The market roller coaster continues. After riding a wave of optimism in Europe in the wake of the German fiscal bazooka to increase defense spending, the confirmation of US tariffs sent markets suddenly plunging. What will be the economic impact of Trump’s approach to trade and tariffs? Swaha Pattanaik and Monica Defend, Head of the Amundi Investment Institute, sit down for a special edition of Outerblue Talks Research to discuss the latest market and economic developments and what these mean for investors.

We untangle some of the consequences and probable reactions, in the short, medium, and longer term. What will be the impacts on supply chains? How will GDP growth and inflation be impacted? Will we see a recession in the US and what will be reactions from the Federal Reserve and the European Central Bank? Finally, we detail some of our main calls for investors looking to increase portfolio resilience in this uncertain market environment.

Topics covered: markets, investment, economic, finance, volatility, tariffs, trade, inflation, growth, GDP, central banks, US, Europe, Trump, portfolios

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In the fourth episode of our five-part series on Shareholder Stewardship, Esther Law, Senior Investment Manager, Emerging Markets Debt and Responsible Investing Lead, and Luda Svystunova, Head of Social Research, engage in a dynamic conversation on shareholder engagement on social cohesion - linking human capital and human rights engagements to responsible investors financial considerations, as well as client and societal responsibilities of issuers.

The engagement agenda on social issues continues to expand as new challenges and opportunities for companies and investors emerge in response to societal, regulatory and technological shifts. In this episode, the discussion centers on Amundi’s stewardship on social issues, the materiality and interlinkages between human capital and human rights, as well as their relationship to climate. Additionally, it also focuses on the impact that technology, especially artificial intelligence, is having on the companies’ responsible conduct agenda and how this is factored into our engagement process. 

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In this month's review of the latest developments on the global economy and in financial markets, we focus on the seismic shifts that have been happening in Europe in the past few weeks, in particular, the historic spending package approved by the German parliament.  Swaha Pattanaik and Monica Defend, Head of Amundi Investment Institute, catch-up to discuss the remarkable change in policy, and its implications for Germany and the wider Eurozone.

Will the rally in European markets continue and what opportunities does this open up on the equity and fixed income markets? The episode continues by examining the monetary policy outlook in Europe and how this compares to the projections for US growth.

Finally, we look at whether the Chinese stimulus package announcement has changed our view on the economic and market outlook for China.

This month's topics: Germany, Europe, Defense spending, Markets, Growth, Inflation, Equity, Fixed income, US, China, Monetary policy, Interest rates

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Less than 2 months back in the White House, US president Donald Trump has packed in a great deal; Shifts in policy, tariffs, federal employment, not to mention a huge change in approach to foreign policy. This month, Swaha Pattanaik sits down with Jonathan Duensing, Head of Fixed Income at Amundi US, and Mahmood Pradhan, Head of Global Macro with the Amundi Investment Institute, to try to guide us through the present uncertainty in the markets.

They examine how these different issues have been affecting the US economy as a whole, and fixed income markets in particular and explore where investors can find the best opportunities at the moment. How long will the current pain last, and when and where will the promised gains be realised? They discuss the extent to which the roadmap given during the election campaign has changed and how this is impacting market growth. Will Trump succeed in reducing government spending and what challenges will he face? They finish by drawing on their wealth of experience in previous crises to give their view on whether the current crisis is any differentand what it might mean for fixed income investors.

Topics: Fixed income ▪ Markets ▪ Bonds ▪ Investment ▪ Finance ▪ Research ▪ US economy ▪ Tariffs ▪ Trade ▪ Analysis ▪ Growth

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In the third episode of our five-part series on Shareholder Stewardship, Molly Minton and Julien Foll, both Senior Analysts and Co-leads on Nature at Amundi, engage in a dynamic conversation on shareholder engagement on biodiversity - linking nature-related engagements to the financial considerations of responsible investment.

More than half of the world’s GDP depends on natural resources and pressures on biodiversity and ecosystems present acute risks for investors and society at large. This episode will explore how Amundi uses the framework of the planetary boundaries as a tool to identify key engagement priorities around nature to encourage corporates to better address nature related impacts and risks within responsible investment while also capturing new business opportunities.

Topics: Responsible investment ▪ ESG ▪ Stewardship ▪ Engagement ▪ Nature ▪ Biodiversity ▪ Natural Resources ▪ Research ▪ Investment insights ▪ Corporate responsibility

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Our monthly podcast providing our latest investment views and market analysis.

After an eventful month trying to keep up with the breaking news, not least the debut of new AI model Deepseek, concerns over Trump’s tariff proposals, and European security concerns, Swaha Pattanaik and Monica Defend, Head of Amundi Investment Institute, sit down to reflect on what all these events mean for the markets.

Find out what is driving the equity and fixed income markets and whether we can expect the current gold rush to continue. What were the outcomes of the Munich Security Conference? Have tariffs impacted China’s growth prospects? Where is the US dollar likely to go next? This jam-packed episode takes a look at all the major market events of the month and how these impact our investment views.

This month's topics: Investment views ▪ Market analysis ▪ Equity ▪ Fixed income ▪ emerging markets ▪ Trump ▪ Tariffs ▪ Gold ▪ China ▪ currency

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Each year, Amundi and CREATE interview pension plans to highlight topics shaping the pension ecosystem. As pension investors transition to a new regime, this year, one question is at the top of everyone’s minds: where will the returns come from? The 2024 survey takes a closer look at two of the potential answers in this search for good risk-adjusted returns: private markets and Asian emerging markets.

Sofia Santarsiero, Head of Institutional Business Solutions & Innovation, talks to Professor Amin Rajan, CEO of CREATE Research, the co-author of the report, to find out more about how and why pension funds’ attitudes to these two asset classes are changing. They discuss the preferred ways for pension funds to invest and what has been driving, or constraining, allocations.

Topics: Pensions ▪ Retirement ▪ Private markets ▪ Private assets ▪ Emerging markets ▪ Asia ▪ Market analysis ▪ Research ▪ Finance ▪ survey

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In the second episode of our five-part series on Shareholder Stewardship, Aaron McDougall, Head of Climate & Ciaran Callaghan, Head of European Equity Research engage in a dynamic conversation on shareholder engagement on climate - linking climate engagements to responsible investors financial considerations.

They also discuss Amundi’s commitment to playing its part in achieving the objectives of the Paris Agreement, by helping clients willing to take climate risks and opportunities into account within their investments. They emphasize how Amundi engages with issuers to together achieve a pragmatic transition for the decarbonization of supply chains, products & portfolios, balancing the imperatives of both climate and investors.

Finally, they explore best practices in climate engagements and voting, drawing on real-world case studies from Amundi’s interactions with issuers.

Podcast topics: Responsible investment ▪ Climate ▪ Engagement ▪ Equity ▪ Investor ▪ Energy transition ▪ Supply chains ▪ portfolio

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2025 got off to a dramatic start with an unexpected jump in bond yields. What has been driving this move and do we expect it to continue? Swaha Pattanaik and Monica Defend, Head of Amundi Investment Institute,  share their investment views and explain what’s been happening in the US and UK and explore what these mean for our growth and interest rate forecasts.

We also look closer at what potential policy shifts from incoming US President Trump, and the associated international response, could mean for the markets.

Topics of this episode: Investment views ▪ Market analysis ▪ Fixed income ▪ Bonds ▪ US ▪ UK ▪ economy ▪ Growth ▪ Interest rates ▪ Forecast

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After a campaign full of twists and turns, November saw the re-election of Donald Trump for a second term as US president. In this edition, we take a look at the geopolitical and economic ramifications of a new Trump presidency. Swaha Pattanaik sat down at the end of November with Anna Rosenberg, Head of Geopolitics at the Amundi Investment Institute and Paresh Upadhyaya, Director of Fixed Income and Currency Strategies, Amundi US, to discuss what lies ahead for the USA and the rest of the world.

Beyond the attention grabbing threats of tariffs, what are the realistic expectations for trade policy and how is China likely to react? How might Trump’s second term differ from his first and what clues can we gain from his cabinet and staff appointments? Our experts examine these questions and what this might mean for the US economy in terms of inflation and interest rates and where we might expect surprises.

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