After China’s 19th Party Congress now behind us, the primary takeaway is that President Xi Jinping has cemented his role as the most powerful leader in China since Mao Zedong. The financial reforms should lead to tripling in the size of US bond market to $37.5 Tr, stock market capitalization rising to $31 Tr and banking assets of $68 Tr.
In the fifth round of renegotiations regarding the modernisation of the North Atlantic Free Trade Agreement, no progress was made on the major points of contention. Now the sixth round will take place in Washington in December 2017. While this is not AXA IM’s central scenario, there is still a risk that the negotiations break down.
Mara Tignino and Antonella Angelini | Since its establishment in 2012, the UN Forum on Business and Human Rights has been the global standard for preventing and addressing adverse impacts on human rights connected to business activity.
New generation of private Chinese manufacturers looks for opportunities on distant continent Africa, generating billions of dollars in economic activity.
In a BofAML released today and entitled A Year Ahead Forecast So Bullish, It’s Bearish, analysts draw three main conclusions: S&P 500 expected to climb to 2800 next year, despite sharp mid-year correction; inflation could be a global game-changer for stock and credit markets, and global economic growth accelerates,while the U.S. GDP capped by productivity and wages
Venezuela has been the last to join the cryptocurrency trend by launchinng the so called “petro” in order to combat the US blockade. As reported by Chris Iggo, CIO Fixed Income, at AXA IM, “all the volatility in financial markets seems to have been transported into the virtual world of bitcoin trading”
November manufacturing PMIs published last week recorded very strong levels in Europe and the US. The rest of the world showed increased levels with only a few exceptions. For Julius Baer’s analysts “this continues to signal that global growth momentum will remain solid in the first quarter of 2018, with world trade gaining traction as a main driver.”
Why do Americans think Trump’s tax plan will benefit them if even Treasury secretary, Steven Mnuchin, referred to the projected economic growth of up to 6%, as “optimistic”?
A recent report by Citi attempts to contrast global utilities valuations and highlight key investment opportunities. Summarizing, Asian and LatAm utilities, while growing fastest at 14-16%, trade at dividend yields of 3.5% and 5.3% reflecting risks. Japanese, US and European have dividend yields of 2.4%, 3.5% and 5.5% consistent with their growth profiles of 7%, 6% and 2.7%, respectively.