Every quarter, our fund managers analyse trends in the global economy and financial markets. Read their views on the third quarter of 2023.
- 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.
- 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.