Amundi
The latest research and outlooks in the ProAllocate library
- Macro
What the Democratic sweep means for markets
Amundi Investment Institute argues the Democratic Senate sweep constrains but doesn't reverse Trump's policy agenda, easing fiscal and tariff pressure while raising AI/tech regulatory risk. It recommends diversifying into non-US equities, non-tech sectors and intermediate-duration bonds.
- Pensions
Optimal Decumulation: Annuitization, Drawdown, and the Flex-to-Fix Strategy
Amundi Investment Institute researchers model a 'flex-to-fix' retirement decumulation strategy, letting retirees delay converting drawdown portfolios into annuities until a later date rather than choosing immediately between the two.
- Macro
Central banks: action through inaction
Amundi's Monica Defend notes the Fed, ECB and Bank of Japan held rates steady in October, buying time to assess data before December decisions amid AI-driven investment and inflation risks. US GDP beat expectations while eurozone growth stayed modest and equities fell on AI spending concerns.
- Equities
Dividends shine as tech cools
Amundi's Monica Defend notes investors are rotating from AI-driven tech stocks toward dividend payers as markets demand evidence of cash flow rather than capex promises. The weekly round-up also covers mixed US data, slowing eurozone growth and rising Japanese inflation.
- Macro
Cross Asset Investment Strategy - October 2026
Amundi's Monica Defend argues a divided US Congress after the midterms is most likely, producing fiscal gridlock, budget standoffs and continued executive-led policy rather than major legislative change. Amundi also expects markets to withstand 10-year Treasury yields above 5%, provided AI-driven investment keeps delivering earnings growth.
- Macro
US midterm elections: fiscal gridlock on the horizon?
Amundi's Alessia Berardi and colleagues argue divided government remains the most likely US midterm outcome, implying fiscal gridlock rather than policy reversal. They expect AI-driven capex to keep markets resilient even as policy uncertainty and elevated Treasury yields persist.
- Macro
Will markets remain resilient with yields above 5%?
Amundi's Monica Defend and Jean-Baptiste Berthon argue 10-year Treasury yields above 5% reflect AI-driven investment demand and energy constraints rather than a credibility shock, so markets can likely absorb rates if earnings keep pace.
- Macro
Lights and shadows from the IMF
Amundi's Monica Defend highlights persistent inflation risks from AI-driven demand, energy pressures and the IMF's call to rebuild supply-side resilience, as US CPI surprised higher and MSCI threatened to strip Indonesia of EM status.
- Fixed Income
Long-term yields at high levels
Amundi's Monica Defend says global bond yields have hit multi-year highs amid inflation, fiscal and geopolitical pressures, warranting flexible, diversified fixed-income positioning. The weekly roundup covers rising US/UK yields, German growth upgrades and an Indian rate hike.