Eurizon's podcast

The stock markets scored gains in the month, in a context of rising long-term yields. These are supportive indices for the markets and the overall scenario, with economic growth on track and adjusting to cruising speed.
Focus points are still inflation, that in any case is not accelerating, China, that may at last resume injecting stimulus into the economy, and the decisions taken by the Fed, that for the time being seems to be acting in line with market expectations and steps forth as a factor capable of keeping volatility under control.
In this audio, Andrea Conti, Head of Eurizon’s Macro Research and Product Specialist team, analyses the current economic picture and explains Eurizon’s positioning in November 2021.
Audio recorded on 27.10.2021

Interest rates continued along the normalisation path taken a few weeks ago, that outlines the transition from a sharp acceleration phase to a growth consolidation phase.
Audio recorded on 25 Oct. 2021

Positive week on the main global stock markets, in the wake of US corporate earnings and the trend of the government bond rate market. However, stock indices were pushed up in particular by the inflation reading.
Audio recorded on 18 Oct. 2021

Last week the major global stock markets returned into positive territory after a profit-taking phase, the Fed’s plans to start tapering asset purchases by the end of the year further confirmed.
Audio recorded on 11 Oct. 2021

Among the main economic picture focus points in the near term, it is important to understand whether restrictive factors will prevail (inflation and China), or if current uncertainties will be overcome, allowing the central banks to continue normalising monetary policy.
Andrea Conti, Head of Eurizon’s Macro Research & Product Specialist team, explains how we are positioned in relation to the macroeconomic context.
Audio recorded on 29 Sep. 2021

Last week the major stock indices scored gains, after previously hinting at a correction. Yields increased, confirming positive market sentiment. The Fed lived up to expectations and announcing it will start the tapering process by the end of the year, while bringing forward the timing of the rate hike in 2023. On the other hand the Chinese stock market is struggling, due to Evergrande and to the government’s new policy approach. Inflation data out this week in the US and in the EU.
Audio recorded on 27.09.2021

Last week stock indices remained rather uncertain, at the same levels as the previous week’s.
Macro data confirmed the scenario outlined by the Fed, with the economic recovery on track but still in need of time to consolidate. In China, the tightening of rules and regulations for private sector businesses continued.
Anticipation this week ahead of the Fed meeting on Wednesday, that should bring updated expectations for the path of interest rates and details on the tapering process
Audio recorded on 20.09.2021

ong-term government bond yields in the US and Germany have dropped significantly, raising questions on the solidity of the economic recovery.
There are at least four factors holding back the recovery: the reacceleration of Covid infections, the loss of purchasing power caused by inflation, the tightening of lending conditions in China and a the prospect of a less accommodative Fed.
This is a combination that implies a certain degree of uncertainty in the immediate term, but which should be positively resolved.
Audio recorded on 29.07.2021

The stock markets performed well in the week, after hinting at a correction that was ultimately avoided. Focus is mostly on the Delta variant of the virus and on the UK’s experiment in going ahead in any case with the full removal of restrictions. The fact that, for the time being, the rise in infection numbers is not translating into more hospital admissions is reassuring. This week the Fed meeting will be in the spotlight, to reap any indications on the timing and technicalities of the tapering
Audio recorded on 26.07.2021

Audio recorded on 19.07.2021