Investor Account Access
Investor access to Shareowner accounts and Closed End Funds accounts.
Biden's exit from the presidential race opens a phase of uncertainty
Monday 22 July 2024
Investment Talks
Biden's exit from the presidential race opens a phase of uncertainty
July 2024 | Market reaction to Biden's announcement has been muted at the time of writing, with a fall in the US dollar in early trading on Monday (July 22nd), a marginal movement in 10-year US Treasuries, and an upward trend in equity futures. In terms of the implications on markets, the election outcome is still highly uncertain. It is too early to define a potential "Harris trade," but even to have a specific trading strategy for a potential Trump 2.0 administration, as there is ideological uncertainty regarding its goals and policies. There are also significant ideological clashes that the Trump administration would need to address, such as the approach towards China, inflation, tariffs, fiscal expansion and the desire for a weaker dollar.
01 | Current US President Joe Biden announced on Sunday that he will not seek re-election and endorsed Vice President Kamala Harris as the Democratic nominee. Donations for the campaign have begun to rise after Biden's decision.
02 | The Democratic convention in Chicago from August 19th to 22nd is a potential venue for the nomination of Kamala Harris, which would draw attention to the party and the new candidate.
03 | We believe markets will continue to focus on the current earnings season and on the potential actions of the Fed, while the implications from the election could become more prominent after the summer when the campaign enters its hottest phase.
Important Information
Unless otherwise stated, all information contained in this document is from Amundi Asset Management as of July 22, 2024 . Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the [author] and not necessarily Amundi Asset Management and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product or service. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not indicative of future results. Amundi US is the US business of Amundi Asset Management.
RO ID# 3742761
©2024 Amundi Asset Management
Other news
07/15/2024
Investment Talks
US High Yield Market Outlook & Positioning
Second-quarter returns were positive but uncompelling as not offering a premium to cash. Several of the economic indicators we monitor are indicating softer growth may lie ahead. Although we identify multiple positive factors for high yield, valuations are challenging. With spreads tight and the economy likely to slow, we are positioning portfolios defensively in anticipation of spread widening.
06/03/2024
Investment Talks
Capturing the Momentum of a Narrowing Earnings Gap
Since early 2023, a handful of the market's top stocks, including the Magnificent Seven, have surged in earnings and valuation, and have dominated returns. Underneath the surface of today's concentrated, crowded market, sharp earnings recoveries may soon play out and structural changes may occur in many industries, creating new winning and losing stocks. Separating the potential winners from the rest of the market will be key to portfolio success over the next year, and beyond. With so much uncertainty and variability across industries and companies, we believe active management is essential to capturing the momentum of a changing market.
05/15/2024
Investment Talks
Going Global with Equities - May 2024
Due to factors, including significant stimulus and hopes over artificial intelligence, a handful of the top US stocks are experiencing significantly high valuations. While US investors should continue to have exposure to domestic stocks, the outlook for international stocks appears to be improving. With global valuations unjustifiably low, a potential recession ahead, and top US stocks currently posting excessive valuations, investors may wish to consider expanding the global reach of their portfolios to opportunities in Europe and Asia.
Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our literature section.
Securities offered through Amundi Distributor US, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer mutual funds, Member
SIPC.
Not FDIC insured | May lose value | No bank guarantee Amundi Asset Management US, Inc. Form CRS Amundi Distributor US, Inc. Form CRS