In this June 2025 outlook, Laurent Clavel, Head of Global Multi Asset at AXA IM, outlines positioning strategies in response to political risk, interest rate volatility, and regional growth divergence.
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US policy uncertainty under a second Trump administration is four times higher than in his first term, weighing on household and corporate confidence.
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Despite Q1 contraction, the US economy shows resilience, with equities rebounding and GDP tracking above potential growth.
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AXA IM remains modestly overweight developed equities, favors quality large caps, and prefers German sovereign bonds over US Treasuries amid fiscal concerns.
Explore the full report to understand how diversified multi-asset portfolios can balance risk and opportunity in today’s fragmented macro landscape.
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