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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA Trump presidency could 'on balance' be positive for markets, CIO saysDaniele Antonucci, CIO at Quintet Private Bank, weighs in on the outlook for markets and discusses how they could be impacted if former President Donald Trump wins back the White House.
Persons: Trump, Daniele Antonucci, Donald Trump Organizations: Private Bank
No reason Europe should lag global equities, Quintet CIO says
  + stars: | 2024-05-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNo reason Europe should lag global equities, Quintet CIO saysDaniele Antonucci, chief investment officer at Quintet, discusses the bank's portfolio shift from European bonds to equities.
Persons: Daniele Antonucci Locations: Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailValuations look attractive in Europe and in emerging markets, CIO saysDaniele Antonucci, co-head of investment and chief investment officer at Quintet, says valuations in Europe and in emerging markets look attractive, adding that concerns that the market is growing "frothy" are overstated.
Persons: Daniele Antonucci Locations: Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPandemic-era fiscal stimulus is key reason for current economic resilience: Quintet CIODaniele Antonucci, CIO at Quintet, discusses the outlook for inflation and interest rates, and how markets are reacting.
Persons: Daniele Antonucci
The U.S. Federal Reserve may be forced to defy market expectations by raising interest rates aggressively again later this year if sticky inflation and tight labor markets persist, according to Daniele Antonucci, chief economist and macro strategist at Quintet Private Bank. Annual headline inflation fell to 4.9% in April, its lowest for two years, but remains well above the Fed's 2% target. Meanwhile the labor market remains tight, with jobless claims rising but still at historically low levels. Job growth also hit 253,000 in April despite a slowing economy, while unemployment sat at 3.4%, its joint-lowest level since 1969. Antonucci told CNBC's "Squawk Box Europe" on Friday that Quintet disagrees with the market's pricing of rate cuts later in the year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed may have to tighten more aggressively if inflation stays elevated, economist saysDaniele Antonucci, chief economist and macro strategist at Quintet Private Bank, says the U.S. Federal Reserve may have to tighten monetary policy further unless inflation and economic activity cool significantly.
Latest bank lending data suggests the credit crunch "has already started," according to Morgan Stanley strategists. Here's a selection of recent warnings on the emerging threat from experts including Larry Summers, David Solomon, Mike Wilson, Nouriel Roubini and Bill Gross. Apollo Asset Management's Jim Zelter told Bloomberg "it's not a credit crunch" but rather a "transition period" as markets face higher debt costs. "That credit crunch is going to make the likelihood of a recession — a hard landing — much greater than before. "Whether this qualifies as a full-blown 'credit crunch' remains to be seen.
[1/2] European Central Bank (ECB) President Christine Lagarde speaks during a news conference following the ECB's monetary policy meeting in Frankfurt, Germany March 16, 2023. Reuters Graphics Reuters GraphicsPresident Christine Lagarde noted it was impossible to determine the future rate path amid "completely elevated" uncertainty stemming from market ructions. "Given financial instability risks, there's growing uncertainty on future ECB actions beyond this pre-signalled rate hike," said Daniele Antonucci, chief economist and macro strategist at Quintet Private Bank. Piet Christiansen, chief analyst at Danske Bank, said he was sticking to a call for a 4% peak ECB rate. "Unless this turns into a macroeconomic crisis then we are ripe for a sell-off and a repricing of rate hike expectations," he said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed should be cautious for now but then resume hiking cycle, strategist saysDaniele Antonucci, chief economist and macro strategist at Quintet Private Bank, discusses the Federal Reserve's next moves amid sticky inflation and the SVB collapse.
After being wrong-footed by sudden price rises, the ECB has been raising rates at an unprecedented pace. Inflation has soared since economies reopened after the COVID-19 pandemic, driven by supply bottlenecks and then surging energy costs following Russia's invasion of Ukraine. Justifying Lagarde's pledge for more hikes, the ECB's new projections on Thursday showed inflation above the ECB's 2% target through 2025. [1/2] Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. The ECB also said it currently expected any recession to be "relatively short-lived and shallow" and Lagarde noted that euro unemployment levels were at "rock-bottom".
[1/2] Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. After being wrong-footed by sudden price rises, the ECB has been raising rates at an unprecedented pace. Inflation has soared since economies reopened after the COVID-19 pandemic, driven by supply bottlenecks and then surging energy costs following Russia's invasion of Ukraine. "We judge that interest rates will still have to rise significantly and at a steady pace," Lagarde told a news conference following its rate announcement. Money markets immediately moved to price in a peak deposit rate of just over 3% by July, compared to 2.75% before the meeting.
In this photo illustration, the British pound is seen displayed. Karol Serewis | Lightrocket | Getty ImagesThe British pound on Wednesday morning recovered losses following a Financial Times report that said the Bank of England is privately signaling a willingness to extend its emergency bond-buying program. The Bank of England did not immediately respond to CNBC's request for comment on the FT's report outside of office hours. The pound fell as low as $1.0922 in Asia's morning trade before popping to $1.106 after the FT report was published. If bond purchasing is stopped, "additional measures should be put in place to manage market volatility," it added.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe'll continue to see a hawkish Bank of England, chief economist saysWe'll continue to see a hawkish Bank of England, Chief Economist and Macro Strategist at Quintet Private Bank Daniele Antonucci says.
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