Insights | Ostrum Asset Management

INSIGHTS MARKETS

Natixis Investment Managers market Barometer: the group’s affiliates views on various asset classes

01/19/2024

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INSIGHTS MARKETS

2024, an excellent fixed income vintage forecasted

During Natixis Investment Managers 2024 Outlook conference, Philippe Berthelot, Head of Credit & Money Market at Ostrum AM shared his views on fixed income markets.

01/19/2024

Reserved for pros

Reading time : 15 min.

INSIGHTS MARKETS

Ostrum Perspectives January 2024

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets.

01/16/2024

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Reading time : 15 min.

INSIGHTS MARKETS

2024 outlook Duration and the climate transition: risk or opportunity for sovereign bonds?

With major central banks crossing the finish line on aggressive tightening cycles, Ostrum Asset Management (Ostrum AM) expects 2024 to be rich in investment opportunities but signals there are still multiple risks to be managed. Amongst the usual suspects are credit, duration and volatility, but there are also others to consider such as the configuration of yield curves and the growing risks related to the climate transition.

01/10/2024

Reserved for pros

Reading time : 30 min.

INSIGHTS MARKETS

2024 OUTLOOK : Multiple risks, multiple opportunities

After a favourable year for the financial markets in 2023 despite a troubled international context, 2024 should see a change of era, according to the experts at Ostrum AM, an affiliate of Natixis Investment Managers. Investors will have to adapt to a new market environment now in the hands of lenders, with interest rates permanently above 2%. 2024 should be a year rich in investment opportunities, served by active management of risks that are a priori contained but growing: duration risks, default risks for governments and companies alike, and volatility risks, not to mention the growing risks associated with climate change.

01/09/2024

Reserved for pros

Reading time : 15 min.

INSIGHTS MARKETS

Ostrum Perspectives December 2023

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets.

12/19/2023

Reserved for pros

Reading time : 5 min.

INSIGHTS MARKETS

Sovereign bonds markets: which opportunities for 2024 in a context where US & European governments debts have more than doubled in a decade?

Dieudonné Djimi, Global Interest Rates & Currency Portfolio Manager at Ostrum Asset Management, discusses Outlook for sovereign bond markets in 2024 . As mentioned in Ostrum 2024 global outlooks, the fixed income market will have to deal with an unprecedented rise in net bond issuance, as the central banks aim to ease their rates. This situation should lead towards a record year for sovereign issuance. In this environment, how can we ensure that market makers are able to fulfil their role as principal liquidity providers to the bond markets? How can trading protocols and enhanced connectivity create new sources of liquidity? What is the role of transparency in underpinning market resilience? How do conditions in the repo and derivatives markets impact underlying bond markets?

12/13/2023

Reserved for pros

Reading time : 15 min.

INSIGHTS MARKETS

Brazil: Zero deforestation target for the planet’s lungs

At a time when the issue of preserving forests to combat global warming is central to the COP28 debates, President Lula marks a break with his predecessor and calls on world leaders to "take concrete action and respect climate agreements". In a country where agribusiness has destroyed almost 50% of the vegetation cover, one of the main challenges of the new presidential term is to increase the agricultural area without cutting down trees. The date has been set for the COP30 in Belem. At the same time, the country's commitment to fiscal and budgetary reform is expected to put public finances on a sounder footing as it embarks on a major structural macroeconomic turnaround. Everything is in place to attract international investors.

12/11/2023

Reading time : 30 min.

INSIGHTS MARKETS

Outlook for 2024 – Multiple risks… just as many opportunities

Coming on the heels of 2023, a year that turned out favourable for the financial markets despite a disruptive international environment, 2024 promises to usher in a new era, according to the experts at Ostrum Asset Management (Ostrum AM), an affiliate of Natixis Investment Managers. Investors will thus have to adapt to a new market configuration, one where the lenders have the power, with interest rates set to remain above 2% for a prolonged period. 2024 is shaping up to be a year filled with investment opportunities, served by active management of risks that should in principle be contained but are nevertheless on the rise: duration risks, credit risks and volatility risks, not to mention risks associated with climate change.

12/04/2023

Reserved for pros

Reading time : 15 min.

INSIGHTS MARKETS

Ostrum Perspectives November 2023

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets.

11/21/2023

Reserved for pros

Reading time : 15 min.

INSIGHTS MARKETS

Ostrum Perspectives October 2023

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum’s views on the economy, strategy and markets.

10/17/2023

Reserved for pros

Reading time : 5 min.

INSIGHTS MARKETS

One market hiding another

An unprecedented situation in global equity markets The rise in global equity markets observed in 2023, through until the summer, was chiefly attributable to expanding valuation multiples in the most speculative sectors. The resulting historic peak in sector concentration is comparable to the periods preceding the bursting of the technologies-media-telecoms (TMT) bubble and the 2008 financial crisis. Consequently, the gap in growth outlook, between the most volatile and the least volatile sectors, is four times higher than the historic average. In the context of an economic slowdown, this historically wide valuation and implied growth spreads, in favour of one single sub-segment of the market, offers some genuine relative alternatives. For investors, opportunities may arise with defensive sectors and value stocks narrowing the gap moving forward.

10/09/2023

Reserved for pros