Amundi Convictions

Discover how we translate market trends into investment views and opportunities in the first half of 2024

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Navigating through changing times

2024 could stand as the year of the pivot: indeed, monetary policy outlooks have started to change, while investments for the energy transition have continued to be deployed in a constrained fiscal space. Looking at geopolitics, this is a record year for elections, with over 60 countries set to vote.
Declining growth levels have been experienced around the world and, while inflation is set to ease, it will likely remain above Central Banks’ (CB) targets. However, there are ample opportunities across regions, given that the growth outlook is fairly fragmented, characterised by divergent economic trajectories across countries.
Over the first half of the year, we believe investors should continue building a balanced profile, by limiting exposure to areas with excessive valuations and not properly priced for a global slowdown, and gradually increase exposure to risky assets that could benefit from a Central Banks’ policy pivot.

Explore our key themes

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Let’s discover why bonds are making a huge comeback
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A sailboat with the rudder in close-up and the sea horizon in the distance.
Explore equity opportunities during uncertain times, and where to position in a more favorable environment
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A bridge connecting cities in South Korea at sunset
Understand how to take advantage from EM’s growth potential and generally low levels of correlation with developed markets
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The sails and the mast of a sailboat viewed from below.
Delve into the wide range of increasing opportunities linked with the transition at a global scale
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See how a dynamic allocation across asset classes aims to capture market opportunities while managing risks
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Find out more about our investment views
Visit Amundi Investment Institute’s Research Center

Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of end of January 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: 2 February 2024

Doc ID: 3368819

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