We see 4 themes driving markets in the weeks to come:

  1. Higher energy prices dampen growth
  2. Central banks will be crucial to watch
  3. Europe’s time for strategic autonomy
  4. Gold still matters as a diversifier*
2026_MAY - Monthly Market Views-EN

*Diversification does not guarantee a profit or protect against a loss. 

Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 30 April 2026. 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: 30 April 2026

Doc ID: 5429316