Allianz Global Wealth Report 2026

Fed bazooka: A long shot

In the six weeks to April 15th, the Fed’s balance sheet has increased by an eye-catching USD 2.1 trillion to USD 6.3 trillion. However, there is still little evidence that this massive injection of liquidity into the financial system has managed to reach the real economy.

Exiting the lockdowns: a tale of four stories

As more countries announce future end dates for lockdowns (France, the UK, Germany), already start curbing them (China, Austria and now Italy and Spain) all of them are outlining their plans to gradually restart activity. Yet one should keep in mind that not all countries are in the same boat; each faces different risks on the eve of deconfining.   

Oil: The floods

We expect significant volatility around our central Brent crude price forecast of USD 41/bbl as an unprecedented inventory build battles with a hope-driven news flow.