Global Investment Views - June 2023
Over the last month, markets lacked a clear direction owing to US banking sector stress, uncertainty regarding the US debt ceiling, and signs of economic deceleration amid tightening of credit conditions.
Tuesday 25 September 2018
Global Investment View
The hot summer in emerging markets (EM) has been a key investor theme in the third quarter of this year. While the ongoing US/China trade tensions continue to weigh on investor sentiment, the sequence of country-specific stories (Turkey, Argentina and South Africa) contributed to the almost indiscriminate repricing of EM assets, starting with plummeting EM currencies. The causes of the collapse seen in the currencies’ values in these countries are different (need to apply for IMF aid for Argentina; balance of payment crisis in Turkey, accelerated by the perceived lack of independence of the central bank; the start of an economic recession in South Africa, with additional concerns regarding the land reform plan).
Over the last month, markets lacked a clear direction owing to US banking sector stress, uncertainty regarding the US debt ceiling, and signs of economic deceleration amid tightening of credit conditions.
CIO views: High conviction ideas from Amundi Global Investment Committee.
"Concerns about trade continue to take centre stage. While US assets have so far been resilient amid escalating protectionist rhetoric, markets targeted by tariffs are under pressure."
Amundi Singapore Limited
Company Registration No.: 198900774E
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