Economic and market outlook
Gain expert perspective on the potential risks and opportunities ahead in the latest economic outlook published by our global Chief Investment Office (CIO).
Our latest reports
U.S. CPI: Taking a detour
Stronger-than-expected U.S. inflation figures will reinforce the Fed's cautious approach to a potential interest-rate cut in the near future.
Feb. 13, 2024
Nonfarm payrolls: Kicking the cut down the road
The U.S. jobs report for January showed the labour market on a stronger footing than forecast. That could mean that the Federal Reserve will hold off on interest-rate cuts for longer than had recently been expected.
Feb. 02, 2024
India: Interim budget targets strong fiscal improvement
A budget focused on strong fiscal consolidation unsurprisingly gave support to fixed income markets.
Feb. 01, 2024
BoE on hold as it’s "not there yet"
The Bank of England left interest rates unchanged as expected, but it also softened its language, dropping a warning about the potential for further policy tightening should inflationary pressures re-emerge.
Feb. 01, 2024
U.S. FOMC: Looking for confidence
The Federal Reserve left interest rates unchanged and signalled that it is yet to be fully convinced that a rate cut is imminent.
Jan. 30, 2024
China: stimulus provides temporary boost; more expected
We believe a recovery in Chinese equities is likely in the second half of 2024 as recent stimulus measures gradually take effect.
Jan. 29, 2024
ECB waiting on data
As unanimously expected in advance, the European Central Bank (ECB) left key interest rates unchanged at its meeting today.
Jan. 25, 2024
Annual Outlook 2024 | ESG: We‘re in this together
ESG investment has gone mainstream, with performance implications. Energy transition may point the way to investing in the sustainable economy.
Jan. 24, 2024
Japan: dovish BoJ positive for equities
As the BoJ remains dovish, we believe the strong momentum in Japanese equities could continue in the near term.
Jan. 23, 2024
Annual Outlook 2024 | Bonds: Real rates matter
After years of extremely low interest rates, the investment universe is now complete again thanks to the renewed attractiveness of bonds as an asset class – and is likely to remain so for the foreseeable future in our opinion.
Jan. 18, 2024
China: Q4 GDP weak amidst deflation
Chinese stock markets fell to multi-year lows after the country’s gross domestic product for the fourth quarter came in below expectations.
Jan. 17, 2024
U.S. CPI: "Beware the cuts of March"
Higher-than-expected inflation figures for December will reinforce the Federal Reserve's view that a cautious approach to cutting interest rates will be required in the coming months.
Jan. 11, 2024
Annual Outlook 2024 | Sectors: banking on tech
U.S. growth stocks are probably still the way to go for the long term. European and Japanese financials could appeal too, as well as consumer discretionary, industrials and energy.
Jan. 11, 2024
Annual Outlook 2024 | Risks: de-risking risks
Be aware that measures to create stability may just create new risks. Rates are still on our radar.
Jan. 09, 2024
Nonfarm payrolls: hot and cold
Official U.S. jobs figures came in stronger than forecast for December, leading to lower expectations that the Federal Reserve would start bringing interest rates back down in the next few months.
Jan. 04, 2024