuW_News.

US data was better than expected last week with a pick-up in manufacturing (see #ChartoftheWeek), services and housing, plus further easing on the jobless claims front. A good start for the 46th president of the US. Read more in our Fixed Income roundup: https://bit.ly/3iV8xCr

"With #vaccines to combat the #global pandemic being rolled
out beginning in late-December, Israel and the United
Arab Emirates (UAE) have led ..." -> https://www.opiniopro.com/2021/01/ubp/vaccines-israel-and-the-uae-show-the-way-forward/ by @UBP_Group

Vaccine rollouts are likely to take longer than expected, says UBP's expert @carcasall. Watch his interview on @BloombergTV to find out what this means for the economic recovery. http://bit.ly/210126-casanova

Which societal changes may become the new normal post-COVID? And how might you position your portfolios for the future? Join us 1/28 for a webinar discussion. CE Credit is available for #CFP and #CIMA designations. https://bit.ly/2YeYHC0

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