BNP Paribas Asset Management
The latest research and outlooks in the ProAllocate library
- ETFs
ETF Watch – November 2026
BNP Paribas AM reports UCITS ETFs gathered €41 billion in October, led by €27.2 billion into equities, while fixed income ETFs added €13.6 billion, putting 2026 on track for a record year with YTD flows topping €92 billion.
- Macro
View from the markets: Financial market implications of the US midterm elections
BNP Paribas Asset Management's Daniel Morris argues that US election outcomes have limited market impact unless one party controls the presidency and Congress entirely. He maintains a constructive equity outlook despite a tech sell-off tied to data-centre buildout concerns.
- Fixed Income
Corporate bonds: Finding alpha in an efficient market
BNP Paribas Asset Management's Charles Cresteil and Anthony Desrousseaux explain how active managers exploit bond-level mispricing, issuer comparisons and market dislocations to generate alpha without duration or credit beta bets. A systematic multi-factor process combining valuation, quality, momentum and technical signals aims for modest, repeatable outperformance while controlling tracking error.
- Fixed Income
Monthly Market Views: The tech divide, rising bond yields and China’s industrial renaissance
BNP Paribas Asset Management argues equity markets have split into tech and non-tech regimes with diverging bond-yield sensitivities, while structural oversupply and hawkish central banks are reshaping government bond markets. It also highlights AI-driven industrial investment, China's potential disruptive role, and tactical opportunities in euro credit and inflation-linked bonds.
- Macro
Take Two: Central banks on hold
Central banks in the US, eurozone and Japan held interest rates steady despite persistent inflation, while US GDP growth accelerated and corporate earnings beat expectations. The roundup also marks the 40th anniversary of London's
- Equities
View from the markets: The earnings season has been good, but is it good enough?
Daniel Morris notes Q3 earnings grew strongly but surprised less than usual, dragged down by tech and EM tech misses, while broader sector growth stayed robust. He argues medium-term earnings outlooks remain supportive, contingent on continued AI adoption.
- Sustainability
Sustainability as a driver of long-term investment outcomes
BNP Paribas Asset Management's Jane Ambachtsheer outlines the firm's updated Global Sustainability Strategy through 2030, embedding ESG expertise across asset classes post-AXA IM merger. The approach aims to integrate sustainability with financial analysis to deliver tailored client outcomes, including net zero and SDG alignment.
- Portfolio Construction
Multi-Asset Investment Views: “Will of the people”
BNP Paribas Asset Management's Laurent Clavel maintains a moderate overweight in global equities and commodities while staying underweight sovereign and investment-grade bonds. He argues resilient growth and earnings outweigh political risks from France, Brazil and US midterm elections.
- Emerging Markets
Emerging Market Debt: Navigating the Disconnect
Robeco's Alaa Bushehri argues emerging market debt offers resilient fundamentals and attractive yields despite dollar strength and rising Treasury yields, favouring selective, active positioning in both hard and local currency bonds over broad directional bets.