Global Investment Outlook: November 2021
Navigating the Post-Pandemic Investment Landscape
As we begin to wrap up the final two months of 2021 and start looking forward to what may come in 2022, asset managers and consultants present their views on how best to navigate the post-pandemic landscape.
This month's selection of outlook content pays particular attention to macroeconomics, with insight into European productivity, the effects of high energy prices on consumption, and 'demand-pull' inflation.
GLOBAL INVESTMENT OUTLOOK
PGIM Fixed Income explores the intertwining effects of trade, competition, openness, and productivity within the European Union. The region is regarded as the most open in the world and its long term prospects are appraised in this context.
This investment roundtable tackles the impact Covid-19 has had on consumers’ spending habits and debt management, as well as other trends they are seeing, and the effect of all of this on specific companies.
For compliance reasons, this paper is not accessible in the United States
This webcast challenges valuations in U.S. markets and makes an argument in favour of quality within small- and mid-caps. It also covers the macro picture and the U.S. economy.
For compliance reasons, this paper is not accessible in the United States
Amundi lays out its current positioning within fixed income and equities against a backdrop of inflation debate and stagflation concerns.
There are concerns for growth in the short term according to BNP Paribas who identify a number of headwinds. They also lay out their mid- and longer-term views, including their preference for equities in favour of government bonds.
Earnings drove a record month for the S&P 500 in October, but concerns remain elsewhere, including continued turbulence in the bond market, contraction in the Chinese economy, and higher energy prices eroding spending power.
领英推荐
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Franklin Templeton puts the focus on the U.S. inflation experience, exploring the drivers of the current high levels and whether these are likely to persist or be temporary. They identify five key variables as bellwethers to monitor.
Equities had a positive October and we now head into what is usually a strong time of year for the stock market, though doubts abound. Fixed income markets continue to grapple with inflationary concerns.
Persistent macro-related demand causes for inflation are outlined, with a suggestion that inflation focus has been too heavy on the micro elements of the supply shock when assessing the future path for inflation and monetary policy.
What happens when wealth grows faster than economic growth, and what stops that phenomenon continuing forever?
The authors discuss a post-pandemic world and what it means for China’s next steps, a potentially divergent future for developing and developed economies, as well as a challenge to the lack of fairness in approaches to climate change.
UPCOMING CONFERENCES
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ABOUT THE AUTHOR
Andrew Perrins is a former Actuary and Asset Allocator. After qualifying as an Actuary, he worked for 15 years in investment management, serving as Director of Asset Allocation for Abbey Life and for Chase Manhattan, before setting out on a more entrepreneurial path.
To contact him,?email?[email protected]