Market Perspectives | Covid paralysis
recedes as political risk rises

Listen to the Podcast by Vincent Chaigneau, Head of Research at Generali Insurance Asset Management S.p.A. Società di gestione del risparmio

Listen to the latest podcast by Vincent Chaigneau, Head of Research, summarizing his views on markets and focusing on 4 main topics: pandemic evolution after summer, the latest accommodative central bank policies, political risks linked to the upcoming US elections and the Brexit deal, and asset allocation recommendations in a context of ongoing economic recovery and Central Banks support.

Vincent Chaigneau
Vincent Chaigneau

Head of Research

Vincent Chaigneau joined Generali Investments in August 2017 as the Head of Research and Head of Group Investment Strategy. In his current role, he is in charge of a unit currently consisting of 25 economists, strategists and credit/equity analysts based in Paris, Cologne, Trieste and Milan. In addition to this, he manages Generali’s Group Insurance Research, a 10-strong team covering insurance and financial service markets around the world and delivering proprietary industry forecasts, market intelligence and megatrend studies.

Vincent joined the Generali Group from Societe Generale Corporate & Investment Banking, where he spent 24 years between Paris, New York and London, last serving as the Co-Head of Fixed Income Research, and Head of Rates & FX Strategy.

A French citizen, Vincent Chaigneau holds a Master’s Degree in International Economics and Finance, and a Poprdraduate Degree in Economics and Finance from the University of Bordeaux.

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G7 finance ministers are expected to signal their support for extending a debt relief programme aimed at helping the poorest countries. SinoVac’s CEO said the company will be ready for worldwide distribution of its coronavirus vaccine by early next year. Moderna says it expect to produce 20 million doses of its experimental vaccine by the end of the year.
China’s August data set came in on the strong side. Even more importantly, the recovery seems to broaden to the demand side which had been lagging behind so far. However, in part the data may look too positive, as a payback effect from previous flooding may be involved. This implies that the outlook still needs confirmation.
Equity markets have rebounded from a historical slump in Q1, with US markets even posting fresh record highs. We acknowledge the risen risks of setbacks amid loftier valuations, elevated political risks (US elections, Brexit and US-China frictions) and Covid uncertainties into autumn.