Dieser Fonds ist nur für den Einsatz in fondsgebundenen Versicherungen erhältlich.
Bitte bestätigen Sie, dass Sie diesen Hinweis gelesen und verstanden haben, um fortzufahren.
Chief Investment Officer based in Aperture’s London office
Two FOMC hikes later and 10% lower
Here we are, we have closed the second quarter and the first half of the year with the European equity market down 13.8% YTD.3 All of the market rally staged in late Q1/March was given back in May and June as market participants eventually digested two FOMC meetings; and just two FOMC meetings seem to be all it took for us to bid farewell to “stagflation” and replace it with the new macro topic du jour: “recession”!
Chronologically, the Fed first hiked rates +50bps on Wednesday 4-May, and on this occasion, the market tantrum came in a slightly delayed form on the following Friday and Monday. Then the following month, the Fed announced another faster rate hike of +75bps on Wednesday 15-Jun, and this time the market reaction happened in anticipation a week earlier on Friday 10-Jun with the higher US CPI data for the month of May acting as the precursor for imminent, more restrictive policy.
© Generali Investments, alle Rechte vorbehalten. Diese Website wird von der Generali Investments Holding S.p.A. als Holdinggesellschaft der wichtigsten Vermögensverwaltungsgesellschaften der Generali Gruppe zur Verfügung gestellt, die direkt oder indirekt die Mehrheitsbeteiligung an den unten aufgeführten Gesellschaften hält (im Folgenden gemeinsam "Generali Investments"). Diese Website kann Informationen über die Tätigkeit der folgenden Gesellschaften enthalten: Generali Asset Management S.p.A. Società di gestione del risparmio, Infranity, Sycomore Asset Management, Aperture Investors LLC (einschließlich Aperture Investors UK Ltd), Plenisfer Investments S.p.A. Società di gestione del risparmio, Lumyna Investments Limited, Sosteneo S. p.A. Società di gestione del risparmio, Generali Real Estate S.p.A. Società di gestione del risparmio, Conning* und unter deren Tochtergesellschaften Global Evolution Asset Management A/S - einschließlich Global Evolution USA, LLC und Global Evolution Fund Management Singapore Pte. Ltd - Octagon Credit Investors, LLC, Pearlmark Real Estate, LLC sowie Generali Investments CEE. *Einschließlich Conning, Inc, Conning Asset Management Limited, Conning Asia Pacific Limited, Conning Investment Products, Inc, Goodwin Capital Advisers, Inc. (zusammen "Conning").
