March's Market Outlook

Improving cyclical momentum and an environment of abundant liquidity created by the main central banks are the mainstays of the bright start to the year for risk assets.

The market senses that the European institutions are shoring up the foundations to ensure continuity for the euro project. In the shorter term, the strengthening of the financial stability mechanisms would provide significant backing.

Geopolitical risks have reappeared on the scene, pushing up energy prices. In theory, there should be less impact on growth and prices than that suffered this time last year.

For March's Market Outlook, please click here.