About This Episode

According to my guest today, the lagging effects of central bank tightening will lead to a further deceleration in growth, a mild U.S. recession, anemic growth in Europe, but more resilience in emerging markets. Past episodes of high U.S. inflation suggest it will take about two years to bring core inflation down by half from its peak level. Equity valuations are stretched, particularly in big tech. Monetary authorities have decreased their support. And governments have probably already reached the limits of the fiscal stimulus they can provide.

Given those challenges, you will learn about the opportunities for investors across a range of asset classes. There are quality U.S. and international stocks that trade at reasonable valuations and stand to benefit from important technology and secular trends. The expectation of lower interest rates in the future is creating opportunities in fixed income markets. That is in longer duration and in niche parts of the market like cat bonds and agencies.

About Our Guest

Marco Pirondini is chief investment officer, U.S., at Amundi US.

He has been with Amundi US, and the former Pioneer Investments, which was acquired by Amundi, for the past 30 years. In his role as chief investment officer, Marco assumes the oversight of the investment organization at Amundi US, including equity, fixed income and trading. He is chairman of the US investment committee and a member of the US executive committee and Americas management committee. He also serves on Amundi’s global investment committee. From 2004 until 2010, Marco was global chief investment officer for Pioneer Investments. He also served as head of global equity research and head of European equity research at Pioneer. As US CIO, Marco remains lead portfolio manager of several global equity and multi-asset portfolios distributed to clients and shareholders in the US and International markets.

Show Notes

• Amundi Website- https://www.amundi.com/usinvestors
• Marco’s LinkedIn- https://www.linkedin.com/in/marco-pirondini-97b89026b/
• Amundi US site- https://www.amundi.com/usinvestors/Insights/Research-Insights

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