Carmignac's Note

Though unlikely to materialise at this point, there is an alternative scenario: stickier inflation accompanied by a broad upward trend in interest rates.

Gergely Majoros calls investors’ attention to their complacency regarding central-bank policy and their skittish attitude towards China.

Investors will have to prepare for gradual withdrawal of the emergency crisis-fighting support measures

The dollar itself is highly sensitive to changes in risk appetite and, due to its global role, it is a particularly complex.

Rising interest rates could usher in a period of instability in the financial markets despite the economic growth forecasts for 2021

The current regime shift in financial markets calls for a cautious approach to both fixed income and equities

Though we remain fairly constructive in the short term, we’re uncomfortable with the consensus among investors as the year gets under way.

It will take a long time for even a robust upturn to repair the colossal damage done to the economy in 2020.

Due to its unique severity, the 2020 shock is likely to have momentous long-range consequences.