Osservatorio | May 2024

Falling inflation is the north star guiding financial markets today. Along with strengthening global growth.

Osservatorio | May 2024

At a glance:

  • Slowing labour costs, more stable commodity costs and the fading effects of lockdowns point to cooling consumer prices.
  • Figures for the first months of 2024 have been distorted by companies' new price adjustment policies.
  • The cost-of-living temperature will remain higher than in the decade before the pandemic, when risks were skewed towards deflation.
  • There are increasing signs of consolidation in the international recovery, thanks to China and the Eurozone.
  • Interest rates will fall, more on the short side than on the long side.
  • What are the portfolio choices and why active equity investment management is adding value again.
  • Insights from the recent Ceresio Investors manager research trip to Asia.