Commentary by Monica Defend
4 themes driving markets:
- Germany's fiscal shift and the EU's defence push
- Tariffs threaten US growth more than inflation
- Trade policy uncertainty makes Fed's task harder
- China's fiscal support boosts sentiment
Monthly Market Views: April 2025
2025_04- Monthly Market Views - EN Long
Monthly Market Views: April 2025
Weekly Market Directions: Week of 21 - 25 April 2025
Trade war is clouding global growth
Key takeaways:
- The recent IMF downgrade highlights how policy ambiguity could hurt global trade and economic activity.
- The IMF raised inflation forecasts only marginally for this year; we think the disinflation trend should continue in medium term.
- In such a context, the central banks’ task becomes difficult as they try to balance supporting growth and fighting inflation.
Weekly Market Directions: Week of 21 - 25 April 2025
Global Investment Views Infographic: April 2025
Global Investment Views Infographic: April 2025
The fiscal lever returns in an uncertain global order
4 trends identified for the month ahead:
- Agility on bonds in times of uncertainty
- Focus on robust businesses
- Explore the income potential of credit
- Keep a vigilant, diversified* stance
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The Amundi Investment Institute platform combines an explanation of what’s going on in the economy and markets with implications for investors. They produce a range of regular and ad-hoc publications tailored to a wide range of readers.
*Diversification does not guarantee a profit or protect against losses.
Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 08 May 2024. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.
Date of first use: 1 July 2024
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