Turns, Shifts and Cuts

Unio Global Macro Council Outlook August 2024 

This month’s Unio Global Macro Council (GMC), meeting was devoted to an analysis of the performance of investment styles at turning points in the economy.

It seems that a 'new regime’ is in place for interest rates. We discussed the change in behaviour of central banks from a tightening bias to a loosening one. In Europe, we also expect the European Central Bank to continue cutting rates, and this has the potential to kickstart lending. Often turns in interest rates are also accompanied by shifts in the performance of inter-related asset classes, or investment styles. Read more in this month's GMC Outlook.

We were fortunate to be joined by guest speakers Edward Rackham, Co-Chief Investment Officer at Los Angeles Capital, Laszlo Tisler, Vice President, Portfolio Research at BlackRock, Stefan Poechhacker, Vice President at BlackRock and, Natasha Sarkaria, Investment Strategist, BlackRock. Thank you for your insights and expertise.

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