Amundi’s 2024 Investment Outlook


We believe 2024 will see the tide turn for the economic and monetary policy outlooks, while fiscal policy may experience constrained consolidation with the focus remaining on the energy transition.

We expect the United States to face a recession in H1 as stringent financial conditions begin to impact consumers and businesses. In H2, we expect growth to stabilize below its potential and inflation to move closer to its target. We expect a gradual weakening of global growth, while inflation is expected to temper but stay above central bank targets. We call this a fragmented outlook, marked by divergent economic trajectories.

 Amundi's 2024 Outlook from the New York Stock Exchange


Amundi Macro Outlook 2024

In this insightful discussion, panelists Monica Defend, head of the Amundi Institute; Paresh Upadhyaya, director of fixed income and currency strategies; and Craig Sterling, head of equity research, explore the dynamics shaping the global and US landscape in 2024.


Global Asset Allocation Fireside Chat

Marco Pirondini, Chief Investment Officer, talks with Jason Xanthakis, head of international retail business and US intermediary strategy, partnerships, and national accounts at Amundi US, about a range of potential investment opportunities across fixed income and equity markets in the US and globally.

   2024 Investment Outlook 

Opportunities lie beyond precarious path to growth

  • Turning tides in growth, inflation and monetary policy could generate opportunities for investors to rotate from a more defensive to a more constructive stance during the year.
  •  Adding duration is the mantra entering into 2024, as government bonds now offer an attractive asymmetric profile with appealing upside potential and limited downside.
  • With the peak of inflation, rates, and the US dollar likely behind us, we suggest investors reconsider emerging markets as a key performance engine.


 Read our 2024 Outlook 


Featuring Insights from:

Vincent Mortier
Group Chief Investment Officer, Amundi

Monica Defend
Head of Amundi Investment Institute & Chief Strategist

Marco Pirondini
Executive Vice President
Chief Investment Officer, US
Portfolio Manager

Jonathan Duensing
Senior Managing Director
Head of Fixed Income, US
Portfolio Manager

Craig Sterling
 Managing Director
Head of Equity Research, US
Portfolio Manager

Ken Taubes
Executive Vice President
Portfolio Manager