Juni 8, 2021

Market Compass June 2021

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In Kürze

Edited by the Macro & Market Research Team. The team of 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 2021
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Highlights

  • Markets have already priced a lot of growth optimism, but there remains upward potential, with vaccinations now proceeding swiftly in Europe, too.
  • Central banks will announce some reduction in the stimulus in a controlled fashion over the summer, but stay prudent acknowledging the risk of communication accidents amid overheating concerns in the US.
  • We keep a moderate pro-risk tilt favouring Equities and Credit over longerdated Govies.
  • Worries about US inflation will remain. Inflation swaps remain attractive as a hedge against them. Avoid unhedged USD exposure.

Download the full publication below:

Market Compass June 2021
8. Juni 2021
PDF

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