Beitrag von Thomas Linker

When China’s government laid out its top priorities for 2024 at the National People’s Congress (NPC) in early March, promoting economic growth did not get the top position. Instead, top spot went to a call to develop “new productive forces”, a relatively new slogan that symbolizes China’s high technology drive. Key Takeaways: - The recently concluded National People’s Congress focused on China’s high technology drive as a top priority. - China’s AI focus is less on becoming a global leader in large scale generative AI models and more on practical AI applications. - We see a diverse range of opportunities where companies can benefit both directly and indirectly from China’s sustained investments into digital technologies and AI. By Marco Yau, Portfolio Manager, Stephen Chow, Portfolio Manager and Nan Liu, Product Specialist at @@Allianz Global Investors #EmbracingDisruption #China #AI #technology #opportunity #growth #sustainability #markets #investments #priority

Sell in May and go away …? Almost every year people ask at the end of April or the beginning of May whether they had better reduce their allocation to equities. And they invariably quote the old adage “sell in May and go away”. At first sight, their reasoning is quite understandable, as May has not been an easy month in the past. Read more in our latest “The Week Ahead”. Dr. Hans-Joerg Naumer #markets #growth #volatility #nolanding #rates #inflation #federalreserve #geopolitics #goldilocks #TheWeekAhead

Allianz Global Investors' Sustainability and Stewardship Report 2023 "Shaping sustainability, delivering change": Watch a one-minute animation of the report highlights! Need all the details? -> Webpage: https://bit.ly/49VI947 -> The full report (pdf): https://bit.ly/3QlqBrk -> The snapshot, a three-page summary (pdf): https://bit.ly/3Ul2x96 #Sustainability #Stewardship #SustainabilityAndStewardshipReport #AllianzGI #Impact #Investments #engagement #shaping #change

Divergences The capital markets have been a bit restive during the last few weeks. While there are several obvious reasons for market participants’ nervousness (just think of the conflict in the Middle East), we find that underlying divergent trends may play a role as well. Where do we see such divergences and why? Read more in our latest “The Week Ahead” by @@Allianz Global Investors #TheWeekAhead #capitalmarkets #rates #economy #geopolitics #centralbanks #nolanding #inflation #investments #growth *** DIRECT ACCESS TO THE DOCUMENT (pdf) ***

Fixed Income Forward: April 2024 Markets are now pricing in only one or two 25bp cuts from the Fed in 2024, down from six or seven back in January, while a June rate cut from the ECB is also not guaranteed. By Franck Dixmier, Global CIO Fixed Income and Georgios Georgiou, Global Head Product Specialists Fixed Income at Allianz Global Investors. #FixedIncomeForward #FixedIncome #Bonds #NavigatingRates #rates #markets #centralbanks #terminalrate #economy

Valuation expectations, the current interest rate environment and the different options how to finance the energy transition: Watch Allianz Global Investors' CIO Infrastructure Debt Claus Fintzen outline the main challenges for institutional investors today. #infrastructuredebt #infrastructure #privatemarkets #blendedfinance #investments #expertise #energytransition #rates #valuation

'Give me a break!' The last two years have been highly stressful for the euro area economy. Compared with most other parts of the global economy, the euro area was heavily exposed to the onset of the Ukraine war, the disruption to energy supply chains and had abruptly to change monetary policy course from exceptional stimulus through negative interest rates to restriction. Read more in our latest “The Week Ahead” by @@Allianz Global Investors #TheWeekAhead #economy #monetarypolicy #rates #centralbanks #energy #supplychains #terminalrate #nolanding *** DIRECT ACCESS TO THE DOCUMENT (pdf) ***

Investors’ perspectives on India have begun to change, and the country’s equity markets are becoming more popular. While some may consider this a short-term fad, we believe we have reached a tipping point where India is now too big to ignore. Indeed, we see many long-term aspects at play that render Indian equity markets particularly attractive. Below we list ten reasons why an allocation to Indian equities should be a part of investors’ portfolios. 1. India’s equity market is large and deep 2. Structural factors (demographic trends, digitalization and infrastructure) underpin economic growth 3. A STEM-focused educational system 4. India’s equity markets represent a diverse universe of stocks 5. Corporate governance is improving 6. India’s markets are highly liquid 7. India’s equity markets don’t move in lockstep with others 8. Low proportion of State-Owned Enterprises 9. Local investors are becoming stronger and stickier participants 10. Foreign investors are increasingly attracted to India All the details: https://bit.ly/3w3JzM5 By Anand Gupta, Portfolio Manager and Sarah Lien, Product Specialist at Allianz Global Investors #EmbracingDisruption #Asia #India #Equities For fund distributors and professional investors only. Investing involves risk. *** DIRECT ACCESS TO THE DOCUMENT (pdf) ***

On the eve of a historic cut in interest rates, US developments are more key than usual for global markets. Based on the latest data, we think the US economy is heading for a soft landing – the holy grail for central banks, where they dampen inflation without tipping the economy into recession. Now is the time to position for selective opportunities. Have a look on Allianz Global Investors' House View Q2 2024: "Turning the corner" on our global webpage: https://bit.ly/3UgaT2X Or download it as a PDF here: https://bit.ly/3Q31mK7 This house view reflects AllianzGI’s investment leadership’s views going into Q2. For fund distributors and/or professional investors only. Past performance does not predict future returns. #Outlook #Update #HouseView #CapitalMarkets #investments #centralbanks #rates #markets #softlanding #nolanding

“Inflation” again and again Overall, next week is not going to be easy. While inflation concerns are increasing, the technical situation is not completely rosy either. With the relative strength indicators pointing to an overbought situation on many large markets, we may see a reversal in sentiment soIf excess liquidity declines, the “flight” into riskier asset classes will abate as well. on. Moreover, the decline in excess liquidity is likely to dampen the market uptrend, above all the risk appetite. Read more in our latest “The Week Ahead”. Dr. Hans-Joerg Naumer #TheWeekAhead #economy #sentiment #excessliquidity #inflation #labourmarket #growth #euroarea #US #gdp