16 Boulevard Royal – L-2449 Luxembourg
Monday to Friday
8 am to 5 pm

Every quarter, our fund managers analyse trends in the global economy and financial markets. Read their views on the third quarter of 2022.

Macroeconomic environment

  • The global economy appears to be heading towards recession.
  • Inflationary pressures show little sign of easing.
  • The US Federal Reserve is tightening its monetary policy at a record pace.

Financial markets

  • After a first half of the year characterised by fears of inflation and rising interest rates, the possibility of a sharp economic slowdown could become the major theme of the second half of the year.
  • An environment characterised by an economic slowdown and a continuation of monetary tightening by central banks cannot be positive for the stock markets.
  • The outlook for Asian markets appears to be generally better than for Western markets.

Subscribe to
our newsletter