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     101  0 Kommentare 2022 Market Outlook From Columbia Threadneedle Investments - Changing Monetary Environment Sets the Backdrop for a Year of Change In 2022

    William Davies, Deputy Global Chief Investment Officer at Columbia Threadneedle Investments, outlines his outlook for 2022:

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207005870/en/

    William Davies, Deputy Global Chief Investment Officer at Columbia Threadneedle Investments, predicts 2022 will be a year of change (Photo: Business Wire)

    William Davies, Deputy Global Chief Investment Officer at Columbia Threadneedle Investments, predicts 2022 will be a year of change (Photo: Business Wire)

    • The economic backdrop through 2022 may present opportunities for investment. We expect the recent divergence of performance of growth versus value companies will become more modest.
    • We will continue to favour quality companies which demonstrate good long-term returns and consideration of Environmental, Social and Governance factors, utilising our investment research capabilities.
    • Opportunities to invest in Emerging Markets both for equities and fixed income will be a point of focus and equities overall should remain favourable.
    • We believe 2022 will be a strong year for “rising stars” in fixed income as many high yield companies achieve investment grade status.

    Interest rates have been historically low for more than a decade, dampened by the flood of monetary stimulus introduced in the wake of the global financial crisis. In 2022 we expect this to change. As we move towards economic recovery from the Covid-19 pandemic, next year will be marked by a role-reversal in monetary policy: crisis support, stimulus and spending replaced by recovery, repair, reduced fiscal stimulus and a return towards “normal”. Political compromise will be key, not least in the US, as governments tackle the transition. As the support for asset prices is withdrawn, active management – unearthing companies with the enduring qualities that will help them navigate volatility – will be essential to success in 2022.

    Inflation: No time to panic

    Earlier in 2021 we predicted that the reopening trade, coupled with supply chain issues, would create a transitory inflationary environment, which it has. While this transitory period is lasting longer than anticipated, our view remains that inflation will moderate, as we go through 2022.

    Helpfully, central banks continue to look through inflationary pressures; for example the US Federal Reserve has not appeared overly concerned by higher and persistent US inflation, which in previous cycles would have been perceived as a major headwind. Investors and markets, too, are fairly sanguine. Equity markets are at highs, buoyed in some areas by strong M&A (most obviously in the UK), while the steepening and flattening yield curve has been interesting to watch without causing as much consternation as we might expect. This is in stark contrast to previous talk of shifts in monetary policy in 2013 and 2018 which induced negative market reactions, not least the taper tantrum. Now, the market feels more poised, having waited so long for clarity. This makes us more confident for 2022, albeit in a slowing growth environment.

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    2022 Market Outlook From Columbia Threadneedle Investments - Changing Monetary Environment Sets the Backdrop for a Year of Change In 2022 William Davies, Deputy Global Chief Investment Officer at Columbia Threadneedle Investments, outlines his outlook for 2022: This press release features multimedia. View the full release here: …

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