#Market Strategy — 15.10.2019

October 2019: Investment Strategy Update

Florent Bronès

We abandon our negative view on equities in the short term. The stock markets have been in a consolidation phase for two years (except for the trough in the last quarter of 2018) as fundamentals have been deteriorating: less economic growth expected, profit increases revised down, political risks still present. The markets are increasingly pricing in this deterioration and the downside risks are diminished in our opinion.

 

Florent Brones

Chief Investment Officer
BNP Paribas Wealth Management