Raiffeisen Capital Management has identified key opportunities in the stock and bond markets for 2025. The firm expresses optimism regarding government bonds, particularly those issued by Italy and France.
Raiffeisen CM anticipates a decline in government bond yields in the medium term and expects a reduction in the risk premiums associated with French and Italian bonds relative to German bonds.
Raiffeisen CM maintains a moderately positive view on euro-denominated investment grade corporate bonds.
However, caution is advised regarding U.S. and Canadian government bonds.
Raiffeisen CM highlights the attractiveness of emerging debt, particularly in China compared to other Asian emerging markets.
Raiffeisen CM adopts a neutral stance on developed market equities and emphasizes the importance of monitoring developments in emerging markets, particularly Chinese equities.
In the commodities sector, Raiffeisen CM presents a mixed outlook. There is a downturn expected in cyclical industrial metals and energy commodities, but a resurgence is anticipated in precious metals.
Overall, Raiffeisen Capital Management's insights into the stock and bond markets for 2025 reveal a landscape characterized by both opportunities and challenges.