Press releases

The year 2024 is ending on a positive note, both in the bond and equity markets, despite the economic divergences between the United States and the rest of the world, as well as a persistently high floor on interest rates.2025 is likely to present a complex landscape, marked by uncertainty stemming from the outcome of the US elections, and heightened inflationary and budgetary risks contributing to volatility in long-term rates, both in the United States and in Europe. Against this unpredictable backdrop, Axel Botte, Head of Market Strategy, Alexandre Caminade, Head of Core Fixed Income and Liquid Alternatives, Philippe Berthelot, Head of Credit and Money Markets, and Frédéric Leguay, Head of Insurance Equity Management, present Ostrum AM's outlook for the economy and markets, and the choices they believe should be made for 2025 to take advantage of the current environment. 

After a favourable year for the financial markets in 2023 despite a troubled international context, 2024 should see a change of era, according to the experts at Ostrum AM, an affiliate of Natixis Investment Managers. Investors will have to adapt to a new market environment now in the hands of lenders, with interest rates permanently above 2%. 2024 should be a year rich in investment opportunities, served by active management of risks that are a priori contained but growing: duration risks, default risks for governments and companies alike, and volatility risks, not to mention the growing risks associated with climate change. Against this demanding backdrop, Axel Botte, Head of Market Strategy, Alexandre Caminade, Head of Core Fixed Income and Liquid Alternatives, Philippe Berthelot, Head of Crédit and Money Markets, Frédéric Leguay, Head of Equity Insurance, and Emmanuel Bourdeix, CIO for Quantitative investment management, present Ostrum AM’s outlook for the economy and markets and outline the key investment strategies to generate performance in 2024.

After a particularly turbulent year, the experts at Ostrum Asset Management (Ostrum AM), an affiliate of Natixis Investment Managers, expect a moderate recession in 2023. However, investors could take advantage of investment opportunities and interesting entry points in the various markets, particularly in fixed income and credit. As the energy crisis continues in Europe, the greatest caution will be required in stock selection. Philippe Waechter, Head of Economic Research, Stéphane Déo, Head of Market Strategy, Alexandre Caminade, Head of Core Fixed Income and Liquid Alternatives, Philippe Berthelot, Head of Money Market and Credit Management, and Frédéric Leguay, Head of Equity Management, present their views on the economy, the markets and the investment strategies that should be favoured to find value in 2023.

With inflation rising at the beginning of the year at a level not seen for more than a quarter of a century, central banks are facing a dilemma and are being forced to raise rates faster than expected. Uncertainty about the impact of rate hikes, compounded by the current geopolitical situation with the conflict between Russia and Ukraine, is causing investors to fear a possible recession. Asset managers are now obliged to adapt their investment strategies in order to be able to offer advantageous solutions that allow investors to protect themselves from inflation or to take advantage of the current environment. 

After a difficult year in 2020 and in the wake of the 2021 economic crisis, Ostrum Asset Management (Ostrum AM), an affiliate of Natixis Investment Managers, anticipates a return to the pre-crisis trend in 2022. However, markets are still expected to be affected by many risk factors and uncertainties. With inflation expectations on the rise, Philippe Waechter, Head of the Economic Research department, Stéphane Déo, Head of Market Strategy and Ibrahima Kobar, Chief Investment Officer at Ostrum AM present their views on the different sectors and asset classes.

Experts at Ostrum Asset Management – an affiliate of Natixis Investment Managers – expect the clouds to lift and risk to potentially ease in 2021 after 2020 was dominated by the Covid-19 crisis. However, challenges still remain, with growth set to vary considerably from one region to another as countries and zones have responded very differently to the crisis. Interest rates look set to edge up slightly, although remain low, and here at Ostrum AM we have reviewed our asset allocation to draw on the equity rally that kicked off at the end of 2020.

2018 was a year packed full of macroeconomic twists and turns, such as the agonizing Brexit negotiations and a severely weakened Italian economy, Natixis Investment Managers’ affiliate Ostrum Asset Management believes that these risks are set to continue through into 2019. If the European Central Bank sticks to monetary policy accommodation and does not hike rates next year, the equity markets should see a transitory downtrend in the first half.