With less than six weeks until the end of the year, some big investors are undecided: which metaphor should they use to summarize their market forecasts? Vincent Mortier, management director at Amundi, Europe’s leading asset manager, singles out the spinning top companies: “Many forces are at play for the current cycle to continue, but a grain of sand can disrupt that movement.”he explained.
At UBS, Mark Haefele, chief investment officer, prefers to question the market’s ability to achieve “escape velocity” – which makes it physically possible to escape the force of gravity – to enter a new growth cycle.
The general point? Questions about the future trajectory of financial markets after 2025 are very positive. Even after withdrawal In November, most major stock market indexes posted double-digit gains: America’s S&P 500 has gained more than 11% since November 1uh January, Nasdaq 14%; In Europe, Germany’s DAX and Britain’s FTSE rallied more than 16% while Paris’ CAC 40 had to settle for a 7% gain. And the gains in Europe are even stronger when calculated in dollars, as the greenback has depreciated more than 10% in eleven months.
“While this looks like a great year, it will actually be a tumultuous year.”summarizes Henri Chabadel, BlackRock’s investment manager for France, Belgium and Luxembourg.
