Allianz Research

Volle Kraft voraus:
Global Wealth Report 2025

Eurozone: Double dip and structural weaknesses

As Covid19-related restrictions are retightened, we expect key European economies to contract again in the final quarter of 2020. We forecast GDP to drop by -1.3% q/q in Spain, -1.1% q/q in France and–1.0% q/q in the Netherlands. 

 

EU climate policy goes global

A CBAM is a game-changer for global climate policy. The need for financing the pandemic recovery package has jump-started the process of introducing an EU Carbon Border Adjustment Mechanism (CBAM).

 

Big Tech and the S&P 500: Look beneath the surface

 

Complementary indicators point to increasing concentration in the S&P 500 market rally: A five-year-long outperformance of the (capitalization-weighted) S&P 500 relative to the equally-weighted S&P 500 and a six-month-long divergence between the (capitalization-weighted) S&P 500 and the ratio of rising-to-falling stocks as well as a fall in entropy, a better metrics of concentration within the S&P 500