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 2023.

Macroeconomic environment

  • The resilience of services activities is delaying the onset of recession.
  • Although inflation is slowing, the labour markets will need to deteriorate more significantly to reach the 2% target.
  • The central banks seem set to continue their monetary tightening during the summer months.

Financial markets

  • Stock market indices are increasingly driven upwards by a limited number of stocks that have become expensive.
  • The outlook for the Japanese market is positive.
  • Gold continues to resist rising real interest rates.

Subscribe to
our newsletter