Donnerstag, 30. Januar 2020
Cross Asset Investment Strategy
Amundi ETF has selected 3 ideas for your asset allocation based on the latest Cross Asset Investment Strategy publication.
Idea #1: Euro IG Corporate
– "We are positive on EUR IG which should benefit from the QE program and the ‘Subordinated Debt Financial’ space looks attractive.”
– "This asset class remains crucial for investors as EUR IG would continue to add value to European Fixed income portfolio in 2020."
Idea #2: European equities
– “We believe that from a global perspective the most attractive areas are in non-US equities (mainly Europe)."
– "The recent signs of bottoming out of manufacturing in Europe, low unemployment rates and resilient demand support the case for relative attractiveness of European equities (also based on valuations).”
– "When playing the European markets, investors should favour the more cyclicals components."
Idea #3: EM equities
– "A widening of the growth premium vs DM in favour of EMis likely and this will modestly support EM equities."
– "From a global fixed income perspective, we remain neutral on duration but with a preference for duration in theUS compared to the Eurozone and Japan."
– “While on a standalone basis US govies are not cheap, they remain attractive among core bond markets."
– "EM equity valuations appear relatively attractive (MSCI EM trades at 32% discount relative to S&P500) and we believe ongoing stimulus measures would support the economy."