Asset Allocation Outlook
European financial markets were rocked by the political uncertainty in France in June. After his party’s poor European election results, French President Macron called early parliamentary elections. The possibility of a majority for far-right party Rassemblement National pushed yields on French government bonds up sharply and resulted in substantial losses for French equities.
Please see Van Lanschot Kempen’s Asset Allocation Outlook for July. The highlights this month are:
- Political uncertainty in France leads to losses in Europe
- ECB cuts interest rates, Bank of England and Fed to follow suit
- Investment policy unchanged
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