Mensuel de mai 2022 - Fonds d’investissement

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The return of inflation
By Mozamil AFZAL, Global CIO of EFGAM and Chief Executive Officer EFG Asset Management   The Russia-Ukraine war, the impact on commodity prices and a new Covid outbreak in China are among the key uncertainties facing the global economy. Higher inflation is a universal concern, but the policy reaction is far from uniform.   US rates: heading higher   US interest rates are heading higher. Futures markets show the Fed Funds rate above 2% by the end of 2022 and levelling out at 3.25% in mid-2023. To reach that terminal level, the Fed would need to raise the rate by 25bp at each of the next 11 policy meetings. That progression would be slower than the market expects, leading some to suggest that one or more of the rate...
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