Market Snapshot
Markets take a pre-Christmas breather
Outlook 2026: Private Markets
La view del Managing Director Steve McGoohan Managing Director, Private Markets Quali sviluppi potrebbero verificarsi per i private markets nel 2026? Le asset class “private” sono influenzate dagli stessi fattori macro delle loro controparti quotate, sebbene il metodo e la tempistica di tali impatti possano variare. Digitalizzazione, demografia e deglobalizzazione sono importanti megatrend che continueranno […]
Outlook 2026: Liquidità
La view del CIO Deborah Cunningham, CFA Chief Investment Officer, Global Liquidity Markets, Senior Portfolio Manager, Executive Vice President, Federated Hermes, Inc. Qual è la tua view contrarian per il 2026? Che la Federal Reserve statunitense (Fed) rimanga indipendente. Le incessanti critiche dell’amministrazione Trump al presidente della Fed Jerome Powell hanno portato molti a pensare […]
Outlook 2026: Reddito fisso
La view del CIO Robert Ostrowski Executive Vice President, Chief Investment Officer Quali sono le tue previsioni per il 2026? I mercati obbligazionari entrano nel nuovo anno con molte domande senza risposta. A dire il vero, il 2025 ha dato qualche risposta. Un anno fa, ci aspettavamo una ripetizione del contesto post-elettorale del 2016, con […]
Outlook 2026: Azioni
La view del CIO Stephen Auth, CFA Executive Vice President, Chief Investment Officer, Equities Con il 2026 potrebbe arrivare una nuova era per le azioni? L’aumento della produttività, la ripresa della crescita economica, l’espansione dei margini e i recenti “spiriti animali” – accompagnati da una politica favorevole delle banche centrali – stanno tutti spingendo i […]
Yields look biased downward
Indications are that the US economy continues to expand – despite the short-term headwind of the government shutdown – spurred by consumer spending and strong business investment. Meanwhile, US Treasury yields remain choppy, moving marginally with each day’s shift in Fedspeak and market narratives. As we await resumption of official data releases, however, available signs still point […]
La mania dell’intelligenza artificiale ha raggiunto il picco?
Market snapshot
The pain is not in Spain
It was not so long ago that many sceptics viewed Spain, like much of southern Europe, as a stagnant economy with muted prospects. This year, however, Spain’s IBEX 35 stock market index is up 53%. What’s changed? From 2008 until 2014, Spain was hit hard by the Global Financial Crisis and turmoil in the country’s […]
Weak UK economic outlook bolsters money market flows
The UK macroeconomic backdrop remains fraught and uncertain. The government is grappling with a ‘black hole’ in its finances and further tax rises are expected in the Autumn Budget scheduled for 26 November1. Rising levels of government debt continue to put pressure on borrowing costs – which are at their highest levels since the 1990s […]
A good quarter for rates and spreads as the bond market inches along
The third quarter produced constructive bond market performance with the Bloomberg US Aggregate Bond Index registering a 2.03% total return. The environment was positive for each of the major sub-sectors: US Treasurys, corporates (both investment grade (IG) and high yield (HY) and mortgage-backed securities. In fact, it’s hard to find a sector of the bond market […]
