MARKET RESEARCH HUB

MACRO & MARKET RESEARCH

Find here all the latest publications from our expert Macro & Market Research team:

THE MACRO & MARKET RESEARCH TEAM

A team of 13 analysts based in Paris, Cologne, Trieste, Milan and Prague runs qualitative and quantitative analysis on macroeconomic and financial markets.

The team translates macro and quant views into investment ideas that feed into the investment process.

Market Perspectives and Investment View

COVID PARALYSIS RECEDES AS POLITICAL RISK RISES
After a buoyant August for risk assets, the rally is likely to flatten out. Rising new infections into the autumn, a leveling recovery pace and diverse political risks (US politics, Brexit, geopolitics) will keep a lid on risk sentiment.
GLOBAL VIEW – ENJOY SUMMER WHILE IT LASTS
As lockdowns have been lifted and global activity rebounded from the Q2 nadir, hopes of a strong recovery have helped risk assets advance further over July.
INVESTMENT VIEW Q3:
COV-IDEOLOGIES
After the rescue. As we enter the 20H2, Covid-19 is still lurking around, and influ-encing our social and economic behaviours. The number of new daily cases globally is at a new high.
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Core Matters & White Papers

LIFE AFTER COVID:
THE LDI VIEW
In this paper our Research and Investment teams analyse “Life after Covid“, covering our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.
HAS GLOBALISATION PEAKED ?
Globalisation has always been a matter of controversy, it has been widely credited with a rise in productivity by exploiting gains of trade
International health insurance demand and future evolution
The economics of health is different, and complicated by adverse selection and moral hazard issues.
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Focal Points

EQUITIES: POSITIVE RETURNS AHEAD DESPITE CHALLENGES
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.
TAKING MONETARY POLICY TO YET ANOTHER LEVEL
The presentation of the new Long Term goal and strategy on August 27 marks a deep shift in the Fed’s monetary policy. The new way inflation and the labour market will affect monetary policy will result in a marked downward bias to interest rates.
BREXIT: PAINFUL NEGOTIATIONS WITH A MODEST RESULT AHEAD
In a recent high level meeting, PM Johnson notified the EU that the UK will not ask for an extension of the Brexit transition period. In accordance, he opted to forego the end of June deadline. This decision does not come as a surprise.
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Market commentaries

COVID-19 FACTS & FIGURES
The OECD said in a report that the world’s GDP is projected to decline by 4.5%, less the 6% estimated in June. Asian Development Bank is projecting a 0.7% contraction in the economies of Asia, representing the first drop since the early 1960s.
HEADWINDS FOR A BREXIT TRADE DEAL ARE RISING
Yesterday, a UK government fresh legislation proposal – the Internal Market Bill - led to heated discussions in the House of Commons. According to the UK government, the bill is intended to guarantee the smooth functioning of trade and prevent disruptions between the four nations of the UK, if no deal is reached with the EU by the end of this year’s transition period.
Q2 EARNINGS END ABOVE CONSENSUS, WITH THE US LEADING. EXPECT BETTER GROWTH AHEAD
Compared to our latest - positive - comment on the 20th of July, the yearly earnings growth of the median sector has improved both in the US and Japan, while the picture is less clear in Europe. Earnings surprises have also increased. On the contrary, reported sales growth and sales surprises have worsened since then.
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Market Compass

Market Compass September 2020
Edited by the Macro & Market Research Team. The team of 13 analysts based in Paris, Cologne, Trieste, Milan and Prague runs qualitative and quantitative analysis on macroeconomic and financial issues.
The team translates macro and quant views into investment ideas that feed into the investment process.
Market Compass July 2020
Edited by the Macro & Market Research Team. The team of 13 analysts based in Paris, Cologne, Trieste, Milan and Prague runs qualitative and quantitative analysis on macroeconomic and financial issues.
The team translates macro and quant views into investment ideas that feed into the investment process.
Market Compass June 2020
Edited by the Macro & Market Research Team. The team of 13 analysts based in Paris, Cologne, Trieste, Milan and Prague runs qualitative and quantitative analysis on macroeconomic and financial issues.
The team translates macro and quant views into investment ideas that feed into the investment process.
LOAD MORE

Macro view videos and podcasts

PODCAST:
MARKET PERSPECTIVES - COVID PARALYSIS RECEDES AS POLITICAL RISK RISES
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.
Generali Investments among preferred asset managers brands in Europe
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.
PODCAST:
LIFE AFTER COVID -
THE LDI VIEW
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.
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