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 Al het nieuws

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

Macroeconomic environment

  • A global recession is looking increasingly likely.
  • Persistent inflation in services is preventing a rapid easing of price increases.
  • The decline in stock prices since the beginning of the year is not a buying opportunity.


Financial markets

  • The decline in stock prices since the beginning of the year is not a buying opportunity.
  • Earnings expectations seem too high given the upcoming economic slowdown.
  • The risk of a further sharp rise in bond yields seems limited.

Guy Wagner, Chief Investment Officer

Originally from a family of entrepreneurs in Luxembourg and with a degree in Economics from the Université Libre of Brussels, Guy joined Banque de Luxembourg in 1986, where he was successively responsible for the Financial Analysis and Asset Management departments, then became Managing Director of BLI - Banque de Luxembourg Investments, an asset management company newly created in 2005.

From July 2022 on, he devotes himself exclusively to his role as Chief Investment Officer, to the management of the portfolios and to the management of the team in charge management of the various funds.

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