{"id":224753,"date":"2024-03-05T19:33:55","date_gmt":"2024-03-05T19:33:55","guid":{"rendered":"https:\/\/bm.dev.synology.me\/?p=224753"},"modified":"2024-03-05T19:33:55","modified_gmt":"2024-03-05T19:33:55","slug":"cum-investim-anul-acesta-amundi-cel-mai-mare-administrator-european-de-active-vedem-potential-de-crestere-pe-titluri-de-stat-si-obligatiuni-corporative-din-statele-unite","status":"publish","type":"post","link":"https:\/\/bm.dev.synology.me\/?p=224753","title":{"rendered":"Cum investim anul acesta?  Amundi, cel mai mare administrator european de active: Vedem poten\u0163ial de cre\u015ftere pe titluri de stat \u015fi obliga\u0163iuni corporative din Statele Unite"},"content":{"rendered":"<p>\n<strong>\u2666<\/strong> De luat \u00een vizor \u015fi bondurile corporate din Europa, dar cele cu un nivel mai ridicat de siguran\u0163\u0103&nbsp;<strong>\u2666<\/strong> \u201ePrivind \u00een viitor, situa\u0163ia nu este roz. Ne a\u015ftept\u0103m \u00een continuare la o \u00eencetinire a economiei americane\u201d<\/p>\n<p>\n&nbsp;<\/p>\n<p>\nVorbind despre poten\u0163ialele oportunit\u0103\u0163i de investi\u0163ii din 2024, Mihai Constantinescu, head of sales &nbsp;\u00een cadrul&nbsp; Amundi Asset Management, cel mai mare administrator de investi\u0163ii din Europa, nume\u015fte instrumentele cu venit fix din Statele Unite \u015fi Europa, altele dec\u00e2t depozitele bancare.<\/p>\n<p>\n\u201eVedem poten\u0163ial de cre\u015ftere \u00een zona de titluri de stat americane \u015fi obliga\u0163iuni corporative americane. Ne a\u015ftept\u0103m ca dob\u00e2nda de referin\u0163\u0103 din SUA s\u0103 \u00eenceap\u0103 s\u0103 scad\u0103 din mai-iunie. P\u00e2n\u0103 la finalul anului, ne a\u015ftept\u0103m s\u0103 avem o sc\u0103dere de 125 de puncte\u201d, explic\u0103 Mihai Constantinescu.<\/p>\n<p>\nInvitat la emisiunea ZF Deschiderea de Ast\u0103zi, reprezentantul Amundi \u2013 cu active sub gestiune de peste 2.000 de miliarde de euro \u2013 a afirmat c\u0103 administratorul de investi\u0163ii adopt\u0103 o pozi\u0163ie neutr\u0103 spre negativ\u0103 \u00een ceea ce prive\u015fte ac\u0163iunile americane \u00een 2024.<\/p>\n<p>\n\u201eUnele dintre ele chiar par foarte scumpe, iar a\u015ftept\u0103rile de venituri sunt prea optimiste din punctul nostru de vedere. Vedem un poten\u0163ial relativ bun de cre\u015ftere pe ac\u0163iuni americane din zona value, care tind s\u0103 performeze mai bine c\u00e2nd lucrurile se precipit\u0103\u201d, continu\u0103 analistul.<\/p>\n<p>\nAnul acesta, indicii americani Dow Jones Industrial Average, S&#038;P 500 \u015fi Nasdaq 100 afi\u015feaz\u0103 cre\u015fteri de 3%, 8%, respectiv 9%, \u00eentr-o aparent\u0103 continuare a trendului de apreciere de anul trecut. Prin compara\u0163ie, indicele interna\u0163ional MSCI All-Country afi\u015feaz\u0103 un avans de 5%. \u00cen Europa, Stoxx 600 este pe plus cu circa 4%.<\/p>\n<p>\n\u201eMai vedem poten\u0163ial pe obliga\u0163iunile corporative europene, dar zona mai safe. Ne a\u015ftept\u0103m ca Banca Central\u0103 European\u0103 s\u0103 \u00eenceap\u0103 s\u0103 scad\u0103 dob\u00e2nda de politic\u0103 monetar\u0103 tot din mai-iunie \u015fi la final de an s\u0103 fie mai mic\u0103 tot cu 125 de puncte. Vedem zona de ac\u0163iuni \u015fi obliga\u0163iuni din pie\u0163e emergente mari, precum India, Brazilia, Africa de Sud, Vietnam, Indonezia.\u201d<\/p>\n<p>\nAmundi se a\u015fteapt\u0103 ca 2024 s\u0103 ofere, \u00een general, dinamici pozitive de-a lungul pie\u0163elor de capital, dar nu la nivelul celor de anul trecut. Interesant este c\u0103 raport\u0103rile companiilor listate sunt \u00een continuare bune, \u00een pofida deterior\u0103rii peisajului economic, \u00eencadr\u00e2ndu-se uneori peste estim\u0103rile participan\u0163ilor la pia\u0163\u0103, adaug\u0103 Mihai Constantinescu.<\/p>\n<p>\n\u201eR\u0103m\u00e2ne s\u0103 vedem c\u00e2t de sustenabil\u0103 este aceast\u0103 situa\u0163ie. \u00cen contextul actual de \u00eencetinire economic\u0103 a\u015fteptat\u0103 \u00een America, Europa \u015fi pie\u0163ele emergente, r\u0103m\u00e2ne s\u0103 vedem cum pot continua aceste raport\u0103ri\u201d, spune reprezentantul Amundi.<\/p>\n<p>\n\u00centr-o analiz\u0103 de la finele lui ianuarie, managerul de investi\u0163ii scria c\u0103, de\u015fi pie\u0163ele au \u00eenceput deja s\u0103 se a\u015ftepte la reduceri semnificative ale dob\u00e2nzii monetare din partea b\u0103ncii centrale americane (Fed), estim\u0103rile ar fi prea optimiste \u00een acest moment.<\/p>\n<p>\nMen\u0163inerea ratelor dob\u00e2nzilor la nivelurile actuale ar putea, \u00een schimb, s\u0103 vin\u0103 \u00een detrimentul ac\u0163iunilor \u015fi veniturilor societ\u0103\u0163ilor. \u00cen acest context, unii anali\u015fti consider\u0103 scumpe ac\u0163iunile americane \u2013 de unde \u015fi atractivitatea obliga\u0163iunilor.<\/p>\n<p>\n\u201ePrivind \u00een viitor, situa\u0163ia nu este roz. Ne a\u015ftept\u0103m \u00een continuare la o \u00eencetinire a economiei americane \u015fi poate chiar de la jum\u0103tatea anului la o intrare \u00eentr-o u\u015foar\u0103 recesiune sau un soft landing. \u00cen Europa ne a\u015ftept\u0103m s\u0103 avem o cre\u015ftere economic\u0103 anemic\u0103, mult mai mic\u0103 dec\u00e2t \u00een anii preceden\u0163i. Privind China, care cre\u015ftea \u00een anii de glorie cu 10-12%, ne a\u015ftept\u0103m s\u0103 aib\u0103 o cre\u015ftere un pic mai mic\u0103.\u201d<\/p>\n<p>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2666 De luat \u00een vizor \u015fi bondurile corporate din Europa, dar cele cu un nivel mai ridicat de siguran\u0163\u0103&nbsp;\u2666 \u201ePrivind \u00een viitor, situa\u0163ia nu este roz. Ne a\u015ftept\u0103m \u00een continuare la o \u00eencetinire a economiei americane\u201d &nbsp; Vorbind despre poten\u0163ialele oportunit\u0103\u0163i de investi\u0163ii din 2024, Mihai Constantinescu, head of sales &nbsp;\u00een cadrul&nbsp; Amundi Asset Management, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[9323,13269,246,149,369,10130,7134,17988],"class_list":["post-224753","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-active","tag-administrator","tag-crestere","tag-investitii","tag-obligatiuni","tag-potential","tag-statele-unite","tag-titluri-de-stat"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/224753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=224753"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/224753\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=224753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=224753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=224753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}