The US economy continues to show great strength, with a growth forecast for this year of around 2.4%, expected inflation of close to 3% and full employment. With these numbers, the prospect of rate cuts are receding further into the background of the Fed's road map.
The Israeli attack on the Iranian consulate in Damascus (Syria) on April 1 and Iran's response 12 days later have caused an increase in tensions in the Middle East, where the situation was already particularly complicated following Hamas’ October 7 attack on Israel and the resulting impact on the Palestinian population.
Global stock markets continue to rise, despite the dampening of expectations as far as rate cuts go, which have shrank from six cuts to only three in the United States and two in the case of the eurozone. MAPFRE Asset Management analyzes the macro situation in its monthly report.
With stock market indexes at record highs and a elevated concentration in some of them, it is esential to take precautions, including diversification and active management, as advocated by MGP in its monthly report.
The ECB decided to keep the three official interest rates unchanged for the fourth consecutive time, and reinforced the message that the debate on lowering rates remains premature.
The upturn in inflation in the United States has attracted investors' attention, but that hasn't slowed down the European Stock Exchanges, explains Alberto Matellán, chief economist at MAPFRE Inversión.
On February 22, the Nikkei 225, the main indicator of the Japanese stock market, finally closed at a new all-time high, above the December 1989 record.
The complexity of emerging markets makes active management the best strategy for investing in this area, which performed poorly in 2023 due to China, but shows promise for the coming years.
Expectations for this year paint a picture where recession could be avoided and risks are more balanced, but it is not free of challenges. In a global financial landscape characterized by volatility in all asset classes and uncertainty, active management in mutual funds has emerged as an essential strategy for weathering the market.