Risk assets have climbed a wall of worry in March, but face headwinds in Q2, explains Vincent Chaigneau, Head of Research at Generali Insurance Asset Management. The Russia-Ukraine conflict remains the biggest uncertainty. A global slowdown is in the offing, complicating the job of central banks now ready to walk their hawkish talk. In this environment, the team sees no rush to chase the risk rally and recommends to reduce the cyclicality of portfolios while adding to Defensives.


Chapter details

• 00:21 Vincent, the first quarter is over. Can you give us a quick recap and set the scene for financial markets in Q2?
• 01:31 How severe will the slowdown be?
• 02:55 Will this slowdown make the central banks, especially the Fed, think twice about a steep tightening path?
• 04:31 Can you pls say a world about the upcoming French election? Is that a market mover?
• 05:22 How to invest in this environment?

 ***
 Disclaimer
This podcast is based on information and opinions which Generali Insurance Asset Management S.p.A. Società di gestione del risparmio considers as reliable. However, no representation or warranty, expressed or implied, is made that such information or opinions are accurate or complete. Generali Investments Partners S.p.A. Società di gestione del risparmio, distributor of this podcast, periodically updating the contents of this podcast, relieves itself from any responsibility concerning mistakes or omissions and shall not be considered responsible in case of possible changes or losses related to the improper use of the information herein provided. Opinions expressed in this podcast represent only the judgment of Generali Insurance Asset Management S.p.A. Società di gestione del risparmio and may be subject to any change without notification. They do not constitute an evaluation of any strategy or any investment in financial instruments. This podcast does not constitute an offer, solicitation or recommendation to buy or to sell financial instruments. Generali Investments Partners S.p.A. Società di gestione del risparmio and Generali Insurance Asset Management S.p.A. Società di gestione del risparmio are not liable for any investment decision based on this podcast. Generali Investments may have taken, and may in the future take, investment decisions for the portfolios it manages which are contrary to the views expressed herein. Any reproduction, total or partial, of this podcast is prohibited without prior consent of Generali Investments Partners S.p.A. Società di gestione del risparmio. Generali Investments is part of the Generali Group which was established in 1831 in Trieste as Assicurazioni Generali Austro-Italiche. Generali Investments is a commercial brand of Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. and Generali Investments Holding S.p.A.