In this podcast, Edmund Shing, Global Chief Investment Officer, discusses the risks to the American stock market from shifting foreign investor flows. Foreign investors have significantly increased their holdings in US financial assets, totaling 10 trillion dollars between 2020 and 2024, with European investors holding 49% of these assets. The S&P 500 is currently expensive at 20x forward PE compared with its long-term average of 16x, while the eurozone and Japan markets are fairly valued or cheap. There is a “double whammy” risk for US equities as foreign investors may reduce exposure due to under-performance, high valuations and a weakening US dollar, potentially leading to further derating and currency losses. We prefer US stock exposure via the S&P 500 equal-weighted index, along with rebalancing towards international stocks in the UK, eurozone, Japan, and possibly China. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Jeremy Fasquelle et Edouard Desbonnets, Senior Investment Strategist, discutent des risques pour le marché boursier américain liés aux flux d'investisseurs étrangers fluctuant Les investisseurs étrangers ont considérablement augmenté leurs avoirs en actifs financiers américains, totalisant 10 trillions de dollars entre 2020 et 2024, les investisseurs européens détenant 49 % de ces actifs. Le S&P 500 est actuellement survalorisé avec un ratio cours/bénéfice (PE) de 20x par rapport à sa moyenne à long terme de 16x, tandis que les marchés de la zone euro et du Japon sont correctement évalués ou bon marché. Nous préférons l'exposition aux actions américaines via l'indice S&P 500 pondéré de manière égale, ainsi qu'un rééquilibrage vers les actions internationales au Royaume-Uni, dans la zone euro, au Japon et possiblement en Chine. Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing, Global Chief Investment Officer at BNP Paribas Wealth Management, discusses the bearish sentiment among US investors and the possible implications for future returns from US stocks.   Performance of the Nasdaq 100 tech heavy index since mid-February What does the AAII Weekly Retail Investor Sentiment Survey reveal? How have contrarian indicators historically coincided with lows in the S&P 500 index? What is the current outlook for the S&P 500 index over the next six months? Hosted by Ausha. See ausha.co/privacy-policy for more information.

Edmund Shing, Chief Investment Officer of BNP Paribas Wealth Management, discusses market corrections. Past market corrections Triggers of the current S&P 500 index correction Are we headed for an economic recession in the US? What are measures of risk in the financial markets showing? Why we think investors should not panic Hosted by Ausha. See ausha.co/privacy-policy for more information.

Edmund Shing, Chief Investment Officer, challenges the conventional wisdom around American exceptionalism. ·         Is the US really so exceptional and can this exceptionalism really continue over the long term? ·         Analysis of US stock performance ·         Should investors look to other regions? ·         The commoditisation of AI: who wins, who loses? Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, our Chief Investment Officer in Asia, Prashant Bhayani shares our latest view on DeepSeek development, addressing the following questions:   ■ Implications of DeepSeek on global technology sector?   ■ Can global investors ignore China equities?   ■ What is the upside from here? Hosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Edmund Shing, Global Chief Investment Officer, dévoile ses convictions pour février 2025   Les droits de douane de Trump Impact des tarifs douaniers sur l'économie mondiale DeepSeek bouleverse le secteur de l'IA Changement de leadership sur le marché avec les banques et l'industrie en tête Principales recommandations pour février 2025 Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing, Global Chief Investment Officer, unveils his convictions for February 2025 Trump's customs duties Impact of tariffs on the global economy DeepSeek disrupts the AI sector Change in market leadership with banks and industrials taking the lead Key convictions for February 2025 Hosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Edouard Desbonnets et Guy Ertz discutent des obligations d'entreprises à haut rendement en euros. Quels ont été les moteurs de leur performance en 2024 ? La performance remarquable de 2024 peut-elle se répéter en 2025 ? Quels sont les risques à venir ? Et comment se comparent-elles aux obligations euro investment grade et aux obligations américaines à haut rendement ? Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edouard Desbonnets and Guy Ertz discuss euro high yield corporate bonds. What drove their performance in 2024? Can the remarkable performance of 2024 be repeated in 2025? What are the risks ahead? And how do they compare with euro investment grade and US high yield bonds? Hosted by Ausha. See ausha.co/privacy-policy for more information.