Anima Holding maintains neutral equity stance as geopolitical risks persist
SPY•Anima Holding maintained a neutral equities stance, citing geopolitical uncertainty and potential volatility, while remaining moderately constructive on core government bonds and cautious on French bonds.
1. Market outlook
Anima’s November 4 analysis maintained a neutral equities stance amid heightened geopolitical uncertainty and potential market volatility. It remained moderately constructive on core government bonds but cautious on French government bonds. The analysis said US growth was near potential, while the energy shock weighed on eurozone activity; core inflation was projected around 2.5% through the first quarter of 2027.
2. Rate expectations
The Federal Reserve and European Central Bank held rates steady in October. Anima expected one or two further Fed increases by March 2027 and said an ECB increase in December remained possible, before a more accommodative stance in the second half of 2027.
