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.

Perspectives - Financial markets analysis