July 2023

Laurent Denize, Global Co-CIO ODDO BHF AM. We are reweighting emerging markets, particularly China, given its attractive valuations and the expected acceleration in growth. As outlined by Bruno Cavalier in his latest Macroview editorial, the global economy is sending out mixed signals. In terms of…

Prof. Dr. Jan Viebig Global Co-CIO ODDO BHF AM. "Our focus is on companies expected to directly benefit from AI‘s increasing ubiquity, either because they possess extensive data, efficient AI algorithms, or because they produce the hardware for optimising neural networks." The launch of ChatGPT,…

César Pérez Ruiz, Chief Investment Officer Pictet Wealth Management. Seeking guidance Last week saw a softer-than-expected US consumer price index reading that gave stocks and bonds a boost on hopes the Federal Reserve will soon end its interest rate hikes. The dollar slumped. Headline CPI…

Enrique Diaz Alvarez, Chief Financial Risk Officer, Ebury. The significant positive surprise in US June inflation numbers set financial markets roaring higher on expectations that the Federal Reserve is very close to the end of hikes. US rates dropped sharply, jokes beyond July were priced…

It might seem a harsh economic environment for lenders. But not for those providing direct loans - less competition from the banking sector, the ability to select from companies with strong balance sheets and high yields make this an ideal entry point. Andreas Klein, Head…

Flavours, fragrances, ingredients, extracts and odours.... of chemical or natural origin, which are widely used in the food and beauty sectors, represent a global market worth around €40 billion and are likely to grow at an average rate of 4% a year over the next…

Tight spreads mean we continue to prefer investment-grade equivalents. Lauréline Renaud-Chatelain, Fixed-income strategist, Pictet Wealth Management. US and euro high-yield (HY) corporate bonds have been extremely resilient in the face of this year’s rise in interest rates. Both thanks to lower effective duration and much…

Since the beginning of the year, we have seen an increasing divergence between the optimism of the equity markets and the warnings coming from the fixed income segment. Equity markets are rising, corporate earnings have been very resilient, and, at the same time, yield curves…

Businesses and investors are stepping up efforts to measure how corporate activity affects the health of the biosphere, and in turn, ​ how biodiversity loss impacts their own financial prospects. Gabriel Micheli, Senior Investment Manager & Viktoras Kulionis, Investment Manager and Senior Environmental Economist Pictet…

Long a pioneer, alongside the USA, in artificial intelligence (AI), China seems to have fallen behind in the second instance, that of Generative AI. ODDO BHF AM would like to devote this Fund Insight to the strengths and weaknesses of China's Generative AI model; distinguishing…