Markets are in a constant state of change. Yields are low, inflation is returning and regulatory complexity continues to expand. At the same time technology is rapidly advancing and people are living longer than ever before, shifting global demographics significantly. This environment has fostered a greater focus on corporate transparency and responsibility, and ultimately is changing how we work, invest and measure risk.
Taking an active, long-term approach, AXA Investment Managers works with its clients today to provide the solutions they need to help secure a better tomorrow for their investments, while creating a positive change for the world in which we all live.
By Clément Dupire, Senior Multi-Asset Portfolio Manager, BNP Paribas Asset Management Citadel’s acquisition of Situational Awareness’s artificial intelligence-focused portfolio in late July was one of the likely catalysts for the summer’s AI and momentum market correction. Find out more
By James McAlevey, Head of Global Aggregate and Absolute Return and Vicky Browne, Investment Specialist at BNP Paribas Asset Management Fixed income investors have faced considerable volatility in markets in 2026, driven by a combination of geopolitical tensions, rising inflation and higher levels of issuance. Against this backdrop, we believe there is potential value in […]
By Jack Stephenson, US Fixed Income Investment Specialist The last few months have not been straightforward for fixed income markets. As oil prices surged amid the Middle East conflict and inflation expectations rose, markets repriced the potential path of monetary policy. Even so, the direct impact on US high yield returns has been relatively limited, […]
By Daniel Morris, Chief Market Strategist US exceptionalism was supposed to be last year’s theme. 2026 was all about balance and broadening of growth across countries. That vision has not quite played out. From an economic point of view, the US continues to outpace other major economies. The huge gap in artificial intelligence capital expenditure […]
UCITS ETF inflows surged to a new monthly record in July, breaking the €50 billion barrier for the first time. Equity ETF inflows alone totalled €37.8 billion, and were dominated by global (+€17.8 billion) and US (+€11.6 billion) strategies. Fixed income continued its strong run, adding €11.9 billion over the month. For the full story, […]
By Daniel Morris, Chief Market Strategist; Alessandro Tentori, Chief Investment Officer, Europe; Chi Lo, Senior Market Strategist, Asia Pacific Tilting the balance Equity markets have been balancing two opposing factors. The positive impulse has come from a very strong earnings season. According to Bloomberg data, through to the end of July, reported earnings for […]
By Andrew Etherington, Head of Multi-Asset Total Return, AXA IM Core, part of BNP Paribas AM Find out more
By Chris Iggo, Chair of the Investment Institute and CIO for AXA IM Core, BNP Paribas Asset Management While geopolitical tensions continue to dominate global headlines, one topic remains at the forefront of investor discourse: the technology sector – and more specifically, artificial intelligence and its long-term potential. The subject is ubiquitous, as most agree […]
Watch Laurent Clavel discuss why he is confident that investors should potentially see positive returns in the second half of 2026.
The second quarter presented significant market dynamics shaped by geopolitical concerns and major central banks focused firmly on inflation. Watch Olivier de Larouzière discuss his outlook for fixed income and where he sees potential opportunities.
Watch our Mid-Year Investment Outlook video with Daniel Morris, Chief Market Strategist, and Chris Iggo, Chief Investment Officer, AXA IM Core (part of BNP Paribas Asset Management), to see their analysis of the fundamentals driving the global economy, fixed income and equity markets.
Despite trebling in size since 2020, fixed income ETF (exchange-traded fund) assets remain under-bought in Europe.
Artificial intelligence has moved from experimentation to large-scale deployment and a tangible revenue driver across an ever-broadening range of industries.
The geopolitical landscape has undergone a significant shift in recent years, with global cooperation and multilateralism giving way to a more fragmented world.
Oil prices dropped far more quickly than many analysts expected following the announcement of the Memorandum of Understanding between the US and Iran.
Increased US share issuance is a sign of equity market exuberance, with investors focused on the exceptional outlook for earnings.
The US high yield market has weathered recent market turbulence well, but selectivity is becoming increasingly paramount.
SpaceX’s initial public offering saw the company valued at about $1.8 trillion, which propelled it into the world’s top 10 firms by market capitalisation.
UK investors face another change in political leadership. This could also mean a shift in economic policy with a focus on stimulating growth and addressing the country’s regional inequalities.
In today’s global artificial intelligence (AI) industry, the US leads in frontier models and accelerator design, Taiwan manufactures the most advanced chips, South Korea supplies high-bandwidth memory, and investors crowd into the most obvious winners.
The global macroeconomic outlook was dominated by two themes in the first half of 2026: the Middle East conflict and the continued boom in artificial intelligence-related spending.
Recent volatility in global technology shares has been partly caused by better-than-expected US economic data which led to market expectations for higher fed funds rates in the future.
As Europe aims to grow its economy while safeguarding its own interests, it is placing greater focus – and investment – in areas ranging from defence and manufacturing to energy, food and health. There is one sector, however, that stands out as the cornerstone of European strategic autonomy: technology.
While there may be some areas of excessive optimism, infrastructure spending has generally been in line with demand and mostly funded from operating cash flows. AI products and services continue to be monetized rapidly.
BNP Paribas Asset Management portfolio managers, Pamela Hegarty and Derek Glynn, answer key questions regarding the future of artificial intelligence and investing in the technology sector.
Investors can help determine whether artificial intelligence becomes a net positive for societies and the environment. How they allocate capital and engage with companies and policymakers can play a vital role in the eventual impact of AI.
While geopolitical tensions continue to dominate global headlines, one topic remains at the forefront of investor discourse: the technology sector – and more specifically, artificial intelligence and its long-term potential.
Taking some profit, back to a modest overweight on equities – We moved to our maximum overweight exposure in global equities in early April, once both Iran and the US appeared willing to negotiate a Middle East peace deal. Following a strong US earnings season we have progressively reduced our exposure.
Fixed income performance has been inversely correlated to duration since the start of the Middle East conflict. The best performers have been those with limited duration, high income levels, or with inflation exposure.
The Middle East conflict has triggered a surge in energy and other prices, creating a second inflation shock in four years. Listen to how the short duration inflation-linked bond strategy can be effective in offering protection and a real return – not just a nominal one – in a slowing growth, rising inflation environment.
US small-cap stocks had a strong start to 2026 with the Russell 2000 index significantly outperforming the S&P 500 large cap. Geoff Dailey, BNP Paribas Head of US Equities, tells Daniel Morris, Chief Market Strategist, that the main driver was the artificial intelligence theme.
Day-to-day price movements in markets remain dominated by what is happening around the Middle East conflict. But then one must layer on top of that the overwhelming evidence of the artificial intelligence build-out. Stock markets in Taiwan, Korea, Japan, and the US reached new highs this week.
From a financial market perspective, the Iran war closely resembles previous geopolitical shocks: a sharp but short?lived sell?off followed by a rapid and near?complete recovery in risk asset prices.
For all the shocks following the inauguration of Donald Trump as US president, the word most often used when discussing the economic outlook has been ‘resilience’.
Following a prolonged period of being under the radar, Europe is increasingly coming back into global investors’ focus.
While much of the attention around AI has centred on equities, the technology is increasingly impacting bond markets through new issuance, business model disruption, and enhanced investment processes.
BNP Paribas' Laurent Clavel discusses the effects of current geopolitical volatility on markets and how diversifying across asset classes could offer investors better risk-adjusted returns.
Some investors were puzzled by the sharp drop in oil prices a few weeks ago based on a few – but at times contradictory – social media posts from President Donald Trump (which in any event were then often contradicted by the Iranians).
Where now for the global economy in 2026? How are central banks responding to persistent inflationary pressures and shifting growth dynamics? What do rising bond yields mean for fixed income investors? And can equities continue to show resilience despite geopolitical uncertainty?
Short duration high yield bonds may potentially help investors navigate periods of market volatility while delivering a stable income stream.
Is the Iran war over? The answer, at least as far as the markets are concerned, depends on which index you look at. To judge by the level of equity indices and credit spreads, the answer seems to be clearly “yes”.
The first quarter of 2026 has been dominated by a sharp escalation in geopolitical risk, fundamentally altering the macroeconomic backdrop since the end of 2025.
The crisis that we’re experiencing with the conflict in the Middle East is only going to reinforce the fact that climate will remain our clients’ and our top priority,” Jane Wadia, Head of Sustainability at AXA IM Core, tells Andy Craig, Co-Head of the Investment Insights Centre.
Equity markets continue to swing in reaction to US President Donald Trump’s latest social media post or interview – going one way if the news is of positive progress in negotiations (albeit denied by Iran), or the other when an escalation of the conflict seems imminent.
A permanent end to the Middle East conflict, resulting from the current ceasefire, will mean the macroeconomic outlook has been shaken but not totally destabilised.
These are the core investment decisions from this month’s report on BNP Paribas Asset Management multi-asset investment views.
The Middle East conflict and the resulting oil price surge have left the global economy – and investors – on a knife-edge. If the conflict is short-lived, the cross-asset market reaction would be to reverse the recent fall in valuations…
Since the outbreak of the Iran conflict, market losses have been limited, at least so far. But it might not take much in terms of adverse developments in the Middle East to wipe out any remaining positive year-to-date returns.
The war in Iran continues to be the most visible factor driving global equity market returns. For example, the MSCI equity index for oil exporter Norway has gained over 6% since 27 February, while Thailand, an oil importer, has seen its market fall by nearly the same amount.
As in 2022, the energy shock will affect emerging and developing economies. Today, as in the past, this shock is a negative-sum game between importing and exporting countries.
The Middle East conflict, and subsequent energy shock, risks pushing global inflation significantly higher in the coming months. That is certainly the historical lesson from other periods of conflict.
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