Encouraging economic data as well as disinflation provided tailwinds for both U.S. and European #equities in the second quarter of 2024, though #market breadth narrowed, with most gains driven by the Magnificent 7 or AI-beneficiaries. With cuts to #interestrates occurring/on the horizon on both sides of the Atlantic, dynamics for #bonds and #stocks already are and should continue to change rapidly.
Transatlantique Private Wealth
Investment Management
New York, NY 328 followers
We specialize in understanding the specific needs and objectives of U.S. persons with a French-American footprint.
About us
Transatlantique Private Wealth is a Subsidiary of Banque Transatlantique (owned by Credit Mutuel Alliance Federale). For over 130 Year, Banque Transatlantique has offered clients a global yet personalized approach in Private Banking, with a particular understanding of the complex aspects involved in CROSS-BORDER CHALLENGES. Based in the United States, Transatlantique Private Wealth is an investment advisor registered with the United States Securities and Exchange Commission. We specialize in understanding the specific needs and objectives of U.S Persons with a French-American footprint.
- Industry
- Investment Management
- Company size
- 2-10 employees
- Headquarters
- New York, NY
- Founded
- 2013
Updates
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Healthy fourth quarter earnings and economic data lifted U.S. equity #markets in the first quarter of 2024, with continued improvement in market breadth relative to 2023. However, stubborn #inflation has significantly reduced rate cut expectations for 2024, adding to near-term uncertainty for #equities. In this context, we continue to observe high-quality corporate #bonds with attractive yields trading at discounts to par. In Europe, disinflation has been more tangible, with cuts to #interestrates expected as soon as June, but economic growth has not been as dynamic as in the U.S. With first quarter earnings season in full swing, we expect inflation/central bank action will continue to be the dominant driver of markets, though we also remain vigilant of #geopolitical developments.
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Investor sentiment improved markedly in the fourth quarter of 2023, driven by rate cut and soft landing expectations in 2024. In this context, yields on #bonds fell, while #equities experienced broader strength following the dominance of the Magnificent Seven throughout most of the year. Given the more favorable macroeconomic backdrop, we are particularly focused on the resilience of Q4 earnings as well as ongoing geopolitical risks at the start of 2024.
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A late summer shift in sentiment given higher-for-longer #interestrates caused #equities and #bonds to decline in the third quarter of 2023. As central banks continue to combat #inflation, we are also cognizant of increasing #geopolitical risk to #markets in Q4 and beyond.