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.

MACRO VIEW VIDEO – 03 June 2020

 

with Vincent Chaigneau, Head of Research at Generali Insurance Asset Management

Market Perspectives and Investment View

A (TEMPORARY) COVID ‘LEG DOWN’
The rise in new Covid-19 cases and renewed lockdowns across Europe are casting long shadows over the economic recovery and markets. Yet much more targeted restrictions, a strong Chinese rebound and continued massive fiscal and monetary policy support will keep the second wave’s impact far more muted than in spring.
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. Partly, this reflects more intensive testing. The latter now captures a broader and younger population.
Economic Hardship vs. Policy Deluge
Defying the deepest global post-war recession, risk assets have continued to climb the wall of worries.
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Core Matters

LIFE AFTER COVID: 5-YEAR TOTAL RETURN FORECASTS
The Global Covid Crisis (GCC) has had a profound impact not just on our lives but also the economy and financial markets. Even after those life-changing developments and sharp market movements, our 5-year total return forecasts have not changed dramatically. We reiterate the view that future returns will fall very short of historical ones, particularly those of the past ten years.
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.
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Focal Points

State-aid framework under Covid: what impact on credit markets?
State-aid framework under Covid: what impact on credit markets?
Focal Point: German CC ruling: How much pain for the ECB?
The German Constitutional Court (CC) judged the ECB’s Public Sector Purchase Program (PSPP) as partly unlawful as the German parliament did not demand a justification of it by the ECB but also ruled that it was no state financing.
Spain: Headwinds ahead but Bonos to stay solid
In Spain, the new, fragile left-wing minority coalition plans to unwind key elements of the 2012 labor market reforms and intends to increase income and corporate taxes.
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Market commentaries

CHINA’S GDP SURPRISED ON THE UPSIDE BUT DEMAND STAYED RATHER WEAK
China’s GDP rose by 3.2% yoy in Q2, after a Covid-19 related drop by 6.8% in Q1, according to data published by China’s statistical office this morning.
(Weekly Pandemic) Market Commentary - Rating Agencies show their teeth
More countries discussing and implementing lockdown exit strategy: slow and cautious.
Pause for (sobering) thought
China’s official NBS PMIs bounced back in March. The manufacturing PMI rose to 52.0, up from 35.7, while the non-manufacturing increased to 52.3 after 29.6 in February.
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Market Compass

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.
Marktkompass April 2020
Herausgegeben vom Macro & Market Research Team. Ein Team von 13 Analysten mit Sitz in Paris, Köln, Triest, Mailand und Prag analysiert qualitativ und quantitativ makroökonomische und finanzielle Fragen.
Das Team überträgt makroökonomische und quantitative Ausblicke in Anlageideen, die in den Anlageprozess einfließen.
Market Compass March 2019
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.
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Macro view videos and podcasts

THE SPOTLIGHT - GENERALI INVESTMENTS PODCAST
Q4 INVESTMENTS VIEW | THE NEW AGE OF FINANCIAL REPRESSION
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on the executive summary of the latest Investment View Report released by our Research team.
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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