Asset Management: Monthly Letter – December 2018

Marc-Antoine Collard, Chief Economist, Head of Economic Research, Asset Management, Europe

While there are only a few days left in 2018, it is fair to say that global economic growth has been solid this year. However, it will have been lower than expected, as the desynchronisation of the economic cycle has caught most investors off guard. In addition, global economic activity seems to have peaked at the beginning of the year and has since decelerated, facing headwinds related to the exacerbation of trade tensions and the tightening of financial conditions.

Read the full analysis in the Monthly Letter (PDF 304 KB)

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