Investor Account Access
Investor access to Shareowner accounts and Closed End Funds accounts.
A Year of War in Ukraine: Accelerating the Energy Transition and Fragmentation
Wednesday 01 March 2023
Investment Talks
A Year of War in Ukraine: Accelerating the Energy Transition and Fragmentation
March 2023 | In the year since the Ukraine War began, the geopolitical landscape has changed significantly. NATO has re-established itself as the West's foremost defense organization and is expanding as a direct consequence of the conflict, as shown by Sweden and Finland's recent efforts to join. Germany, now one of the biggest defense spenders in Europe, is no longer sitting on the sidelines when it comes to military decision-making. All across the continent, defense spending as a share of GDP has increased significantly. Meanwhile, a surprising number of countries are refusing to condemn Russia and are enjoying new importance on the global stage. Nuclear power and new energy sources are also hot topics.
01 | The West's recent decision to send battle tanks to Ukraine increases the risk of a direct escalation with the West, while the likelihood of a protracted war remains somewhat higher.
02 | As the battle intensifies with a new Russian offensive underway, it is unlikely that either side will decisively gain the upper hand in the near term (4-6 months).
03 | The economic impact on Ukraine has been devastating, with over 5 million people displaced and a collapse in GDP. Estimates of reconstruction costs range from USD $350-$750 billion and are still rising.
Important Information
Unless otherwise stated, all information contained in this document is from Amundi Asset Management US (Amundi US) and is as of February 20, 2023. 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 US 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. Amundi Asset Management US is the US business of the Amundi Asset Management group of companies.
Other news
04/23/2024
Investment Talks
Remain agile in bond selection, with an eye on last mile inflation
Though the US economy and consumers appear to have largely defied the "gravitational pull" of significantly tighter monetary policy, we continue to view the risk of a recession during 2024 as higher than normal. We expect that such a recessionary scenario would lead to significantly greater interest rate cuts, while the "no landing" scenario of more persistent inflation would delay the start of rate cuts. As developed economy central banks continue to grapple with when to start normalizing local monetary policy, now could be an interesting time for investors to strengthen their portfolios by extending the duration of their fixed income portfolios and raising credit quality and liquidity profiles while carefully weighing global opportunities.
04/17/2024
Investment Talks
US High Yield Market Outlook and Positioning
Although first-quarter returns proved to be anemic, at least they were consistent. Across the quarter, monthly returns were positive and spreads moved tighter. With inflation's decline stalling, short-term rate expectations stabilized. Within high yield, Treasury yield increases largely negated the effects of tighter spreads, leading to returns near the index's coupon yield. Although CCCs were the best performers in the US and globally, the US High Yield Distressed Index (comprised of issuers with spreads over 1000 basis points) underperformed the broader US high yield market, indicating investors were more interested in high-yielding bonds than in potential workouts.
04/05/2024
Investment Talks
Bonds Take Center Stage
For most of the last year, savers have been earning a reasonable return in cash. But how long can these compelling cash rates last? Historically, the answer has been: not very long. In every rate hike cycle since the 1970s, the US Federal Reserve has “paused at the peak” federal funds rate for a matter of months, not years, and history suggests the rate cuts could begin soon. With history as a guide, we believe investors may benefit from locking in some of today’s historically elevated interest rates by moving out of cash and into short-term bonds.
Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our literature section.
Securities offered through Amundi Distributor US, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer mutual funds, Member
SIPC.
Not FDIC insured | May lose value | No bank guarantee Amundi Asset Management US, Inc. Form CRS Amundi Distributor US, Inc. Form CRS