Monthly Video by CIO Florent Bronès: Stock Markets Started a Healthy Consolidation
Florent Bronès, our Chief Investment Officer, presents February's strategy video.
During the first few days of February, the stock markets started a healthy consolidation (as we had expected) following an exceptional overbought situation. We are still neutral on equities in the short term.
We stick to our positive stance on risky assets in the medium term for the same three main reasons as before: the expected rise in corporate profits in 2018 and 2019, small rate increases on the cards, and finally moderate stock market valuations, with the exception of the US market which is expensive compared with historical standards.