BNP PARIBAS ASSET MANAGEMENT - AC Fixed Income 1440x300
Investmentstrategien

A pause that refreshes, but for how long

January 18, 2019 -

Fixed income quarterly outlook Q1 2019

Key points

  • Tighter financial conditions and a weakening global backdrop have led the Federal Open Market Committee to signal a pause in the hiking cycle. We suspect other developed market central banks could put their own normalization plans on hold this year.
  • Continued stimulus from Chinese authorities, combined with signs of progress in the US-China trade dispute, also support our cautious optimism on the global growth outlook this year. Global growth is set to slow this year, but concerns over a 2019 recession in the US or other major economies are likely misplaced.
  • Still, market volatility is likely to remain elevated. Monetary policy is not providing the level of accommodation it was a year ago, the fiscal impulse is set to fade in the US, and corporate profit growth in most economies is slowing. A host of political risks will continue to weigh on risk sentiment as well.

 

Mehr zu diesem Thema
Dashbord_Control_1440x300
January 17, 2019

We remain structurally neutral equities, and we are underweight core bonds in view of gradually rising inflation and monetary policy normalisation. We are open to being more tactical and ensure we are appropriately hedged & diversified.

BNP PARIBAS ASSET MANAGEMENT - TM Reading summer 1440x300
July 16, 2018

Covering Germany and Europe, adaptive markets, a note from the Fed and more

BNP PARIBAS ASSET MANAGEMENT - TM Infrastructure 1440x300
July 16, 2018

Infrastructure Debt ist zu einem wesentlichen Bestandteil der Asset-Allokation von Investoren geworden, die ihr Credit-Engagement diversifizieren möchten. Infrastrukturfinanzierungen bieten drei Vorteile: stetige und attraktive Cashflows, ein im Vergleich zu anderen ratinggleichen Festzinsinstrumenten attraktives Risiko-Ertrags-Profil und eine bevorzugte Behandlung durch die Aufsichtsbehörden beim Zielsolvenzkapital (SCR).

How do we at BNP Paribas Asset Management contribute to a better world?