Amundi
Macro, cross-asset and thematic research from the Amundi Investment Institute.
France11 articlesLast published 15 Jun 2026
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Research
AmundiMulti-Asset
ECB raises rates after almost three years
Amundi's weekly market note covers the ECB's June 2026 25bp rate hike, driven by Middle East conflict-related energy price shocks pushing eurozone inflation above target, with the bank offering no forward guidance and remaining data-dependent. Amundi expects one additional hike this year but does not anticipate a full tightening cycle, given fragile economic activity and uncertainty over the energy shock's duration.
15 Jun 2026
AmundiESG
ESG Thema #24 - Assessing physical climate risks for sovereigns - Focus on Asia
This Amundi thematic paper assesses physical climate risks for Asian sovereign issuers using IPCC-based scenarios and Verisk's Climate Hazard Index, identifying South and South-East Asia (notably Singapore, Thailand, India, Indonesia, and Sri Lanka) as most exposed by 2050–2080. The paper quantifies potential GDP losses of 10–16% by 2050 under NGFS scenarios and highlights fiscal constraints that could impair adaptation capacity and sovereign debt sustainability in countries such as the Maldives, Sri Lanka, India, and Pakistan.
10 Jun 2026
AmundiESG
ESG Thema #23 - Digital Transition Series - The Social Dimensions of Responsible AI Deployment
This Amundi thematic paper examines the social risks arising across the AI value chain—including workforce displacement, algorithmic management, downstream discrimination, and child safety failures—arguing that deployment-stage companies represent the largest source of portfolio-level social risk for investors. It identifies a widening governance gap between corporate AI commitments and practical implementation, and calls on institutional investors to prioritise stewardship focused on evidence of a governed AI lifecycle with meaningful human oversight.
10 Jun 2026
AmundiESG
A renewed imperative for green transition
Amundi's weekly market note argues that the ongoing energy crisis reinforces the strategic case for accelerating the green transition, with the European Commission announcing additional fiscal flexibility for energy security investments on 3 June 2026. The piece also covers macro developments including resilient US economic data, surging Euro Area energy inflation at 10.9%, and strong Japanese wage growth, alongside a brief review of weekly equity and bond market moves.
8 Jun 2026
AmundiMulti-Asset
The lifecycle remix: glidepaths, personalisation and private assets
This Amundi thematic paper examines how lifecycle investing is evolving through more sophisticated glidepath design, greater individual personalisation, and the expanding role of private assets in retirement portfolios. It presents a four-step framework for glidepath construction—covering context, lifecycle assumptions, multi-period optimisation, and scenario testing—alongside a case study showing an optimised glidepath outperforming a constant 50/50 allocation in both median outcomes and tail-risk reduction.
8 Jun 2026
AmundiMulti-Asset
Bond Market Volatility, Yield Curves & Equity Resilience - Investment views by Outerblue Convictions
In this Amundi Outerblue Convictions podcast, Monica Defend (Head of the Amundi Investment Institute) discusses the impact of Middle East geopolitical tensions and Strait of Hormuz uncertainty on global bond yields, yield curve dynamics, and equity resilience. Key views include a medium-term preference for yield curve steepening, revised ECB and Bank of England rate hike expectations, extended Fed on-hold through Q2 2027, and cautious near-term equity outlook as higher rates could pressure multiples and debt-service costs.
2 Jun 2026
AmundiEquities
Equities hit new highs on tech rally
Amundi's weekly market directions note argues that the AI-driven equity rally is broadening beyond US semiconductors to Asian technology markets, with constructive views on Asian tech amid strong earnings growth. The piece recommends diversification across global technology segments — spanning US cloud, Chinese scale players, Korean memory chips, and European AI infrastructure — to improve portfolio resilience.
1 Jun 2026
AmundiMulti-Asset
Global Investment Views - June 2026
Amundi's June 2026 monthly house view outlines a shift in base case from a benign slowdown to "managed disruption," driven by Middle East conflict disrupting the Strait of Hormuz, renewed inflationary pressures, and a more hawkish ECB and BoE. The firm maintains a cautious risk-on stance with enhanced hedges, favouring selective quality equities, short-to-medium European duration, US IG credit, and EM debt in Latin America, while downgrading US duration and flagging second-round inflation risks for energy-importing economies.
29 May 2026
AmundiFixed Income
Rising yields, rising uncertainty
Amundi's weekly market directions note examines the sharp rise in global bond yields, with US 30-year yields reaching their highest level since 2007 at 5.19%, driven by geopolitical uncertainty from the Middle East conflict, inflation pressures, and fiscal deficit concerns. The piece favours short- and medium-maturity bonds over long-end exposure, while also reviewing mixed PMI signals across the US and Eurozone and stronger-than-expected Japanese GDP growth.
26 May 2026
AmundiMulti-Asset
Rethinking global diversification
Amundi Investment Institute argues that a new geo-economic regime—driven by geopolitical rupture, fiscal dominance, and strategic autonomy—requires investors to reassess the overweight in US assets across equities, Treasuries, and the dollar. The paper presents five-year and ten-year capital market assumptions advocating broader diversification by region, currency, sector, and real-economy exposure, with a greater role for Europe, Asia, and emerging markets.
22 May 2026
AmundiMulti-Asset
Outerblue Talks Research - Adapting to Ruptures - Diversification is the Key to this New Era
In this 44-minute podcast episode, Amundi's Monica Defend and John O'Toole discuss the firm's 2026 Capital Markets Assumptions report, arguing that structural ruptures—geopolitical fragmentation, AI, demographics, strategic autonomy, and fiscal dominance—are reshaping the investment regime rather than representing temporary shocks. They outline expected returns across asset classes, noting bonds are more attractive due to higher yields, equities offer 6.5–7.5% long-term returns with regional dispersion, credit is less compelling on tighter spreads, and gold and private markets are becoming more strategically important.
20 May 2026