In a low-trust world that is becoming increasingly predatory, investors should expect supply shocks to become a new norm and the distribution of economic gains to stay uneven. Another result of the global order fragmenting is the rise of fiercer competition between countries. However, this competition is no longer limited to trade, tech, industrial leadership or energy security; it is instead being shaped by a relentless search for capital at the public and private level.
Cross Asset Investment Strategy
中文标题
跨资产投资策略
Citable research brief
Core conclusion · Tlines extraction
Amundi's September 2026 cross-asset strategy warns that a low-trust, predatory world makes supply shocks the norm and economic gains uneven. Fragmentation drives fierce competition beyond trade, tech and energy to a relentless public and private hunt for capital. Amundi entered 2026 expecting expensive valuations, Fed easing and a fiscal-focused administration, conditions seen as gradually normalising the USD.
- Institution
- Amundi
- Published
- 09/30/2026
- Research topic
- Fed Policy · US Dollar (DXY)
- Time horizon
- 2026 · September 2026
Key arguments
- Supply shocks are becoming a new norm in a low-trust, increasingly predatory world.
- Economic gains will remain unevenly distributed across countries and sectors.
- Global fragmentation drives fiercer competition beyond trade, tech and energy security.
- Countries and firms are engaged in a relentless search for capital at public and private levels.
Key numbers
No source-backed key figure was extracted.
Main risks
- Supply shocks could disrupt markets more frequently.
- Inequitable distribution of gains may fuel instability.
- Intensified capital competition could exacerbate volatility.
Corresponding source evidence
We entered 2026 expecting expensive valuations and Fed easing, alongside an administration increasingly focused on limiting the cost of financing a deteriorating fiscal position.
· 2026Together, these conditions were expected to gradually normalise the USD.
• Cross Asset Investment Strategy - September 2026 • Cross Asset Investment Strategy - July - August 2026 • Cross Asset Investment Strategy - May 2026
· September 2026
Context: the conclusion is Tlines' automated extraction, not the institution's wording. Quoted evidence is publisher wording. Scope and date must travel with the conclusion.
Verify at the original source ↗Complete Research
The road ahead for central banks and the USD
The USD bear case faces a monetary-policy test
We entered 2026 expecting expensive valuations and Fed easing, alongside an administration increasingly focused on limiting the cost of financing a deteriorating fiscal position. Together, these conditions were expected to gradually normalise the USD.
- Cross Asset Investment Strategy - September 2026
Cross Asset Investment Strategy - September 2026
- Cross Asset Investment Strategy - July - August 2026
Cross Asset Investment Strategy - July - August 2026
- Cross Asset Investment Strategy - May 2026
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AI analysis
AI-generated from the report above · not a translation and not the institution's wording · verify against the official source
How this page was produced
Tlines extracted the conclusion, arguments, numbers and risks above from the report published by Amundi on 09/30/2026, then structured them for comparison. The publisher's own wording is reachable through the source link on this page. Last updated 10/17/2026. Methodology · Source policy · AI usage · Request a correction